The NACA purchase program connects low- and moderate-income borrowers to affordable home loans and housing education. To qualify for a mortgage through the NACA program, borrowers must meet specific eligibility requirements, follow a detailed application process and become NACA members.
NACA home loans feature the following benefits:
→ Below-market interest rates
→ No down payment requirement
→ No fees
→ No closing costs
→ 15-, 20- or 30-year fixed-rate terms
→ No private mortgage insurance (PMI)
→ No credit score minimum
Because the primary goal of the NACA program is to offer access to budget-friendly homeownership, NACA interest rates are below market. As of April 26, 2023, NACA interest rates are 5.5% for a 30-year fixed-rate mortgage, and 5% for 20- and 15-year fixed rate mortgages.
