All my homeowners get in here?

[Azul]

I know plenty who have purchased with NACA.

But it's a fair point. What's the harm in having a NACA preapproval ready in case you need it? It's probably the best loan on the market for a buyer.

I had preapproval's from three lenders when I purchased my home.

It is but....

Why?

See below

NACA
No offense but a lot of home sellers in hot markets are not going to take you seriously because of the red tape that NACA has when it comes purchasing.

 

[Paisley Darts]

VA loan so I didn't have to put anything down. But I still put down 22%. Wanted to lower my payments so I could still save/invest monthly.

I typically put a few hundred dollars a month extra to principal. I have a 30 year mortgage but I am focused to pay it off in at least 15 years.

 

[1thouwow]

$0

 

[NSSVO]

I have a VA loan so 0%

Can't wait Riding this GI before I get a new job.

 

[Lordgodking Nyc]

I rent ($800 per month for 3 bedroom rent stabilized Apartment in a decent neighborhood in Brooklyn - rooms aren't very big though), I'm thinking of buying a house.


How do you guys deal with the mental stress of the repairs never stopping?

They got the FHA loan office on gates by McDonald's. Fall through and get that fixed 3.5

 

[the bossman]

I did 5 percent so that I could get the PMI to drop at a certain point

 

[Lordgodking Nyc]

I'm at 752 FICO, my debt ratio is at 18% and I have about 65k in cash...problem is I live in NYC and I wanna stay close to work. Not sure if I can afford NYC property though, unless I go to an area with higher crime, which I don't want to do cuz I have kids.

We just moved to Brownsville from suburban Jamaica queens. There is a higher number of events in the area and more police activity but we actually have a more sense of peace here. The homeowners seem to just ignore the nonsense and are content.

 

[Raw Lyrics]

We just moved to Brownsville from suburban Jamaica queens. There is a higher number of events in the area and more police activity but we actually have a more sense of peace here. The homeowners seem to just ignore the nonsense and are content.

I would love to stay in Brooklyn. I never googled prices in Brownsville though...will have to look into it

 

[el_oh_el]

I only put 4k down. FHA, so I got hit with the mortgage insurance. fukk it tho. I have two kids and a spouse and I need my space. Space = $$ in decent low crime areas, especially renting.
I'm hoping I can refi in 3 years of equity gain (area construction is booming) with a conventional loan.
Was about to do NACA but heard about the red tape and decided to just save and get my credit together. Didn't take too long.

 

[™BlackPearl The Empress™]

I only put 4k down. FHA, so I got hit with the mortgage insurance. fukk it tho. I have two kids and a spouse and I need my space. Space = $$ in decent low crime areas, especially renting.
I'm hoping I can refi in 3 years of equity gain (area construction is booming) with a conventional loan.
Was about to do NACA but heard about the red tape and decided to just save and get my credit together. Didn't take too long.

What do you mean buy red tape?

 

[Knowledge]

VA loan so 0%

 

[Sohh_lifted]

I went thru a first time home buyers program that put up 20k for me as a down payment. I had 8k saved up myself for a down payment so I was able to use that 20k to bring down the price of the house. Only drawback to the program is that I couldn’t refinance or sell for the first five years. But I wasn’t planning on doing that anyway. I’ve been here over five years now and wouldn’t trade being a home owner for the world. Yea the little dumb repairs add up and can be annoying. Like I just had to install a new garbage disposal which is easier than I thought it would be. Also recently one of my homeboys broke the bannister leading to the basement. But that was easy to fix too. Luckily I have a home warranty and my bro n law is a contractor so if any major shyt happens I’m covered

keep on inspiring us breh...props to you.

 

[OfTheCross]

I went thru a first time home buyers program that put up 20k for me as a down payment. I had 8k saved up myself for a down payment so I was able to use that 20k to bring down the price of the house. Only drawback to the program is that I couldn’t refinance or sell for the first five years. But I wasn’t planning on doing that anyway. I’ve been here over five years now and wouldn’t trade being a home owner for the world. Yea the little dumb repairs add up and can be annoying. Like I just had to install a new garbage disposal which is easier than I thought it would be. Also recently one of my homeboys broke the bannister leading to the basement. But that was easy to fix too. Luckily I have a home warranty and my bro n law is a contractor so if any major shyt happens I’m covered

what program was it and how did you find out about it

 

[seymour cake]

Need More threads like this.

 

[el_oh_el]

What do you mean buy red tape?

To get approved for a loan on such good terms (even with low-ish credit), you have to go thru their program steps for approval. This means saving consistently, keeping that amount saved, and a couple other stipulations they require.
There is still a chance you didn't do something correctly by the time you are approved, so there is a small chance that you could get to the end of the process and not get approved by underwriting due to some mistake