Householder Member Uncertainty

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    I’m in the process of completing my Webfile and I’m unsure of how to go about household members.

    As of now, I share an apartment with my roommate, who happens to be my sister. I will be going through the NACA program to purchase a home and I will be the only one on the loan. It is not set in stone whether or not she will move in with me upon closing or not. She has options. She can either get her own place, move back in with our parents, or I am open to her moving in with me. Do I need to list her as a household member even though we are undecided on what her next steps would be? If I do list her, would I need to start over if during the process she decides that she will get her own place?

    Also, if she were to move in with me several months or even a year after the purchase, would I need to update my Webfile with this information?

    I’d appreciate any insight you all may have on this. I haven’t been able to get in touch with anyone in the office yet.


    The bottom line is naca strives to support growth and continuity in the neighborhood while building wealth in its members.

    Which is to say none of that can consistently happen if home owners are undecided about their living arrangements.

    Tell your sister to pick a plan and stick to it.

    If she lives with you then her debt will be considered yours. Her income will not. Unless she goes on the loan with you and the two of you buy the house jointly. Otherwise the bank views all adult household members as legal dependents.

    Whatever she decides to do will directly impact your qualification. It’s a lot easier for her to drop off than to be added.

    Now for after closing that’s a gray area. Technically it’s frowned upon. Renting is not allowed.

    But going back to my original point. You say you are undecided. Your MC will not qualify during your indecision phase because that’s precisely the opposite of nacas fundamental beliefs.


    @Nelsont Thank you for the feedback. I don’t understand how NACA can control how people’s situations may change in the future? If I get engaged several months after closing, and my partner moves in with me, would that be frowned upon too? If so, that’s just silly. As far as I’m concerned, I’m financially ready to purchase a home so that is my plan.

    Regarding my sister, she wouldn’t be renting from me if she did decide to move with me. But when you say renting is not allowed, does this mean at all during the entire time you have a NACA mortgage? Meaning, if I want to rent out a room or basement 5 years after purchasing, I couldn’t?


    As far as renting out a room I am not sure. It’s definitely a gray area. As I mentioned naca’s mission is to create wealth and stability in the neighborhood and the member and renting limits/decreases the stability part. You should read through both workbooks and the member agreement.

    What is definitely allowed and encouraged is purchasing a rental property outside of naca after you are settled in your naca home.

    What is not allowed is keeping your naca property without living in it yourself.

    Remember naca is a private organization so they are allowed to set criteria. They are bound by government regulations for counseling only. If you don’t give them a reason to check up i.e. pay your mortgage, live in the house, and volunteer then you shouldn’t have anything to worry about.


    @pianissimo What you do after closing in regard to household members is your business. NACA does not “frown upon” you renting a room out or allowing other people to move into your home with you. The only requirement is that you, as the owner of the home, occupy it as your primary residence unless and until it is paid off or refinanced under a different lender.

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