By Andrew Allimadi
Photos: NACA\Facebook
Thought you could not Afford to buy a home? Now think again.
NACA provides over 30% of all the housing counseling in the country and is the most effective in providing affordable long-term homeownership for both homebuyers and homeowners. NACA’s transformative mortgage product, counseling services, and character-based underwriting provides a model for how fair mortgage lending can successfully be made a reality for working families and people of color on a large scale. For more information, please visit www.naca.com.
Affordable homeownership has historically been inaccessible to millions of people of color and disadvantaged Americans, but a transformation is now occurring. The non-profit Neighborhood Assistance Corporation of America (“NACA”) has created a model that is providing unprecedented affordable homeownership on a large scale, for those who have been prevented from accumulating wealth and achieving personal security and housing stability through homeownership.
NACA’s Purchase Program provides comprehensive counseling with the option to access NACA’s Best In America Mortgage with no down payment, no closing costs, no PMI, no fees, and a below market fixed rate. Lenders have committed $20 Billion so far, including $15 Billion from Bank of America. NACA is the most successful private sector initiative in providing affordable homeownership.
NACA has built an unprecedented, successful track record of over 75,000 successful homebuyers – 90% of whom are people of color – with an extremely low foreclosure rate of 0.00012183 (i.e., about one-hundredth of one percent). NACA is the largest HUD certified counseling organization in the country, providing over one-third of all the country’s counseling. With 47 offices nationwide and growing, and over three million members, NACA is creating a new national standard for affordable homeownership.
