Is 8 months normal just to qualify?

Home Forums Purchase Program Is 8 months normal just to qualify?

Viewing 15 posts - 16 through 30 (of 32 total)
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  • #46724
    Rockie
    Member

    @southflorida – HA! Just found out that our MC is no longer with the company. Go figure.

    #46725
    Rockie
    Member

    @JHarris981 It’s not an option because we don’t want to be “mortgage poor”. We cannot afford PMI and housing is so expensive where we live that we MUST put down more in order to be able to budget the monthly payment. The money we have saved will go towards buying down the interest rate. We are freelance, but payroll. It’s very, very complicated. Submitting paperwork for five to ten employers a year is complete madness.

    #46726
    southflorida
    Member

    @Rockie everything happens for a reason, ,maybe you get a very good counselor now, try to stop by the office if you can, take half a day from work or something like that

    #46743
    JHarris981
    Member

    @Rockie, I understand. I do think NACA will save you the most money. I don’t understand why you haven’t been submitted for qualification, though. Eight months isn’t unheard of but usually an MC gives a reason for why a member hasn’t been submitted, whether it’s because there’s something on the credit report, or a there’s a late rent payment, or work history problem. There are so many members for every one counselor that you really have to stay in constant contact with your MC to make sure your file is being worked on and submitted or you can get sort of lost in the shuffle. I used to call my MC every day or 2 and I was up there every week. When I couldn’t get a weekly appointment I’d ask to be put down for a phone appointment. If there are no problems with your file then I think 8 months is a while to not even been submitted for qualification.

    #46808
    Rockie
    Member

    @JHarris981 We were literally told that our guy “forgot” about us. None of that matters anymore, as he’s no longer with the company. We are waiting to get assigned a new MC.

    #46821
    TTrumble
    Member

    Hello Rockie,

    Please email me your name, NACA ID number and Forum screen name. I’ll take a quick look at your file and see if there are any issues holding you up.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #46840
    Rockie
    Member

    @ttrumble Thanks for reaching out.

    #46841
    Rockie
    Member

    Sigh. Turns out that one of my friends was going through the NACA process at the LA office too. She’s been through THREE MCs and charged multiple times to run her credit. Starting to feel a little hopeless after learning this.

    #46843
    southflorida
    Member

    Don’t lose hope, closings happen, I can tell you from experience and I was able to buy my house with NACA which I would not have been able to buy with a traditional lender, just have patience, persistence and be proactive

    #46845
    Rockie
    Member

    @southflorida – Keeping my fingers crossed. Thanks for all the PMA! I’ll give it a couple more months. I hope that we can move on to the next step within that time frame. If not, we’ll have to move on. The feds seem keen on raising rates, so the longer we wait, the more it will cost to burrow the money. Mortgage rates have gone up a percentage point since we started with NACA.

    #47055
    Rockie
    Member

    @JHarris981 Lucky for us, we are not in a hurry. We are payroll and 1099… we have two years of stuff turned in already. I’m guessing that now we will be turning in taxes from 2018 as well. At least I can upload W2s as they come in the mail! God knows how much longer this is going to take. Rates keep climbing, as do home prices (in LA). Our time is running out in that aspect, and every month we get the runaround from NACA, we will end up spending more money on a home.

    Yes, the FHA loans end up super pricey after putting money down, closing cost and then the PMI. We’d prefer not to be “mortgage poor”. I just really can’t wait to get past “uploading documents” and chasing people around.

    We haven’t heard from anyone at the LA office again for nearly a month. I made another appointment for the END OF THIS MONTH… so that will make it another two months. Gonna take @southflorida ‘s advice and go down there after new years. Are the offices even open this week?

    • This reply was modified 1 year, 9 months ago by Rockie.
    • This reply was modified 1 year, 9 months ago by Rockie.
    #48608
    Rockie
    Member

    It’s official: We have been uploading documents for a year now. NACA now has three years of tax returns, three years of W2’s, a years worth paystubs and I think we’ve run four credit reports. Still have hope that this will eventually happen! Is this normal?

    #48631
    Quintana1
    Member

    Been 8 months in the program also went to the dream event in Houston Texas got qualified and the. “Disapproved” by office manager counselor ceo heck everyone. Because supposedly this letters of qualification from this events are not accurate. Please don’t go to this events is just a waste of time believe me. Also you may have better luck getting in contact with CEO. I had a horrible experience with ceo try to intimidate me over the phone.

    #48633

    @Quintana1 could you share more about how they tried to intimidate you? And what was the reasoning for the change in approval status after the event?

    #48637
    Quintana1
    Member

    Status changed having to due the underwriter at the event used 2016-2017 tax. When April cane around they went over my 2018 found errors made by tax preparer. Though this errors were found by region manager Diego Luque. But office could not explain to me why status had changed. So frustrated I went asking to speak to regional manager and he explain to me I also got in contact with Bruce Marks and Erick Exum whom was very rude over the phone try to intimidate me. When he asked me about my file he wouldn’t let me answer also was screaming at me and speaking over me the whole time. He said they would get to my file whenever they felt like it and if I was going to continue with the program it had to be their way or not at all.

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