NACA Qualified & Contract Signed for New Construction! – Our Timeline

Home Forums Purchase Program NACA Qualified & Contract Signed for New Construction! – Our Timeline

This topic contains 3 replies, has 3 voices, and was last updated by  TTrumble 1 month, 4 weeks ago.

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  • #47898

    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.

    We will have our dream house in July!

    #47937

    GlennyP
    Member

    Congratulations. Who is your builder?

    #47941

    Hi GlennyP,

    I am building through Great Southern Homes. It’s only South Carolina based.

    #48006

    TTrumble
    Member

    Hello Newlywed Homebuyers,

    Thanks for sharing the timeline. I guess we now have a second official “Forum disease” along with the “Close to Closing Crazies”! Ants in the Pants Syndrome actually fits in nicely! 😀

    Please keep us updated!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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