NACA INTEREST RATE

All Members receive a below market fixed rate. At NACA, there is no shopping around for the best interest rate. Members’ credit scores, loan to value ratios, or debt to income ratios have no impact on the interest rate.

NACA provides two interest rates that are less than the market rate. This is based on the below criteria utilizing the Metropolitan Statistical Area (“MSA”) and the Area Median Income (“AMI”).

1. Priority Members:
   Priority Members are low to moderate income Members or Members purchasing in a low to moderate income census trac.  They receive a mortgage one percent below market rate.
   1. Low – to Moderate – Income Members:  Members who have a total bank application income that is 100% or less of the AMI in the applicable MSA where the Member is purchasing, or
   2. Higher Income Members Purchasing in a Low to Moderate Income Census Trac: Members who have a total bank application income greater than 100% of the AMI in the applicable MSA where the Member is purchasing and the Member is purchasing a home in a census trac with a median family income that is 80% or less of the AMI of the applicable.
2. Non-Priority Members:
   Non-Priority Members are higher income Members purchasing in a higher income area meeting NACA’s eligibility or other criteria.  They still get a low rate without paying discount points, but one percent higher than Priority Members.