For low to moderate-income borrowers there are even some wonderful loan programs as shown below: • NACA – America’s Best Mortgage Program - Started in 1988, NACA has a tremendous track record of providing one of the best mortgage programs in America to low and moderate- income home buyers secured by $10 billion in funding commitments. The NACA mortgage allows NACA Members to purchase their homes with:
• No down payment • No closing costs • No fees
• No requirement for perfect credit • And at a below-market interest rate
you can get more information on this program by going to www.naca.com as it is not available directly from mortgage brokers that are not specifically signed up to deliver this program. As with most of the programs above, there are income, credit, and purchase price limitations. They are primarily designed for 1st-time homebuyers so the guidelines can be more liberal than standard conventional mortgage loans. There are steps to follow when applying for these types of loans/ grants. First, check with a qualified licensed mortgage professional as to the availability and guidelines that apply to your area and situation. They will go over all the requirements of each program and which programs will apply to you and your needs.
As always, I would be happy to recommend qualified mortgage
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