Interest rate below 3% on 30 year mortgage?

Home Forums Purchase Program Interest rate below 3% on 30 year mortgage?

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    I just received and accepted my loan estimate yesterday. That means I’m locked in at 3 percent (before buy down)right? I’m a non-priority member and I know I can only buy down so much. Thus, I’m appreciative of EVERY rate reduction. When I attended my first workshop a year ago, the rate was 3.3 percent. It was a blessing that I had to wait a bit to qualify because I was able to buy much more house at 3 percent.

    But it got me wondering, what HAS been NACA’s lowest interest rate (pre-buy down) on a 30 year mortgage? @TTrumble do you know?



    Yes you are locked in prior to buy down.

    Naca’s interest rate is always slightly lower than the national rate and goes up and down along with it. I would imagine what you see today is the lowest it’s even been since these are the lowest rates the nation has ever had on record and when naca was founded the national average was 10%.



    I don’t have an answer for you but was curious as to how long did it take for you to receive your loan estimate? I’ve read in a couple of places that it is automatically generated but I still have not seen mine after submitting the P&S over the weekend (4/11).


    I read that it was automatically generated too, and was expecting to get it that day (or maybe the next day). It didn’t seem to be the case with me. I uploaded my p&s agreement on the 8th or 9th and got it yesterday (the 13th). The date on the estimate said the 10th so I’m not sure if the holdup was due to the weekend. I’m thinking you will get it tomorrow. Congratulations @azallian


    • This reply was modified 10 months, 2 weeks ago by Taco.

    Hello Taco,

    Your rate locks in when the bank application is submitted, but it shouldn’t change much, if any, between now and then.

    I honestly don’t know what the lowest the NACA rate has ever been, but this has to be very close as rates have hovered in an exceptionally low range (under 4%) almost continually since the mortgage crisis. That means these have to again be historically low rates since they have come down a bit since the COVID-19 pandemic started to affect the economy. They are likely to stay in this range for a while too since banks are starting to tighten up their requirements for obtaining a loan. (Fortunately, those tighter requirements do not affect NACA, so the lower rates are just another advantage for everyone using the program.)

    Long story short, you’re definitely in the right place at the right time. You can still buy down to 1.75% event though you’re a non-priority member, so you should be in great shape.

    Tim Trumble
    Online Operations, NACA


    1.625% is my 30 year rate with full buy down, non-priority.

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