purdynerdy

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Viewing 15 posts - 16 through 30 (of 177 total)
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  • in reply to: NEED HELP WITH PROPERTY SPECIFIC LETTER URGENT #70778
    purdynerdy
    Participant

    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. “

    in reply to: Documenting My NACA Home Buying Process #70664
    purdynerdy
    Participant

    Congrats @Nlaw88 and @jasmine1103!!!

    in reply to: Bank Loan Stage Statuses #70440
    purdynerdy
    Participant

    For me:

    Underwriting – Initial review
    Approved with Conditions
    Cleared to close – Final
    Closed

    There are others, but these are the only ones on my file.

    in reply to: Webfile #70135
    purdynerdy
    Participant

    I understand the volunteer requirement (though not enforced). The fee being paid every year after you close is new to me. @TTrumble stated in 2020, that it’s not collected after you closed.

    2020 Membership Dues for all Purchase Members

    in reply to: Webfile #70131
    purdynerdy
    Participant

    I though MAP stood for Member Assistance Program.

    Also, you still have to pay dues every year after you close??

    in reply to: I CLOSED- Best Taco Tuesday EVER! #69997
    purdynerdy
    Participant

    Congrats!!! So happy for you.

    in reply to: Documenting My NACA Home Buying Process #69985
    purdynerdy
    Participant

    Yay!!!

    Things should happen relatively quickly once you get your SOW. I look forward to hearing about your CTC Final

    in reply to: CA Request vs Pending #69961
    purdynerdy
    Participant

    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.

    in reply to: EMD #69959
    purdynerdy
    Participant

    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.

    in reply to: Stuck in A Loop #69901
    purdynerdy
    Participant

    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.

    in reply to: Questions about Approval Process #69899
    purdynerdy
    Participant

    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.

    in reply to: Bank Accounts #69799
    purdynerdy
    Participant

    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.

    in reply to: Credit Access Woes #69792
    purdynerdy
    Participant

    Great progress @Nlaw88!

    purdynerdy
    Participant

    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 hand@naca.com, 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.

    purdynerdy
    Participant

    They are closed due to a COVID19 emergency.

    From what I heard, they are transitioning to remote work. Continue to email HAND@naca.com.

    I’m currently trying to get my rehab started, but can’t right now.

Viewing 15 posts - 16 through 30 (of 177 total)