Is naca a scam?

NACA is no scam but it is no cakewalk either.

The Neighborhood Assistance Corporation of America is a HUD certified non profit counseling organization.

If you complete the NACA program you will get a 30 year fixed, no closing cost, no down payment home mortgage at a rate of 3.875% (as of 9-2-14)

To qualify for the NACA mortgage you must meet the following base criteria:

1. 12 months of on time payments on any revolving debt.

2. All charge offs paid off within 24 months.

3. Positive rental history for 24 months.

4. Home must be owner occupied.

5. The expected mortgage payment of the new property must be equal to or less than the affordable figure determeined by NACA

6. Must demonstrate ability to put mney in to savings every month to show ability to make proposed mortgag payment amount and accumulate funds for pre-paid items such as inspections and insurance.

7. Verifiable and recorded income for 24 months, (self employed included)