Next step

[johnsoke]

I just received notification that I have been qualified by NACA. I do not have a qualified letter etc. what do I do next so that I can start to look for homes?

[Nelsont]

You need to sign up for the purchase workshop. It used to be held every week at the local office. Usually in the evenings. Mine was 6-9pm on Thursdays if I remember correctly. I think now it’s virtual. At the purchase workshop you should receive your qualification letter.

Once you receive your letter you can look at houses. This letter will take the place of a pre-approval letter usually required by real estate agencies and brokers before they take you to view homes.

Congrats and good luck!

[2BLESSED]

Congratulations

[johnsoke]

Ok thanks. I was confused because online it asks for me to print off my property request form. Does anyone know if the amount your MC tells you can be different from what the underwriter will approve for?

[Nelsont]

Yes it can. Not usually though. Your MC ought to have a good grasp on your situation and unless something changed since your file was submitted or you hid things from your MC I would not worry.

[johnsoke]

Ok, I’ve paid off a few debts since then is why I was wondering and I sent in the statements showing zero balance.

[Nelsont]

If you are expecting the underwriter to increase your approved amount that will not happen. They can decrease it if they feel uncomfortable. But an increase would require a new review from your MC and resubmit for qualification with all the documentation to support you can afford a higher payment that is still within the maximum allowed rules of 31% housing and 9% other debts.

Possibly even increased payment shock and MRF???

• This reply was modified 2 years, 1 month ago by Nelsont.

[johnsoke]

Thanks for the info! Yes I was sort of hoping it could be increased slightly

[kjenkins79]

@johnsoke have you been able to sign up for the virtual workshop. I was qualified today also and I keep getting an error when trying to sign up

[johnsoke]

Hey. Yes I was. I signed up this morning and they sent me a confirmation email afterwards.

[Faith81]

Congrats!!!!

[kjenkins79]

@johnsoke Thanks. I keep getting a error. Gonna try calling MC or CS to see if they can hlep.

[johnsoke]

Good luck and congrats!

[TTrumble]

Hello kjenkins79,

Before you try to call Member Services, please double check the information you are entering when trying to register for the workshop and make sure it is being entered correctly.

Also, if you aren’t using Internet Explorer as your browser, please try that.

With many of our staff members working from home right now, calls to many of the local offices are rolling over to Member Services and they are experiencing huge overloads and call wait times of two hours or more sometimes before a call gets through to a rep.

Also with MC’s working at home, they do not have access to their office phones and can only be contacted by email, which is always the preferred method anyway.

Tim Trumble
Online Operations, NACA
ttrumble@naca.com

[kjenkins79]

@trrumble thanks. My MC actually was calling to congratulate me and helped me register for this upcoming workshop.

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