Priority Vs Non Priority Determination

Home Forums Purchase Program Priority Vs Non Priority Determination

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
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  • #72242
    AbbieW
    Participant

    Hi all!

    I have a pretty simple question. Is your priority vs non priority status determined by your net or gross income? I’ve looked through the forum, but haven’t seen anyone answer this exactly.

    #72243
    Nelsont
    Member

    It’s actually in the workbook which you can view for free on the naca website without signing up for anything.

    It’s based on gross income. But it’s gross base pay. Annual employer bonuses count. Overtime and personal bonuses don’t.

    #72244
    AbbieW
    Participant

    Thank you so much!

    #72245
    caycolon
    Member

    Which year of the FFIEC census info is presently being used? I was told by my MC that 2020 is being used but my realtor said that they are using 2019.

    #72250
    Lorrieprice
    Participant

    Hi, If you are a non-priority buyer will NACA prevent you from buying a home where the median income is higher than 100%? Thanks

    #72252
    Nelsont
    Member

    I’ve seen contradictory reports on the 2019 and 2020 numbers. The go into effect every August/September but some people are told they aren’t using them.

    Non priority is restricted to purchasing a home in a census tract 99.99% or lower. This is non negotiable.

Viewing 6 posts - 1 through 6 (of 6 total)
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