NACA

Description

How is the NACA Program different? NACA utilizes it's state-of-the-art online mortgage
qualification, underwriting, processing and servicing software called NACA-lynx. This high-tech,
paperless process transcends a simple approval or rejection based on a credit score and provides
NACA's Housing Consultants with the tools necessary to guide borrowers--even those with severe
credit issues--through to the ultimate goal of home ownership
NACA provides comprehensive housing counseling to each participant. A NACA Housing
Consultant will work with the Member to resolve credit issues and other financial problems, and to
navigate the minefield of the mortgage process. They will work with the Member for as long as it
takes to become a homeowner, and all of NACA's services are free.
NACA controls the mortgage process for every participant. NACA chooses all the vendors for the
program (i.e. appraisers, settlement agents, etc.) and makes the underwriting decisions on better
terms than any other mortgage provider. Nearly all applications from NACA participants are
approved by the lender (99% of families who apply for mortgages are accepted), compared to the
industry standard 30% to 40% withdraw/rejection rate. Other mortgage brokers and non-profits
lack this capability, so banks make the critical decisions. Even worse - many mortgage brokers
get kickbacks in return for charging higher interest rates, and many non-profits are so dependent
on grants that they compromise homeowners' best interests.
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