This is good stuff! He is on point with his knowledge. I have a residential house through NACA. It took 6 mos, even with me having my ish together. I had a lot of patience and a lot of Jesus!!
Congratulations foreal … 🎉🎉🎉 MAY GOD FOREVER BLESS U ‼️✔️I just finally convinced my daughter to finally go through this program . I’m currently doing it wen my appt comes up aswell . She just had her first workshop class today 🎉🎉🎉
I got Charlotte Junko Walsh recommendation on ABC News in August 2022 and started following her lead and made $25,650 in two weeks. I lost my job in March 2022 and right now I'm back on top again and always win with her guidance.
Mrs Charlotte is the strategic trader that manager my account. She's really a professional i earn my first investing profit of €50k and she does not fail.
This is the best NACA video I have seen to date . I have been trying to convince mt husband to complete this program he is sold. Thank you for what you do for the culture😊😊 Need that brothers book
Great info! But a few misconceptions. You can't own any other properties when closing with NACA. So if you have a home you'd have to sell it before closing on the second. The payment shock is great for saving cash, but it's actually to demonstrate that you can afford the difference in your current rent/ mortgage and the mortgage of the new property. You can always save more but you have to save the difference at a minimum. Also, there is a limit in the amount of money you use to buy down the interest rate. Unfortunately, you can't drop $70,000 on a home with them lol. They are definitely over worked! A good realtor and mortgage counselor will go a looong way.
He said all that you just said. At least from what I heard. Hence him saying after the second one closed, he went on title with a quick claim. He has done multiple properties as investments. 😊
What he doesn't mention; You will not be approved for a NACA if you own your own business. They look at your adjusted gross income not your gross income. If you write a lot of things off that means your income is cut in half. They don't care if you have an excellent FICO score or a lot of money to put down. All they care about are W-2s and showing that you've worked for the same man for at least 2 years. In this regard they are no different than a traditional lender.
@@youtubecommenter1000 Why would I lie? I've actually had more luck with a conventional lender like a bank. NACA is for people who have no $ saved and bad credit.
@@LeslynFairfield Once again lie, plenty of people with good credit and savings use NACA because of the benefits. NACA makes you save and you while they don’t care about credit, they do care about on-time payments and you can’t have a recent bankruptcy or repossession.
Does NACA allow people who make 60k or less per year to buy a 300k-400k home or no? We made 43k last year and barley got approved for 150k through other banks. Is there more wiggle room with NACA???
This is exactly what I needed to watch. I’m about half way through the pre approval process and It’s starting to feel a little overwhelming. Especially dealing with the “counselor”
Handwritten 1003's, I so remember going to clients homes every evening to do the 1003, good faith, TIL and pull credit and collect funds for credit and appraisal. I'm showing my age, but we only had fax machines. There was no such thing even as desktop underwriting. I can't believe the complaints people say as if the NACA program is so difficult. The mortgage process is as such.
i would love more info on what to do and look for when trying to buy a multi family home for my family to help build generational wealth. i have patience and trying to learn. how do i turn to?
i just worry about how this looks as far as tax retutns bc the income is looked at as taxable from irs right? bc even through an llc its a lil diff now bc of the storefront+duplex benefit bt IDEALLY, what does this look like w taxes?
note: i'm in the shock savings part w the mc..she upped my ss bc i got a raise twice & so have to 'start over' twice w showing i can save x amt for 3 months & she upped my mrf just bc she felt like it. literally. bc she wants me to get a duplex even though I sternly said i wanted nc sfh...*shrugs* but it is a lot of docs to submit and a few re-submit bc of their renewed platform & depending on if you enter the text before uploading the pdf then it gets deleted and you have to do it over bc the way their system is. you have to upload the pdf first and then enter the text and submit all in one go on one subject eg savings, etc. so yea there are areas of frustration
Gross rents less expenses to taxable income. Or loss limited to what is allowed by law Why worry Hire CPA to do taxes Actually most cpa are a little more then hr block
A lot has changed with NACA just left a seminar. The Lien doesn’t fall off after 5 years anymore it stays on for the entire life of The loan or until you refinance which you can’t do for the first 5 years.
