In the Mortgage Options section, various mortgage products are described.(15 & 30 year) The details of becoming NACA Qualified are also provided. NACA Qualification is required to access the NACA Mortgage. NACA Qualification is so extensive that it meets the requirements of many other mortgage products. Once you are NACA Qualified, you will need to continue to pay all accounts on time, maintain your income, obtain no new debt and save the difference between your current housing payment and future affordable mortgage (i.e. housing) payment each month, until closing. Also keep submitting the most current documents including but not limited to pay stubs, bank statements, canceled checks for rental payments, etc.
Qualification time can vary depending on your individual circumstances. Remember, the NACA process is not the fastest mortgage product available, however the terms are unmatched in the industry by far. If you want all of the benefits of the NACA mortgage, you must have the preparation, patience, and determination to make it happen!