Program Information
Neighborhood Assistance Corporation of America
Location
Telephone Numbers and Contact Information
Telephone 1:Telephone 2:
Telephone 3:
Fax:
Web Page: www.naca.com
Program Details
Eligibility: Based on income, location, and need. There are maximum home purchase prices to qualify for a NACA mortgage, and you must purchase within a NACA service area.
Fees: Annual membership fee of $20 for Mortgage Application qualification; and monthly $50 "Neighborhood Stabilization Fund Fee" for a period of 5-10 years.
Intake Process: Call toll-free number to get member application or sign up for workshop.
Service Area: National program. Local office serves central NC including Wake, Orange, Durham, and surrounding counties.
Program Description:
Non-profit community advocacy and housing services organization, and HUD-approved housing counseling agency, which has been fighting against predatory lending practices in low-income areas, and which offers mortgages at very favorable rates for people who might have difficulty getting a commercial loan. They offer buyer education, individual budget/credit counseling, buyer's agent services, financing for rehabbing houses, refinancing for those who have been victims of predatory lending, and post-ownership counseling and support. Their mortgages require no down payment, no closing costs, and perfect credit is not required. Online applications available. Basic workshop required for all loans. Search for workshop times and locations online at: http://www.naca.com/buy_or_refi/workshop_form.pbl
This information is provided as is with no guarantee as to the accuracy of the information. Information is considered to be accurate as of the date of the last update, printed above. Resources for Seniors may not be held liable for misuse of this information.