MORE THAN 20,000 TO ATTEND EVENT TO ACCESS NACA’S BEST IN AMERICA MORTGAGE
(ATLANTA, GA) – The largest homeownership event in United States history will take place over five days from Thursday, September 13th through Monday, September 17th as more than 20,000 homebuyers from Georgia and across the United States attend NACA’s Achieve the Dream event at AmericasMart in Atlanta. They can be pre-approved for NACA’s Best in America Mortgage: no down payment, no closing costs, no fees, at a below market fixed rate without consideration of a borrower’s credit score. Ten years after the beginning of the mortgage crisis, NACA is the one bright light in mortgage lending for low-to-moderate income and minority borrowers.
The NACA (Neighborhood Assistance Corporation of America), event, called “Achieve the Dream”, will feature its one-stop mortgage operation, accessing NACA’s Best in America mortgage. Homebuyers, many of whom had given up on homeownership, can be pre-approved for NACA’s Best in America Mortgage the same day through the four-step process: 1. Homebuyer education workshop; 2. Providing full documentation; 3. Meeting one-on-one with a Housing Counselor; and 4. Meeting with an underwriter to be pre-approved for the NACA Mortgage or determine any additional steps to be taken. NACA provides the same extraordinary terms for all borrowers. As Forbes magazine stated in their comparison of the best low down payment mortgages, “There is one exception, NACA, that charges the same rate regardless of the credit score”. NACA has over $13 Billion for this mortgage committed by Bank of America and CitiMortgage.
The Atlanta Achieve the Dream event will be the eleventh one this year. Previous NACA Achieve the Dream events have been spectacularly successful with over 5,000 participants at each one and thousands of pre-approvals across the country. The Atlanta event will surpass the previous events by far and will destroy the myth that it is not possible to lend on affordable terms to low-to-moderate income and minority individuals on scale. With the historically low number of low-to-moderate income and minorities recently achieving homeownership, NACA is the one bright spot. This event, which is unprecedented in its size and scope, will significantly impact the affordable housing crisis.
The event runs Thursday, September 13th through Monday, September 17th from 8:00 a.m. – 6:00 p.m. each day, and will be held on the 4th Floor, Building 2 of AmericasMart, 230 Ted Turner Drive NW, Atlanta, GA 30303.
“The roadblocks to homeownership for low- and moderate-income people have reached crisis proportions, and the massive number of pre-registrations we have received for this event proves just how extreme it has become. More than 20,000 people will be attending during this five-day event”, states Bruce Marks, NACA founder and CEO. “People are coming because their families, friends, co-workers and neighbors around the country have told them that NACA is the organization to achieve affordable homeownership. With 50 offices nationwide, and our HUD approved housing counseling agency providing about 50% of the total counseling in the country, NACA is setting the national standard,” Marks continued.
NACA already has an impressive track record. During the mortgage crisis, through NACA’s Save the Dream events over 250,000 homeowners were able to modify their unaffordable mortgages, often the same day. The Atlanta Save the Dream events were incredible with tens of thousands of homeowners. Now, NACA’s Achieve the Dream event will provide the same extraordinary outcomes for many thousands of homebuyers and continue to assist homeowners with an unaffordable mortgage.
The NACA Mortgage, without the need for a down payment and the lender paying all the closing costs, eliminates the significant savings requirement that locks out many homebuyers. The NACA below market fixed rate with the ability to buy it down with government assistance provides a payment that makes it possible to purchase homes despite the limited supply. NACA does not use “Risk Based Lending” but underwrites each borrower based on their individual circumstances, eliminating late payments they do not control and considering compensating factors. All borrowers receive the same extraordinary terms:
- No down payment required
- No closing costs (lender paid)
- No fees
- Loan-to-value -100% for purchase and 110% for purchases with a rehab
- No consideration of credit score
- Below market fixed interest rate
- Term of 15 or 30 years fully amortizing
- Buy-down to permanently reduce the interest rate to virtually zero percent
- Purchase and renovation funds available
About NACA (www.naca.com):
The Neighborhood Assistance Corporation of America (NACA) is a non-profit organization dedicated to economic justice through home ownership and community action. Founded by economic advocate Bruce Marks over thirty years ago, NACA is the largest HUD certified counseling agency with more than two million members nationwide. Through programs such as the Best in America Mortgage and HomeSave, NACA has helped thousands of consumers modify an unaffordable existing home loan or secure a mortgage to purchase a new home. With 50 offices nationwide, NACA pledges a character-based, no fee, no down payment and no closing fee home loan. NACA’s proven process allows low to modest income consumers to realize the American dream of homeownership. Bank of America and CitiMortgage have committed $13 billion to NACA pre-approved mortgage loans. www.naca.com. #AchieveTheDreamNACA