Can you switch over to NACA from another lender?

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    So my intake session isn’t until next week and who knows how quickly or how much longer we would have to wait in order to get NACA qualified. The dilemma is that, with interest rates dropping, the pricing of the homes we are looking at have shot up very quickly. We are looking at a new construction and the base pricing has increased by $30K-$40K in the last month or so while we are waiting for our intake appointment.

    I’m afraid by the time we do get NACA qualified, that base pricing might increase to the point that it prices itself out of our budget. Additionally, we are non-priority members so this particular neighborhood is really our only option since its in a priority area.

    Is it possible to get qualified with the builder’s lender to start the process and then switch over to NACA once we are qualified? Since it’s a new construction home, I figure there’s a good 5-6 months to get through the NACA process.

    We would greatly appreciate any insight, particularly from the man, the myth, the legend: @TTrumble!!

    Thanks in advance!


    Hello nitromiles,

    Wow… “the man, the myth, the legend: @TTrumble!!”…

    Boy have I got YOU fooled! LOL 😀

    Actually starting with the builder’s lender and switching to NACA is very commonplace.

    Just FYI even though my crystal ball has been in the shop for a while, these amazingly low rates we are seeing right now should stick around for the rest of the year by all expectations. You should be in pretty good shape. Remember that in the NACA program your rate locks in at the point you submit your bank application and be mindful as your journey continues.

    Tim Trumble
    Online Operations, NACA


    Thank you @TTrumble for the reply.

    So even though we haven’t met with our MC yet for our initial intake session, I could go through the builder’s preferred lender and switch over at some point assuming we get qualified? I think in our case (and this is just my opinion) our qualification will likely depend on whether our payment shock for the previous 6 months will suffice or if they will need to see another 1-3 months.

    I was talking with the sales rep at the development we are looking to purchase in, and he told me that his “directive was to increase the base sales price by $10,000 for every 2 homes sold.” So my main concern was that, say if we don’t get qualified until Oct/Nov, that these prices will continue to rise by another 50-60K by that time.

    But if you’re saying that we can go through the builder’s lender to start the home building process now, and then switch to NACA if or whenever we do get qualified, then that would be great!

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