How is it going for you? I hear so many people saying they gave up because of lack of communication and causing them to lose houses that they wanted by not meeting deadlines
Does NACA still require you to work on the house you are moving into or work on houses that are being built? I remember a certain amount of volunteer hours was a requirement of the program
You're so correct. I was working with NACA. I got impatient and left. Kept resubmitting papers and etc. Good for you for sticking through with it. Yep. I was in my feelings. Thanks for the information.
@@kekepaliomathis is what’s been holding me back. I own currently. How do they help you sell your current property? I didn’t see this information on their website
@@shymorris2313 im not sure naca deals with bank of America so most likely it will be with them or another bank naca is affiliated with. Now I do know naca wont allow you to cash out the heloc. They allow you to do home improvement, repairs, health and safety code violations with the heloc no cash though.
How'd you get a second property using NACA? The website says that you can't already own any home to qualify. Did you move your first into an LLC or something to get around that rule?
I just completed my NACA information session online and now they are requiring you to live in the home for the life if the loan. If you want to get another property, you will need to use another Mortgage lender
Yes, but they can't penalize you after 5 years (the lien is decreased by $5k/year). So you're free to refinance and do what you want with the property.
Key words used to and you obviously were one of the ones that don't know shit! It's a conventional Bank of America mortgage loan. NACA is non profit and they only underwrite the loan with yo slow ssa 😂
Key words 'used to' so you obviously were one of the one's that don't know shit 😂 It's a Bank of America CONVENTIONAL LOAN, NACA is nonprofit they only underwrite the loan. Witcho slow ssa
Even worse that you used to work there and don't know it's a Bank of America CONVENTIONAL mortgage. NACA is non profit sweetheart they just do underwriting....no wonder you don't work there anymore 😂
Naca is for people that is looking to buy a house in the future like in 2 years from now. The amount of paper work they will be asking you ,you rather start working on your credit and start saving your money to put down on fha. If you looking to buy a house today you will need to have a good credit and a minimum of 5% down.
FYI you can get a conventional loan with 100 percent financing, 1% down and also 3% some with no PMI but there are income restrictions , it’s other loan options besides NACA I done a lot of research.
I was able to get through NACA in 30 days - went into housing search.
I've been looking for a house for a year.
Ask your counselor if they can take referrals. They obviously are on top of getting people through the process
@@tamaraforte3769 Thanks for your advice, but I closed on my new build.
This is good stuff! He is on point with his knowledge. I have a residential house through NACA. It took 6 mos, even with me having my ish together. I had a lot of patience and a lot of Jesus!!
Congratulations foreal … 🎉🎉🎉 MAY GOD FOREVER BLESS U ‼️✔️I just finally convinced my daughter to finally go through this program . I’m currently doing it wen my appt comes up aswell . She just had her first workshop class today 🎉🎉🎉
Never knew NACA was a conventional loan. This was very informative. Thank you.
Investing appropriately today can save you a whole lot of stress in the nearest future
Yes you're right 🗝️
I got Charlotte Junko Walsh recommendation on ABC News in August 2022 and started following her lead and made $25,650 in two weeks. I lost my job in March 2022 and right now I'm back on top again and always win with her guidance.
Mrs Charlotte is the strategic trader that manager my account. She's really a professional i earn my first investing profit of €50k and she does not fail.
Oh please, how can someone get in touch with Mrs Charlotte!!?
I'm a living testimony ☺️, all this are truth!!!
Amen, we have to be patient & leave the rest up to God as you stated. Thx for informing us about the lengthy process. I definitely did Not know that!🤷
he means $25/annual membership fee & additional for credit report for each person on the *assumed loan* which is about $17/year each person.
This is the best NACA video I have seen to date . I have been trying to convince mt husband to complete this program he is sold. Thank you for what you do for the culture😊😊 Need that brothers book
Great info! But a few misconceptions. You can't own any other properties when closing with NACA. So if you have a home you'd have to sell it before closing on the second.
The payment shock is great for saving cash, but it's actually to demonstrate that you can afford the difference in your current rent/ mortgage and the mortgage of the new property. You can always save more but you have to save the difference at a minimum.
Also, there is a limit in the amount of money you use to buy down the interest rate. Unfortunately, you can't drop $70,000 on a home with them lol.
They are definitely over worked! A good realtor and mortgage counselor will go a looong way.
