Should I just wait?!?!

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    Hi there everyone I’m in a bit of a dilemma. So my 1st intake meeting with my counselor is on October 20th and I’m gonna be honest I’m nervous wondering if I should just wait. I’m really thinking that I need to have my situation really in order before I embark on this journey. I had some bad spending habits for a while and only within the last 2 months have been doing really well but my previous bank statements will show overdrafts which is obviously a no no when you’re trying to become a home owner and prove your ready. But since then I’ve opted out of the overdraft protection and have done really good with not spending more than I have but won’t they just make me wait a full 12 months to prove and show that I’m not over drafting anymore and that I’m saving and showing good habits before they even work with me or will I be able to continue forward within 3-6 months after showing no overdrafts and saving my funds up? I think I got overly excited first hearing about naca and then when I really looked at my finances, I’m like okay I don’t think I should make an appointment quite yet they’re going to laugh at me looking at my prior bank statements and the over drafting and spending that I carelessly did. Also, I really don’t have much debt just a 1 year old charge off from Capital one that was sold to collections and it was unfortunately less than 2 years old but I only have one more payment on that left to clear it. Also before learning of naca to increase my credit score I enrolled with this program called Self credit builder Loan and I also signed up for experian boost adding my cable, Netflix, and electricity bill payment history to boost my score. Would my MC tell me to do away with those programs if I moved forward? I’m just trying to make sure I’m really truly prepared and really don’t want to jump in if there’s things that I need to correct first. So if someone could help me and point me in the best direction I’d greatly appreciate it.


    Always start the process as early as possible.

    If you aren’t ready you will be given an action plan of exactly what you need to do to get ready. Then you will be qualified once you are ready.

    If you wait until you are ready even if you are preapproved through another bank you will still be given an action plan and advised to make another appointment before qualification.

    As far as your other questions your MC will advise you on exactly what you should and shouldn’t do moving forward. This way you don’t have to guess.


    Appointments are so hard to get, I would not only keep this one, but also make another one as soon as possible after the first so as to not be left in limbo.


    Hello gracem8676,

    As usual, nelsont pretty much hit the nail on the head. One of the worst things you can do, especially this early in the process, is try to anticipate what the counselor is going to say. You’ll always guess wrong about something, which could cause you unnecessary delays.

    Remember, this is a counseling program, not just a mortgage application process. Your counselor will guide you and coach on what you need to do (and don’t need to do) to achieve qualification in the shortest time possible. Take advantage of that! As I’ve always said, it’s never too soon to start the process.

    The clue that gives away the heart of your concerns is “they’re going to laugh at me looking at my prior bank statements and the over drafting and spending that I carelessly did”. Nope. We don’t judge you here. We will point out how those mistakes will affect your qualification process, but even then, it’s only to help show you the best and fastest way to reach qualification. In fact you’re more likely to receive a compliment on how you’ve turned things around and maybe a bit of advice on how to do it even better.

    I’m not familiar with the self credit builder, but the Experian Boost is useless where the NACA program is concerned, since we don’t use your credit score. It’s likely the self credit builder isn’t relevant to NACA either. If it’s free like Boost, it’s entirely up to you. If you are paying for it, there’s really no need to waste the money

    Long story short, you’re going to be fine. Just follow your Action Plan and any other instructions your counselor gives you and stay committed to becoming a homeowner no matter what or how long it might take. As long as you are willing to stick with it, so are we.

    Please keep us updated on your progress.

    Tim Trumble
    Online Operations, NACA

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