Successful Re-Qualification at Achieve The Dream Attendance

[Grateful77]

Hello Everyone,

I just wanted to tell you of my experience at the Achieve the Dream event today. My case is a little different, as I was already qualified prior to attending the event but wanted to seek a higher qualification amount. (I have been NACA qualified for several months but originally underestimated how much I would need to obtain my dream home. When I was first qualified I suggested the mortgage payment I wanted to be qualified for, and it was way under the 31% housing ratio. Now that I have been in the housing search process, I realized I should have asked for a higher payment, as it would still fit comfortably in my budget.)

So when the event began today my queue position was 81. I received a text at 9:22am that a MC would likely call within the next hour. By 9:38am, I received the call from the MC, so it moved very quickly for me. My appointment lasted for almost two hours. The MC was pleased with my webfile and all of the documents I had uploaded to verify my affordability and my file was submitted to the underwriters. Within an hour I received a text that I was qualified!!! Praise God!

I am so grateful that NACA is doing these virtual achieve the dream events during COVID, because I prayed I wouldn’t have to wait days to continue my house search. This event allowed me to be qualified the same day my file was submitted. I also attended the virtual Purchase Workshop they offered and my updated qualification letter was already uploaded to my file. (I’m not sure if you will receive the qualification letter this quickly if this is your first time being qualified.)

I just wanted to share with you my experience to give you an idea of how the event went for me. I would encourage you to have everything already uploaded to your webfile to make the process go smoothly.

[sweetlilly]

Thanks for sharing.
Certainly hoping for the same success when i attend mine this Sunday.
In the meantime i am uploading just about every relevant doc they require so as to speed up the process.

[Grateful77]

@sweetlilly: It’s my pleasure to share since I have benefited from everyone else sharing on this site. I pray you have a successful meeting as well. Yes, keep uploading and have things easily accessible if asked to upload some things again. LOL

[sparkledgp]

@Grateful77 I now have to do the same thing (re-qualify as it expired) and it was suggested I do the next virtual Achieve The Dream.

when I registered for the event, I got an email confirming registration and it included a link that says “pre-intake process” which leads to a place to upload documents

Did you upload documents through this pre-intake link? (since I was already qualified, Ive technically already done intake)

Or did you simply keep uploading documents to your file the regular way? I want to make sure everything is set for the counselor

thank you!

[Grateful77]

Hey sparkledqp,

I don’t remember getting a link to a “pre-intake process,” but I know I didn’t upload anything to a new place but made sure everything was updated in my NACA folder. (This turned out to be important because this was the first question the lady asked before she would even begin with me. I’m afraid if I told her everything was not uploaded she would not have proceeded with me.) (Also, not sure if they are doing a new process since my re-qualification happened in May and was the first go round with the virtual Achieve the Dream event, but unless you see anything different I think making sure your NACA folder is always updated is important. I pray all goes well for you.

[sparkledgp]

@Grateful77 did you have to volunteer again for re-qualification or did they just accept your first round.

thank you so much for your help! and congratulations!

[Grateful77]

@sparkledgp: It’s still a seller’s market where I live and due to COVID, not a lot of houses are on the market so I’m still waiting patiently for my dream home, but thank you.

But to answer your question, no the lady didn’t ask me about if I had volunteered. I had only volunteered once after I was initially qualified and planned to do another volunteer opportunity after I was under contract for a home.

[sparkledgp]

@grateful77 Ok thanks

I guess I’m trying to figure what docs to make sure I update (I’ve been keeping up with bank statements/ paystubs etc)

Did you do a new employment verification and rent verification?

Thanks

[Grateful77]

@sparkledgp, no thankfully I didn’t have to do another rent/employment verification. None of that had changed so I guess they didn’t have to re-verify it. I will say, she asked what had changed that would show I could increase my qualification amount. For me, my student loans would be failing off and I hadn’t reached my max debt to income ratio they speak of in the book about how much you can be qualified for, so she could see I could afford more.

When it came to the information I uploaded, it was my paystubs, bank statements. (Remember they go back at least three months so make sure you have all of them for at least 4 months.) Also since the last time I was qualified I had a new updated tax return and tax transcript and W-2 so I uploaded that as well.

Also, be prepared to pay for them to run another credit report check. I just entered my payment information while we were on the phone together to pay for that.

[sparkledgp]

This was very helpful! I appreciate it

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