(In photo above a homeowner interacts with a Neighborhood Assistance Corporation of America counselor during an event . NACA Photo )
Thousands of homebuyers attend NACA’s Home Ownership events in cities across the country, and many are pre-approved for the NACA Mortgage in a single day!
This week, NACA will bring the organization’s four-day “Achieve the Dream” mortgage event to the Western New York area where NACA will highlight home ownership opportunities.
Attendees can attend home buyer workshops, meet with housing counselors, submit documents and have their files underwritten to be pre-approved for NACA’s mortgages. The 15-or-30-year mortgages have fixed interest rates below market. Bank of America has committed $10 billion to the mortgage program.
It’s been described as a one-stop mortgage operation, That means that people come in and the same day they can be pre-approved, and everybody gets access to the same mortgage product.
NACA underwriters evaluate each borrower based on their individual circumstances, instead of the traditional risk-based lending criteria.
NACA does what is called “character-based lending.” Rather than looking at someone’s credit score, they look at the credit reports to see the payments that they control.
The initiative officially kicks off Thursday, June 13 at the Rochester Riverside Convention Center and runs from 8 a.m. to 8 p.m. each day through Sunday June 16.
For more information see their flyer below.