I want to share an incredible resource available for low-to-moderate income first-time homebuyers.

The Neighborhood Assistance Corporation of America (NACA) is a non-profit organization committed to “closing the racial wealth disparity gap through character-based lending.” 

According to NACA, the 4 most common barriers to homeownership are:

1. Limited savings

2. Unaffordable lending terms

3. Restrictive underwriting

4. Racism and biases

 “With a proven track record of over $20 billion in mortgage commitments, NACA offers fixed-rate mortgages featuring below-market interest rates, waived down payment and closing costs, and no mortgage insurance, which often creates an increase in purchasing power when compared to traditional loans with mortgage insurance requirements,” explains Hazward. 

Additionally, NACA provides complimentary credit counseling services with no minimum credit requirements for purchases.

Source and FMI: https://www.naca.com/

#firsttimehomebuyers 

#housingsupport

#racialwealthgap