NACA Program in Massachusetts.

[Jennifer Ouch]

Wasn't sure which form category to post this on. I'm from Massachusetts and I went to my first NACA workshop on November 4th 2017. My first meeting with a counselor is December 14th 2017 once I called them a week later. I am looking into purchasing my first multi-family unit through this NACA loan mainly because of its little to no money down reputation. If anyone has tips or experiences they'd like to share relating to this let me know! I will update on my progress and what I find out during my first meeting. :)

[Matt Leonard]

@Jennifer Ouch 

I just checked out the NACA page and their eligibility rule #2 is "Member must occupancy the home as long as they have a mortgage obtained through NACA."

If you know you are going to live in the house for the next 30 years, it shouldn't be an issue, but who does that realistically?  That would be a deal breaker for me.  You might want to explore some other options through Mass Housing  masshousing.com or MyMassMortgage www.mymassmortgage.org

I did a similar program about 5 years ago. It was a Mass Housing program that went through TD Bank and their "Right Step Program" for which i had to meet certain criteria (generous income limitations, over 650 credit score, first time homebuyer course, first time landlord course, and probably a couple others). What it got me was a 30 year fixed rate loan at 3.125%, NO PMI, and only 5% down payment.