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About the NACA Homebuyer Program
The NACA Homebuyer Program is a 100% financing mortgage from the Neighborhood Assistance Corporation of America, a national nonprofit with its national office in Boston. It requires no down payment, no closing costs, no fees and no mortgage insurance, and NACA does not consider credit scores. On October 9, 2026, NACA posted a 6.625% 30-year fixed rate for Priority Members. Bank of America funds $15 billion of NACA's $20 billion mortgage commitment.
NACA has no hard income cap, but income sets your member status. Priority Members have combined borrower income at or below the median family income for the metro area (MSA) where they buy, and they can purchase anywhere. Non-Priority Members earn above that median, must buy in a Priority Area (a census tract with median income below the MSA median), and paid 7.625% on October 9, 2026. You do not need to be a first-time buyer, but no household member age 21 or older may own any other property at closing. Instead of a credit score, a NACA counselor reviews 24 months of payment history, weighting rent most heavily. Housing costs are capped at 33% of gross income and total debt at 40%. The stricter rule is savings: if your new payment exceeds your rent, you must save the difference for 3 to 6 months.
Loans come in 30-, 20- and 15-year fixed terms with no PMI. NACA instead records a $25,000 soft-second lien that requires you to live in the home. Membership dues are $36 per household per year, and the single-family loan limit is $766,550 in most areas. FHA requires 3.5% down plus 1.75% upfront and 0.55% annual mortgage insurance, and HomeReady requires 3% down with PMI. NACA's tradeoff is time spent in workshops and counseling before you can shop.
How much assistance
Eligibility
- Income limits: No hard income cap. Priority Members (combined borrower income at or below the median family income for the MSA where they buy) get the lowest rate and can buy anywhere. Non-Priority Members (income above the MSA median) pay a higher rate and must buy in a Priority Area, a census tract with median income below the MSA median.
- Purchase price limit: $766,550
- First-time buyer required: No
- Geographic restrictions: Available nationwide. NACA has a local office serving the Raleigh-Durham area.
- Homebuyer education required: Yes
How to Apply for NACA Homebuyer Program
Step 1: Attend the free NACA Homebuyer Workshop
Register through naca.com/purchase for the free Homebuyer Workshop, which runs about four hours in person or online. You receive a NACA ID afterward. North Carolina buyers can work with the Raleigh office at 4112 Pleasant Valley Road, Suite 220 (919-855-8484) or the Charlotte office at 5500 Executive Center Drive (704-536-7676). National Member Services is 425-602-6222. The workshop also explains how Priority and Non-Priority status affects your rate.
Step 2: Complete the Member Portal and documents
Finish all ten sections of the Member Portal at portal.naca.com, including the $36 annual household membership dues and a credit report. Upload pay stubs from the last 30 days, two years of federal tax returns and W-2s, and three months of statements for every bank account (12 months if you are self-employed). Then schedule your intake appointment with a NACA counselor through the portal.
Step 3: Work with a counselor to become NACA Qualified
Your counselor reviews 24 months of credit history, your rent payments and your budget, then gives you an action plan and a follow-up date. You need stable, verifiable employment for at least one year. Liens and judgments must be resolved and defaulted student loans rehabilitated. If your new payment will exceed your rent, you save the difference for 3 to 6 months. Chapter 7 filers must wait 24 months after discharge.
Step 4: Finish the Property and Purchase Workshops
Attend the Property Workshop webinar, held Tuesdays from 6:00 to 7:30 p.m. Eastern, before you qualify. After qualifying, attend the mandatory Purchase Workshop on a Thursday evening at a NACA office or online. You then receive a NACA Qualification Letter and Affordability Form showing your maximum monthly payment. Qualification expires six months after the Purchase Workshop if you have not found a home by then.
Step 5: Find a home and sign a contract
Shop within your Affordability Form and NACA's single-family limit of $766,550 in most areas. Eligible homes include single-family houses, condos, two- to four-unit properties, and modular or manufactured homes. Before signing, run the address through the FFIEC Census Geocoder to confirm Priority Area status and any location discount. Upload the signed purchase and sale agreement through the Member Portal within 24 hours of signing.