He said all that you just said. At least from what I heard. Hence him saying after the second one closed, he went on title with a quick claim. He has done multiple properties as investments. 😊
What he doesn't mention; You will not be approved for a NACA if you own your own business. They look at your adjusted gross income not your gross income. If you write a lot of things off that means your income is cut in half. They don't care if you have an excellent FICO score or a lot of money to put down. All they care about are W-2s and showing that you've worked for the same man for at least 2 years. In this regard they are no different than a traditional lender.
None of this is true.
@@youtubecommenter1000 Why would I lie? I've actually had more luck with a conventional lender like a bank. NACA is for people who have no $ saved and bad credit.
@@LeslynFairfield Once again lie, plenty of people with good credit and savings use NACA because of the benefits. NACA makes you save and you while they don’t care about credit, they do care about on-time payments and you can’t have a recent bankruptcy or repossession.
Does NACA allow people who make 60k or less per year to buy a 300k-400k home or no? We made 43k last year and barley got approved for 150k through other banks. Is there more wiggle room with NACA???
What about investing those 70k in another property that will pay you more than what you save monthly...
Thank you sharing great information ❤AMEN 🙌🙏✝️
What is this mans name? What is his book called?
This is exactly what I needed to watch. I’m about half way through the pre approval process and It’s starting to feel a little overwhelming. Especially dealing with the “counselor”
Handwritten 1003's, I so remember going to clients homes every evening to do the 1003, good faith, TIL and pull credit and collect funds for credit and appraisal. I'm showing my age, but we only had fax machines. There was no such thing even as desktop underwriting. I can't believe the complaints people say as if the NACA program is so difficult. The mortgage process is as such.
Thanks for the video. I start my first workshop this weekend and this video helped humbled me. I’m ready for this process
How did it go?
i would love more info on what to do and look for when trying to buy a multi family home for my family to help build generational wealth. i have patience and trying to learn. how do i turn to?
i just worry about how this looks as far as tax retutns bc the income is looked at as taxable from irs right? bc even through an llc its a lil diff now bc of the storefront+duplex benefit bt IDEALLY, what does this look like w taxes?
note: i'm in the shock savings part w the mc..she upped my ss bc i got a raise twice & so have to 'start over' twice w showing i can save x amt for 3 months & she upped my mrf just bc she felt like it. literally. bc she wants me to get a duplex even though I sternly said i wanted nc sfh...*shrugs* but it is a lot of docs to submit and a few re-submit bc of their renewed platform & depending on if you enter the text before uploading the pdf then it gets deleted and you have to do it over bc the way their system is. you have to upload the pdf first and then enter the text and submit all in one go on one subject eg savings, etc. so yea there are areas of frustration
Gross rents less expenses to taxable income. Or loss limited to what is allowed by law
Why worry
Hire CPA to do taxes
Actually most cpa are a little more then hr block
@@keithwisdom1663 are you a CPA? lol
Amen! Preach MG! Give people Grace!
Nice interview! Thank you!
I’m going through NACA hell now 😩
Great video! He broke it down well!
A lot has changed with NACA just left a seminar. The Lien doesn’t fall off after 5 years anymore it stays on for the entire life of The loan or until you refinance which you can’t do for the first 5 years.
Really?? It still says 5 on the website
How is it going for you? I hear so many people saying they gave up because of lack of communication and causing them to lose houses that they wanted by not meeting deadlines
Thanks so much for this information. I wish I could talk to the guy getting interviewed.
Great information, I'm definitely going to have my children get this loan, thanks for sharing.
Does NACA still require you to work on the house you are moving into or work on houses that are being built? I remember a certain amount of volunteer hours was a requirement of the program
I didn’t see anything on their site but I know habitat of humanity does require that! I saw that NACA requires a class
That's Habitat for Humanity. They require you to physically help build. They call it sweat equity. I don't know if they still require that though.
So true I had my first intake today
Facts
I never knew that the mortgage process is not a streamlined automatic process.
naca will max you out at $950,000 really
You're so correct. I was working with NACA. I got impatient and left. Kept resubmitting papers and etc. Good for you for sticking through with it. Yep. I was in my feelings. Thanks for the information.
That boy spittin fire
He’s the best explanation of it, every other video and article is so ass. This guy is spitting facts
What if you're on a fixed income
I did the same thing in Atlanta with a duplex! I tell everyone to try NACA . I didn’t know to go through it again but I will now!
I wish I knew about NACA back when I started buying, I just found out this couple months ago, great information.
