We have our contract all signed for our new construction with a close date in July. My advice…. avoid “Ants in Pants syndrome” There is 100% not a better rate out there than NACA…. we got Ants in Pants syndrome and looked around and there was nothing comparative. Here’s a brief overview of our experience so far.
Dec. 1 – Homebuyers Workshop Dec. 4 – Received NACA ID Dec 11 – Everything uploaded Jan 9 – Intake Meeting Uploaded other documented listed as Homeownership Ready & sent out renter/income verification It was at this time we thought it was gonna take too long because they needed by husband’s 30 day employment verification because he started a new job, but for a new construction it needed to be started 6 months in advance.
We decided to go back to NACA & our builder cancelled our contract per NACA but said they’d keep building and keep our sale sign up as long as we allowed them to keep the escrow check with the law firm (and they’ll transfer it to NACA’s law firm after) and if NACA fell through they’d just put it back on the market. They gave us 90 days to submit a new Purchase Contract. Feb 15 Signed Verification Sheets Feb 15-26 Submitted lots of the paperwork & tons of back & forth Feb 27th – Submitted for approval Mar 4 Given conditions, submitted them same day. Mar 8 Qualified Mar 9 Volunteered at NACA Homebuyers Workshop (YOU MUST VOLUNTEER BEFORE YOU ARE QUALIFIED or sign up to volunteer beforehand) Mar 14 Purchase Workshop Mar 15 Submitted P&S Contract & Locked in our rate
We got lucky because our builder allowed us to continue building, but everyone isn’t so lucky. We talked to someone else in the office who got AIP syndrome and ended up losing out on $5K. I 100% recommend patience & it’ll all work out. Your counselors want this to work out for you just as much as you want it to work out for you. I’ll give an update closer to closing.