[kc]

Hi @lovestephxoxo.

My advice is don’t remove yourself as an authorized user. The MC will to let you know if it is an issue or not. I too am an authorized user on my father’s credit card. I had to show that the credit card balance was at $0. I had my father request a balance letter from his credit card company stating that the balance was at $0.

I know each persons situation is unique. For me, the credit card in question had an extremely low balance and I had been an authorized user for over 10 years. So in my case, it wasn’t a problem. I didn’t have to be removed as an authorized user. I have been NACA qualified and is in the housing search phase.

I do believe if it wasn’t at $0 balance it would have to be considered as part of my debt.

I hope that helps. It feels so good to be able to help people with questions they may have. <3

[kc]

Hi @applepie,

Yes, I found that list as well but many of them are a second loan or forgivable loan. According to @nelsont list
“Must be essentially a gift
Cannot be a forgivable loan
Cannot have a length of stay requirement
Must be able to use all funds for down payment
Cannot have a requirement to use any funds for closing costs
Must be able to use bank of America
Cannot be required to use a lender if bank of America is not on the list”

Many of them might not work with NACA. However, I believe the $10k and $7500 BOA grants should work with NACA. I have a meeting scheduled in September with my MC who I plan to ask all these questions about which grants has their office used in the past with NACA participants. If you find out or hear anything please come back and post and let us know.

[kc]

Thank you for posting your timeline. These posts are so helpful and encouraging. I’m NACA qualified and just beginning my home search. Keep updating us about your journey. Believing with you that you will have your keys soon.

[kc]

Thanks @2blessed ! Congrats on your new home. I can’t wait to become a homeowner.

I think you’re right. I have been researching too and haven’t been able to find anything for California. Quick Question – which NACA office did you use? I’m in LA but I’m using the Upland office. Would love recommendations on MC’s and In house real estate agents.

Thanks guys. I love this forum. So helpful.

[kc]

Thanks @nelsont. This is so helpful. Ok so it looks like the CALFHA down payment assistant program doesn’t work because it is a forgivable loan. I’ll continue to look.

Thank you for giving advice and helping us as we navigate this NACA journey. I always look for your post in a thread because I know you know this program well.

Any California success stories out there? I’d love to hear how you conquered this California market and was able to buy your dream home. I’m a priority member and I would love some encouragement because right now, with the housing prices and my maximum purchase amount –my hope in finding a home is dwindling.

[kc]

Hi Guys,

I’m reupping this topic because I too am looking at Down Payment Assistance Programs/Grants in California. I’d love to see if any members out there have been successful. I’m hoping someone can give insight, since this last post was in 2012. lol

I’ve been looking at CALHFA website https://www.calhfa.ca.gov/homebuyer/programs/index.htm#top but I’m unsure if their down payment assistant program will work with the NACA program. I would love any advice or help.

The California market is a beast with high purchase prices. Every penny helps.

Thanks
KC

[kc]

Hi @TTrumble. I have a similar question. I have submitted the documents/conditions and I haven’t heard back from my MC. I attended the ATD event last month, my file was quickly submitted and came back with a few conditions. I have submitted all the conditions and sent a few emails to my MC and also reached out to member services. It’s been 10 days since I uploaded/emailed the necessary documents. But my file hasn’t been resubmitted. I was wondering the same thing, do I sign up for the next ATD event in September?
Please help.

[Author]

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