Step 6: Lock your rate and close
The participating lender locks your rate when it receives your application and issues a Loan Estimate, and the lock holds until closing. Bring earnest money, inspection costs, prepaid taxes and insurance, and one month of reserves (two months if your payment jumps more than $300). Allow at least 35 days to close, or 45 to 60 days if the home needs significant renovation.
Real Cost Example
On a $250,000 home in Greenville, the NACA Homebuyer Program finances 100% of the price, so the loan is $250,000 with zero down. At NACA's October 9, 2026 Priority rate of 6.625% for 30 years, principal and interest run about $1,601 a month. Under NACA's 33% housing ratio, that payment alone needs about $4,850 in gross monthly income. An FHA buyer on the same home would need $8,750 down.
Estimated closing costs in the Greenville area run $5,000 to $7,500, and the NACA lender pays them without adding them to the loan. The buyer still needs earnest money, a home inspection, prepaid taxes and insurance, and one or two months of reserves. A seller can contribute up to 10% of the price, or $25,000 here, toward a rate buy-down.
On a 30-year NACA loan, every 1.5% of the mortgage paid at closing permanently cuts the rate by 0.25%. On this $250,000 loan, each 0.25% step costs $3,750. If the buyer negotiates an $11,250 seller contribution, well under the $25,000 limit, the rate drops 0.75%, to 5.875%. The payment falls to about $1,479, saving roughly $122 a month, or about $44,000 over 30 years.
Combining With Other Programs
NACA's grant FAQ says combining down payment assistance grants with the NACA mortgage is encouraged. Because the loan already covers the down payment and closing costs, grant money goes toward a permanent rate buy-down, which NACA calls the most effective use of the funds. NACA lists Charlotte among the areas where grants have already been approved. NACA subordinates its own $25,000 lien to the grant lien, and your office director enters the grant into NACA Lynx for lender approval.
NACA cannot be paired with programs that require their own first mortgage. The NC 1st Home Advantage Down Payment ($15,000) only works with the NC Home Advantage Mortgage, and FHA, VA and USDA loans are separate first mortgages. Any city or county grant in Raleigh, Durham or Asheville must be approved by NACA and its lender, so ask the administrator early. Call NACA's Raleigh office at 919-855-8484 before you apply.
Seller contributions are the other lever. A seller can pay up to 10% of the price toward your buy-down, and the total buy-down is subject to the HOEPA high-cost limit, which NACA puts at about 4% to 6% of the mortgage. On the 15-year term, 1% of the mortgage buys a 0.25% rate cut instead of 1.5%.
Pros and Cons
The NACA Homebuyer Program removes nearly every upfront cost. There is no down payment, no closing costs, no lender fees and no PMI, and the October 9, 2026 Priority rate was 6.625% for 30 years. On a $250,000 Greenville home, that saves the $8,750 FHA down payment plus $5,000 to $7,500 in estimated closing costs. Credit scores are not used, which helps renters with thin files and steady rent history. Buy-downs are strong: 1.5% of the loan cuts the rate 0.25%, and sellers can contribute up to 10% of the price.
The biggest limitation is the process. You attend three workshops, complete counseling, and may need 3 to 6 months of saving the payment difference before you can make an offer, and qualification lapses six months after the Purchase Workshop. No household member 21 or older can own other property at closing, and a $25,000 soft-second lien enforces owner occupancy. Buyers above the metro median income paid a rate one point higher on October 9, 2026 and must buy in Priority Areas. Faster alternatives include FHA (3.5% down), HomeReady (3% down) and the NC Home Advantage Mortgage.
Frequently Asked Questions
Does NACA require a minimum credit score?+−
Are there income limits for the NACA mortgage?+−
Can I use NACA if I already own a home?+−
How long does it take to buy a home with NACA?+−
What does the NACA program cost?+−
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Program details last verified: October 13, 2026