Did you already own a home when you applied with NACA
@@damita4336 nope it was my first home! I did a lot a research to even find the program cuz they don’t advertise
@@prayerrequestedfrizzle5103 no they don't because they don't want certain groups to become aware of the help that is available
So I’m in the naca program do you need the 10-15k before you go through the process?
Good job Tookes!👌 Great Questions!
At first glance I thought this was the guy who had 7 kids with 7 different baby mamas 😂 I was like wait…
Can you do this without tax info. Like the bank statement loans?
You’ll have to have tax info
This is golden. Thank you
Does anyone know if it’s possible to buy a second property after getting your first with NACA before the 5 years are up?
I want to know this too!
No their site says you are required to be in the first home for 5 years!
You can, but it will cost you. There is a $25K lien on the loan, but it decreases by $5k a year.
I'm loving this kind of information!
Fr it aint a fre house u got pay them fr this aint no hack
So he has more than one property from NACA?
What if you’re not a first time home buyer can you still apply for it 🤔
yes. But you can't have a property at the time of applying for NACA. You can sell through them and purchase another one through them too.
@@kekepaliomathis is what’s been holding me back. I own currently. How do they help you sell your current property? I didn’t see this information on their website
Can you get Heloc on a home that was purchased thur Naca.
Yes
Do you have to go through Naca to get a Heloc
@@shymorris2313 im not sure naca deals with bank of America so most likely it will be with them or another bank naca is affiliated with. Now I do know naca wont allow you to cash out the heloc. They allow you to do home improvement, repairs, health and safety code violations with the heloc no cash though.
If you do not have money saved at your bank but have money saved in your 401k is that acceptable?
Yes
🔥
5:45 yes thats right unless you refinance
Basically like a owner finance deal
How'd you get a second property using NACA? The website says that you can't already own any home to qualify. Did you move your first into an LLC or something to get around that rule?
The second property he got was in his girlfriend's name. After they closed his name was then added.
The site says u can get a second home through NACA after 5 years!
Do you not gain equity in your property with Naca?
But alot better
I just completed my NACA information session online and now they are requiring you to live in the home for the life if the loan. If you want to get another property, you will need to use another Mortgage lender
Yes, but they can't penalize you after 5 years (the lien is decreased by $5k/year). So you're free to refinance and do what you want with the property.
Or get a multi-family
where can I ask Mg the Mortgage guy questions and do a preapproval through him and his people?
#CorporateTrapEnterprizes
Thank you for your testimony.
The Cheat code!!!
Great info. Thanks for this!
Cyhi brother?
I wish I could get that interest rate through a conventional loan.
Great information 💥💥💥💥💯
Good Money 🤑
Can white people sign up for a NACA loan?
Of course my dear! It's not limited to any specific race. :)
Naca is for anyone
@@DelilahZoe why does it say for blacks and other minorities?
😂
Naca is not a conventional loan it is a nonprofit loan.
Wrong 100%
@@carljames9700 I am wrong 100% stfu know before you call yourself correcting someone. I used to be a loan officer for them. It's very true.
Key words used to and you obviously were one of the ones that don't know shit! It's a conventional Bank of America mortgage loan. NACA is non profit and they only underwrite the loan with yo slow ssa 😂
Key words 'used to' so you obviously were one of the one's that don't know shit 😂 It's a Bank of America CONVENTIONAL LOAN, NACA is nonprofit they only underwrite the loan. Witcho slow ssa
Even worse that you used to work there and don't know it's a Bank of America CONVENTIONAL mortgage. NACA is non profit sweetheart they just do underwriting....no wonder you don't work there anymore 😂
Fantastic
What is the program called for white people who experience racism?
This program is for everyone, so stop.
Welfare
Naca is for people that is looking to buy a house in the future like in 2 years from now. The amount of paper work they will be asking you ,you rather start working on your credit and start saving your money to put down on fha. If you looking to buy a house today you will need to have a good credit and a minimum of 5% down.
FYI you can get a conventional loan with 100 percent financing, 1% down and also 3% some with no PMI but there are income restrictions , it’s other loan options besides NACA I done a lot of research.
@ShayWilliam341 pmi is a must nowadays, and especially the interest rate is around 7%.
@@willtacoma2ndgen661why would you need Pmi it will drop off when you’re home equity is at 20 percent
@@ShayWilliam341Hi can I know more about these other programs please.