Paying debt @ closing

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  • #71046
    dayna
    Participant

    Are we allowed to use our mortgage to pay debt @ closing , as long as the mortgage payment and amount meet our specific approval of course… I know it’s possible for conforming loans, but I’m not sure if it’s a possibility with NACA.


    @ttrumble

    #71048
    Nelsont
    Member

    Meaning like debt consolidation? Rolling credit cards and other loans into your mortgage loan?

    #71050
    TTrumble
    Member

    Hello dayna,

    Your NACA loan may only be used for the purchase of and repairs/rehab for your home. No other expenses or obligations can be included.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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