My experience buying with NACA (Neighborhood Assistance Corporation of America) Over the past 4 years, I have been going through the whole process of buying a home for the first time and spent plenty of time on this sub to learn from others. Unfortunately, there aren't many posts about NACA, so I thought I'd share my experience so far of trying to buy a home with them for the next person who comes looking. Pros: 1. No down payment and no PMI 2. No closing costs or fees 3. Lower Interest rates than the actual market 4. Homeownership and personal finance education through mandatory workshops 5. NACA team helping with the process Cons: 1. Can be a longer and more intensive process 2. Stricter affordability limits (making sure you don't buy more than you can afford) 3. Property location limits (some high-income earners are limited to where they can buy) The number one complaint I read about NACA is how long it takes to go through the process. This can be true for those unprepared to buy, as NACA requires specific requirements to be met before pre-approval. This includes things like 2 years at your job, several months of saving your desired monthly mortgage payment and reducing credit card debt. But the process can be quick and easy if you've already met those requirements. My main advice is to go to the Counseling Sessions prepared. If possible, have all the required documents completed before your first meeting (this includes things like bank and credit card statements, tax documents, rent payments, etc.). You already know what they’re looking for because it’s all listed in the various handbooks, and they explain it all at the initial Workshop. Pay attention, keep notes, and ask questions. I had already been putting money away into a ’saving for house’ savings account, so I didn’t need to make any adjustments to show that I could save. But if you need to start putting money away, do so as soon as possible. Other than that, I have been lucky to have an experienced and helpful counselor, All in all, so far, my experience with NACA is good. I certainly wouldn’t have been in a position to purchase a home at this time if I had to provide a down payment with a worse interest rate. I can either buy a cheaper one or wait another year or 2 to save up a down payment. Through NACA, I don’t have to compromise, but I also know I wouldn’t overbuy because of their thorough approval process. Good luck, everyone!