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From purchase workbook.
“It is often important to act quickly when writing an offer. If you are unable to wait to obtain a Property
Specific Letter and are at risk of losing a property due to multiple offers being made on a property, you
and your R.E. Agent are encouraged to proceed as necessary. It is recommended that you use the
NACA Mortgage Calculator on NACA’s website to make sure the offer amount does not exceed the
Monthly Mortgage Payment for which you are NACA Qualified. If an interest rate buy-down is required,
you must provide proof of funds above and beyond what was required per the Minimum Required Funds
and any amount paid by the seller. “
Underwriting – Initial review
Approved with Conditions
Cleared to close – Final
There are others, but these are the only ones on my file.
I though MAP stood for Member Assistance Program.
Also, you still have to pay dues every year after you close??
Congrats!!! So happy for you.
Things should happen relatively quickly once you get your SOW. I look forward to hearing about your CTC Final
In my case, CA-Request was my file being sent to underwriter for review. I got CA-pending when I had conditions to address. After I addressed them, my MC submitted my file back to underwriting. It went back to CA-request, then CA- approved.
Maybe it differs by title company, but my EMD was withdrawn and held with the title company.
I was owed back after closing, so they sent me a check.
I’m so sorry this is happening to you. Please continue to be a polite pest. Request an escalation of your file. Email the CEO, if necessary.
Your file has to be submitted for NACA qualification. Once qualified, you attend a qualification workshop, received your qualification letter and you can start looking for homes.
I’m not sure how things are working now, but I had to have another appointment to submit the documents for qualification. Perhaps reach out to member services to request an appointment. Once your file has been submitted, you will either be qualified or may have to submit additional documents to satisfy any conditions.
Either way, if you are looking at a house now, chances are you may not be qualified before the home goes off the market. You may have to seek other financing options if this is the house you really want and time is of the essence.
I think you may run into an issue with your grandmother having property if she’s going to going to be apart of the household. No one in the household can have property while closing on a home using NACA.June 25, 2020 at 7:31 am in reply to: Anyone else experiencing zero communication through HAND? #69728
They haven’t stated explicitly, but someone may have tested for COVID recently. I received an out of office reply from the HAND director, stating that they are sanitizing their offices.
There is an Official NACA Group, where NACA posted instructions of how to reach HAND.
It includes email firstname.lastname@example.org, putting your naca id in the subject line and in the body of the email include your bank submission date and request for follow-up. They *should* follow up within 72 hours. They are prioritizing by bank application date.June 25, 2020 at 6:14 am in reply to: Anyone else experiencing zero communication through HAND? #69725