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@mrstaylor The first offer I put in, the house went over 30k for asking as well. I really lucked up for the second house because I had on my work uniform, and the listing agent was a retired nurse so she told my realtor that she wanted me to have the house! My advice, if the listing agent is doing the showing, impress him or her and stand out!!!
8/26/2017 Attended Homebuyers workshop
Jan 2018 First Intake Session- I had a lot of things on my action plan such as collections, taxes owed, student loan default and no money in savings.
Apr 2018 Second intake session in which I had completed a few items from my action plan but had a long way to go.
July 2018 Third session schedule but I cancelled because I knew I still had a lot of things to accomplish.
*After July, I did not go into the NACA office for approximately one year. I was assigned a new counselor because my previous counselor had advanced into another position within the company.
June 2019 Met with the new counselor and she basically had to read over my entire file and my file was in much better shape than before but spending a lot of money repairing my past financial mistakes, I wasn’t able to save any MRF. Basically MRF was what I needed.
September 2019 Appointment with MC. Time spent uploading documents and seeing if I was missing anything. I had initially decided that I was going to use my 401K for MRF but I still had to show a savings pattern. I did not want a mortgage payment for more than I paid in rent but will address this later.
December 2019 Cancelled my appointment. I did not reschedule another appointment because I was waiting closer to the summer months
January 2020 Decided to focus more than ever on getting into a house by the summer.
March-June 2020 Saved vigorously for my MRF instead of using my 401k. By the end of June, I had saved more than my required MRF
June,6 2020 Attended the Virtual ATD event. The person I received set another action plan to add more $ to my MRF, but not by much. I had initially said that I wanted my mortgage to be the same payment as my rent but I was like, maybe go $50 over. The counselor told me to save $200 monthly but I had already began doing that so I just had to continue. I also had to write LOEs for all the cash app transactions and I have teenagers. That was a lot of listing, so I had to cut them off for awhile with the cash-app transactions. Everything he had put on the action plan I had finished that same day. I was bummed because I thought that I would get sent to underwriting this day but for some reason, he told me to schedule an appointment with my in-house counselor. I did.
June 17, 2020 Virtual Appointment with in house counselor. Had to re-upload a lot of documents and more LOEs. Live with family LOE and others that I can’t recall. This appointment lasted the entire 2 hours.
June 24, 2020 Next virtual appointment with counselor. More documents to upload and other LOEs. My counselor was one that didn’t want the UW coming with any questions, so I wrote a lot of LOEs. Was supposed to be submitted to UW but I didn’t. Ended up having to get another appointment with her in which she wasn’t available until a month later. I was a little sad at this point.
July 22,2020 Finally submitted to UW. Conditions came for awhile one-by-one taking approx 2 weeks for Qualified status
August 10, 1010 Naca Qualified
August 13,2020 Attended virtual Purchase Workshop. Okay during this time, a friend of mine had recommended his realtor. She wasn’t a NACA realtor. Naca goes by the affordable mortgage payment amount and she only wanted me to look for houses based on my mortgage price range and I knew that I would be buying the interest rate down and could afford more house than what was listed as my qualified mortgage amount. I had to end up using a Naca realtor. My advice to you is to definitely use someone who is very familiar with Naca because they can help you move along much quicker.
August 21, 2020 Put in an offer on my first house. Lost! This house went $30k over asking price.
August 23, 2020 Put in my second offer on a house. Offer accepted and ratified. Estimated close for Sept 25, 2020.
August 26, 2020 House Inspection. Inspection with minor things, which ended up being waved by HAND. Report sent to HAND Dept immediately.
August 27, 2020 Appraisal Completed. Credit Access Requested. Conditions that were back and forth until Sept 12. 12 month rental was the tricky one because another company had taken over the property so I had to provide bank statements and money order evidence.
September 12,2020 Credit Access Approved
September 14, 2020 Bank Application
September 17, 2020 Bank Conditions, sent in immediately. They had requested HOI quote, and proof of student loan payment plan.
Sept 21, 2020 Same student loan condition. My IDR plan was expiring next month so I had to provide proof of what my student loans would be after I renew.
