NACA - low rate zero down payment mortgages

Some of the best loan rates in the country for purchasing a home are offered by NACA , a housing assistance company that provides zero down payment loans at very low rates. They have a counseling process every applicant must go through , so it’s not as easy of a process as these online lenders or your local mortgage broker, but if you are looking for zero down payment and a great rate it’s definitely something to check out if you can do the legwork

This is a program for new purchases .but They also help people with unaffordable loans get mortgage modifications . If you’ve worked with NACA and have any data points to add please do so in this thread !

Link to their site

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Would like to know if this works for Refi’s or HEL - equity loan already exists and MIL lost FIL < 12 months after retirement and pension was cut in half. MIL too young for SS Survivor benefits.

Naca has two programs - a loan modification program for existing loans

And a new home purchase loan

I don’t think they do refi , but they might help get your lender to grant a loan modification

Interesting find. The first step to applying for an NACA mortgage is to attend a workshop. From this map of offices, I’d suspect only these states provide workshops.

There are also qualifications for purchase eligibility:

  • Member must not own another property when they close on the NACA mortgage.
  • Member must occupancy the home as long as they have a mortgage obtained through NACA.
  • Members need to participate in whatever way they feel comfortable and to adhere to NACA’s policies and procedures.
  • The maximum Acquisition Cost (i.e. purchase price plus required repairs after closing) is crucial to NACA’s mission. There is no maximum Acquisition Cost for Targeted Members or Targeted Areas up to the significant limit of a conforming loan (Click here).
    A.Targeted Members - Members whose income is less than 80% of the median income in the Metropolitan Statistical Area (“MSA”) where the Member is purchasing (Click here);
    B.Targeted Area - Properties in a census track where the medium income is less than 80% of the median income in the MSA (Click here)
    C.Non-Targeted - Members who are not Targeted Members or purchasing in a Targeted Area, cannot purchase a property greater than the maximum Acquisition Cost for the area (Click here)

Mortgage relief also has eligibility criteria.

It looks like most states are covered unless I am misunderstanding. Also, when I searched for a workshop, it listed many locations - NOT just the one office in my state.


Many stories online about the approval process taking a very long time. In some cases up to a year.

“Member must not own another property when they close on the NACA mortgage.”

Is that primary residence or including investment properties?