Hi, I’m Jeff Crampton with Keller Williams Realty, and in this video we are going to discuss the NACA home financing program. I have over 14 and a half years of Mortgage financing experience, and I’m in my ninth year as a licensed real estate agent here in Las Vegas. Over the last five years. I’ve helped over 25 clients use the NACA program to finance the purchase of a new home. I have closed four transactions this year for clients who are using the NACA program, and I’m currently working with two clients who are pre-approved to use the financing, so I understand this program from both the real estate side and the financing side, in a way that most agents can’t. And I am gonna tell you everything you should know about this program, but before we get started, if this is your first visit to my channel please hit the subscribe button, which by the way does not obligate you to anything, and ring the bell if you want to be notified as to when I post my next video. Okay, let me start by saying that the NACA program is not for everybody. Let me repeat that. The NACA home financing program is not for everybody. And If it does not work for you in one way or another, I work with one of the best mortgage professionals in the business, and I would be more than happy to refer you to her. But if NACA financing is something you are interested in pursuing, let me tell you everything you need to know about it up front. Let’s start with the fact that NACA is a nonprofit organization, that gets their funding from the Consumer Financial Protection Bureau It does not require any money down, which means no down payment There is no mortgage insurance required, which means it is not included in your monthly payment. This allows you to buy more house or have a lower payment. It does not require perfect credit or even to have a credit score. And the buyer is eligible for this program two years outside a chapter 7 bankruptcy, or foreclosure, or a short sale. It comes in two versions, either a 30-year fixed or a 15-year fixed. Interest rates for the thirty-year fixed usually run about 0.25 percent below the market rate and interest rates for the 15 year program. Usually run about 1/2 a point below the market rate. Also, the interest rate can be bought down to below 1%, fixed for 30 years. Naca will also loan up to 110 percent of the estimated repaired value of a property, if home repairs are needed. These can include cosmetic things such as new countertops and cabinets, new flooring, and new paint. The bank will also pay the property transfer tax, which is normally a seller fee. And Last but not least, there are no loan related fees with the NACA home financing program, which means no origination, no underwriting, no processing, and no appraisal fee. NACA financing is a conventional program, and as such, the maximum loan amount is four hundred and eighty four thousand three hundred and fifty dollars in Clark County. If these loan terms sound too good to be true, I can assure you they’re not. But there’s a lot more you need to know about this program. So, if you’d like more information, please contact me at 702 306-2773, or email me at [email protected] Or you can always message me on my Facebook page which is, Jeff Crampton Keller Williams Realty. Thank you very much for your time, your attention, and for watching my video. Bye-bye.