The non-profit Neighborhood Assistance Corporation of America, or NACA homeownership program, is a home ownership and community advocacy organization that works to build strong neighborhoods in rural and urban areas through affordable home ownership. NACA accomplishes this through counseling and its fair mortgage lending program, thereby allowing those with poor credit to either purchase a new home or modify existing predatory home loans to ones with better terms.
The NACA mortgage allows members to purchase homes with no closing costs, no perfect credit requirement, no fees and no down payment. NACA works to debunk the myth that lenders must raise fees and rates due to “credit risk” by offering mortgage interest at a below-market rate. By giving working citizens the benefit of a loan at prime rates, those individuals succeed in solving their financial troubles and making their mortgage payments. NACA uses state-of-the-art mortgage software called NACA Lynx to process its web-based underwriting.
The NACA program helps people with credit problems through its nationwide network of offices in order to best serve its members. NACA works to combat discriminatory subprime and predatory lenders, and to provide the best mortgage program in the country. NACA operates through community organization, in addition to offering free housing services, property renovation assistance, foreclosure prevention and financial assistance.