Sept 23, 2020 My counselor was not in so the office manager had me leave a message for the Office Director. He called back and I explained that I had filled out the recert application for my student loan but they said it would take 7 to 10 business days to receive anything. I called Navient and they agreed to expedite it to have something by Friday. In the mean time the OD had me log into student aid, stating that the calculations had to show that I was logged in under my name. The calculation amounts were a bit expensive, but didn’t affect my DTI. We submitted those and I was CTC on the original date that I was supposed to close.
September 25, 2020 CTC
September 30, 2020 CTC Final. Initial CD. Closing estimated October 7, 2020. Closed one day early.
Today October 6, 2020 I closed on my home with a 2% interest rate and keys in hand. Thank you, thank you, thank you NACA!!!!! My mortgage payment is only $27 more than I paid in rent!
TODAY, I AM OFFICIALLY A HOMEOWNER THANKS TO NACA!!! 🙂 KEYS, KEYS, KEYS!!!! Now the fun part, moving 🙁
@sleepydoge So happy for you, CONGRATS!!! I am still patiently waiting on my ctc final, I will be right behind you. I will keep you posted.September 26, 2020 at 3:12 am in reply to: Starting NACA Purchase Program after 3 traditional mortgage counselings #72040
If I were you, I would try to attend one of the virtual ATD events being that you already have most of your things. That way you could potentially get qualified quickly OR call member services back and explain your situation and see if they can assist you!
@sleepydoge I was actually supposed to close yesterday on the 25th but I am hoping I get the CTC final soon. You are exactly correct about hating the weekends. Majority of the people on here were in fear of losing their EMD but they ended up closing on their home. You will have your keys soon trust!
The same happened to me I kept getting conditions 4 different times before it went through but it will finally cleared. Be sure to continue submitting or resubmitting everything that they want. Your keys will the the prize in the end!!!
@PastorP If I were you, I would contact the office manager and/or member services to explain your situation, so that you can move on to your bank app. You really have to be a polite pest and not wait around for only your counselor. Three weeks of being stuck in credit access is a really long time. Hope that you’ve had some success since your post!September 25, 2020 at 12:08 am in reply to: 12 days to close and file hasn’t even been submitted! #72020
@Genny13 I am supposed to close today and it’s not happening. I had a condition come back regarding my student loan and hopefully they will give the ACA, then CTC and final. Hopefully next week will be my lucky week. My fingers are crossed. The seller is getting impatient so hopefully the stars align.September 21, 2020 at 5:35 am in reply to: Underwriting Nightmare – Someone Please Give Us Hope #71939
@courtniep83 Congrats on closing. I know NACA and the bank can be a hassle but I’ve ran the numbers and I can’t find any other lender to match what NACA offers. I’ve shopped around and landed right back at NACAs door. I can afford more house than I would have with any other lender. I am happy for you and I know that you are glad to finally have your keys in hand. I am patiently waiting!!!
Thank you @damiensmith. I finally got C and I approved and bank app completed and have now received my commitment letter. I have my fingers crossed to make my original closing date but if not, I think it will be not far from it.
@tomf, I hope that you have made progress since your last post. Have you tried contacting the mortgage department to see if they can help as well? I am hopeful that the seller will realize that it is better to stick it out rather than going through the hassle of relisting.September 11, 2020 at 10:11 pm in reply to: Underwriting Nightmare – Someone Please Give Us Hope #71877
Would love to know if you closed on time? I am currently in the same situation.
September 11, 2020 at 9:57 pm in reply to: 12 days to close and file hasn’t even been submitted! #71876
- This reply was modified 4 months, 2 weeks ago by Movebyfaith.
I am interested in this outcome as I am in a similar situation!
@Nelsont Hello, the Naca office suggested that I go get it from the leasing office but I did not do that because I’ve been reading the forum and knew better. I just want to get to underwriting!!! I know I put that I scanned it but I didn’t scan it but I did fax it and had them email it to my counselor. I just feel that my counselor should respond to my emails and I should not have to wait two weeks for her just to submit my file. I am going to continue to be patient and hope that she sends it before then, *sigh.
I am sitting here wondering if I will ever get to underwriting. I have been so polite and patient but it is really wearing thin. They ask me for the VOR, I fax, scan l, email and any other way imaginable and you mean to tell me I have to wait until the 22nd for my next appointment. Everything that was requested I have turned in and I am really thinking about going the conventional route. I won’t be in my house until 2021 with this program. I understand that the counselors are busy but I have to take time off to do this virtual meeting as well. Beyond frustrated!!!