Jump to content

Sign in to follow this  
bears85

NACA Mortgage Timeline- From Intake to Keys in 68 Days

Recommended Posts

Posted (edited)

I would be hard pressed to accept a NACA offer for my house or townhouse. If I did I would definitely not give the buyers incentives or be as flexible on price knowing the deal will take much longer than other offers. The one story here on closing in 68 days is an anomaly. Most either give up as it takes too long/can’t get a response or closing is much longer than 68 days. The average days to close on a house is ~50 days.

 

I agree it’s a great deal if you can get it.

Edited by tiggerlgh

Share this post


Link to post
Share on other sites

I think the satisfaction/dissatisfaction with NACA is usually regional, based on the NACA office. The Dallas office is AWESOME with the best MC around. I do know some people are frustrated with the program and I can't blame them. It really doesn't matter how someone else does with the program. The only thing that matters is your experience.

 

We've actually looked into upgrading our home. However, we bought when prices were decent. Now, everything has exploded. We just made our 36th payment and have 12 years left. Our mortgage has gone from $215,000 to $170,000. The terms are just so unreal that I can't ever see leaving the deal.

Share this post


Link to post
Share on other sites

I think the satisfaction/dissatisfaction with NACA is usually regional, based on the NACA office. The Dallas office is AWESOME with the best MC around. I do know some people are frustrated with the program and I can't blame them. It really doesn't matter how someone else does with the program. The only thing that matters is your experience.

 

We've actually looked into upgrading our home. However, we bought when prices were decent. Now, everything has exploded. We just made our 36th payment and have 12 years left. Our mortgage has gone from $215,000 to $170,000. The terms are just so unreal that I can't ever see leaving the deal.

You had an unusually good experience. Its not regional. DLG has made plenty of statements about this as well.

Share this post


Link to post
Share on other sites

 

I think the satisfaction/dissatisfaction with NACA is usually regional, based on the NACA office. The Dallas office is AWESOME with the best MC around. I do know some people are frustrated with the program and I can't blame them. It really doesn't matter how someone else does with the program. The only thing that matters is your experience.

 

We've actually looked into upgrading our home. However, we bought when prices were decent. Now, everything has exploded. We just made our 36th payment and have 12 years left. Our mortgage has gone from $215,000 to $170,000. The terms are just so unreal that I can't ever see leaving the deal.

You had an unusually good experience. Its not regional. DLG has made plenty of statements about this as well.

Actually, my experience wasnt great. It was stressful the entire time. Everyone who goes through NACA seems to have a stressful time. Only thing is that I stuck it out.

Share this post


Link to post
Share on other sites

 

 

I think the satisfaction/dissatisfaction with NACA is usually regional, based on the NACA office. The Dallas office is AWESOME with the best MC around. I do know some people are frustrated with the program and I can't blame them. It really doesn't matter how someone else does with the program. The only thing that matters is your experience.

 

We've actually looked into upgrading our home. However, we bought when prices were decent. Now, everything has exploded. We just made our 36th payment and have 12 years left. Our mortgage has gone from $215,000 to $170,000. The terms are just so unreal that I can't ever see leaving the deal.

You had an unusually good experience. Its not regional. DLG has made plenty of statements about this as well.
Actually, my experience wasnt great. It was stressful the entire time. Everyone who goes through NACA seems to have a stressful time. Only thing is that I stuck it out.

And you had the time as yours was a new build vs an existing home purchase. Most don’t have that time to stick it out.

Share this post


Link to post
Share on other sites

 

 

I think the satisfaction/dissatisfaction with NACA is usually regional, based on the NACA office. The Dallas office is AWESOME with the best MC around. I do know some people are frustrated with the program and I can't blame them. It really doesn't matter how someone else does with the program. The only thing that matters is your experience.

 

We've actually looked into upgrading our home. However, we bought when prices were decent. Now, everything has exploded. We just made our 36th payment and have 12 years left. Our mortgage has gone from $215,000 to $170,000. The terms are just so unreal that I can't ever see leaving the deal.

You had an unusually good experience. Its not regional. DLG has made plenty of statements about this as well.

Actually, my experience wasnt great. It was stressful the entire time. Everyone who goes through NACA seems to have a stressful time. Only thing is that I stuck it out.

 

 

Then why were you praising the Dallas office? :dntknw:

Share this post


Link to post
Share on other sites
On 6/26/2018 at 8:19 PM, mendelssohn said:

 

Then why were you praising the Dallas office? :dntknw:

Simple explanation. NACA, in general, requires tons and tons of paperwork and sending in things that you’ve already sent in. The NACA underwriters are brutal. So are the BOFA underwriters. So every little thing that they notice, you need to be ready to explain it.

Also, our Home contract price was $214,850. The initial appraisal came in at $211,000. NACA will not close you if the appraisal doesn’t match or exceed the contract price. You can’t even pay the difference to close the deal.

So overall, the process was very stressful and overwhelming, but we continued with it and kept doing everything we asked. None of the foolishness we dealt with was because of the Dallas office.

Does that satisfy your question?

Share this post


Link to post
Share on other sites
On 7/2/2018 at 12:38 AM, Daddy said:

Simple explanation. NACA, in general, requires tons and tons of paperwork and sending in things that you’ve already sent in. The NACA underwriters are brutal. So are the BOFA underwriters. So every little thing that they notice, you need to be ready to explain it.

Also, our Home contract price was $214,850. The initial appraisal came in at $211,000. NACA will not close you if the appraisal doesn’t match or exceed the contract price. You can’t even pay the difference to close the deal.

So overall, the process was very stressful and overwhelming, but we continued with it and kept doing everything we asked. None of the foolishness we dealt with was because of the Dallas office.

Does that satisfy your question?

Not really because it doesn't make their office exceptional if they can't get past any of the issues you are complaining about. If they have no power to do anything different, they don't deserve praise for anything.

 

FWIW my NFCU mortgage was super easy, and I suspect that is "normal" these days. NACA is just a PITA and unless you can wait like you were able to, is not a good option in a competitive real estate market.

Share this post


Link to post
Share on other sites
Posted (edited)

Coming from personal experience with NACA. If you have no other choice or have 90-120 days to close it may be a justifiable option. I have nothing positive to say really. Make sure they're licensed to operate in your state is a big one. Like others have mentioned the ratio of negative/positive reviews is overwhelming. They have a good product that is not delivered well on any level in the organization. For what they pay people you're never going to get the level of expertise you would at a bank. 

Edited by EricDET

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Today's Birthdays

  • Member Statistics

    • Total Members
      175,039
    • Most Online
      1,528

    Newest Member
    tjsegraves
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×

Important Information

Guidelines