Length of time to stay in home

Home Forums Purchase Program Length of time to stay in home

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  • Author
    Posts
  • #16507
    uscanonymous
    Participant

    Does anyone know that the length of time is required by NACA to stay in the home before reselling?

    Thanks

    #16509
    mommymayo0f3
    Participant

    I know it is as long as you have a mortgage you must stay in the home. In the qualification brochure it sates ” If at some point you decide to sell or refinance the home, you will need to contact NAXCA to obtain a release of the lien,

    #16521
    kmjatl
    Participant

    The NACA mortgage requires owner occupancy. If you decide to sell the home, contact NACA for a lien release.

    If you have extenuating circumstances that would require renting the home, contact NACA they may work with you on that.

    #16537
    TTrumble
    Member

    Hello uscanonymous,

    You may resell at any time, but you do have to obtain the lien release, and cannot use NACA to buy another home for at least three years after closing on your previous NACA loan.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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