NACA Best in America Mortgage

NACA Best in America Mortgage is a first mortgage for homebuyers in Washington, District of Columbia, administered by Neighborhood Assistance Corporation of America (NACA). NACA's Best in America Mortgage is a first-mortgage product offered through the nonprofit Neighborhood Assistance Corporation of America with no down payment, no closing costs, no fees, no private mortgage insurance, and a below-market fixed interest rate, available without a minimum credit score through character-based underwriting. Borrowers can further reduce the rate by buying it down with NACA's interest-rate buy-down. NACA operates a Washington, DC office and the program is available to DC homebuyers who complete NACA's housing counseling and qualification process and remain owner-occupants for the life of the loan. Funding comes from NACA member-lender funds (program lenders) administered through NACA.

NACA Best in America Mortgage is a first mortgage and is repaid under the terms set by Neighborhood Assistance Corporation of America (NACA). Repayment is triggered by Standard mortgage amortization; owner-occupancy required for the life of the loan. The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

NACA Best in America Mortgage is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No minimum credit score - character-based (manual) underwriting; perfect credit not required. A homebuyer education course is required, through NACA (HUD-certified housing counseling agency); mandatory NACA homebuyer workshop and counseling.

NACA Best in America Mortgage sets its income limit as follows: No absolute income limit; membership is classified Priority or Non-Priority based on the borrower's income relative to the MSA median income, which affects the rate and eligible geographic area. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

NACA Best in America Mortgage can be used for Single Family, Condo, Townhouse, and 2-4 Unit. New construction is not eligible. Manufactured homes are not eligible.

NACA Best in America Mortgage serves homebuyers purchasing in Washington, District of Columbia. The program targets specific areas: Priority Members have a larger eligible geographic area; Non-Priority Members are limited to lower-income/targeted areas. DC is within NACA's service area (DC office).

Applications for NACA Best in America Mortgage go through Neighborhood Assistance Corporation of America (NACA), which publishes the current terms and the application steps on its own site. Funds are reserved through NACA Purchase Program: workshop, counseling, NACA Qualification, then mortgage application. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.