NACA is coming to Fort Washington. Read the fine print first.

What NACA is advertising

These are NACA's claims, in their words, from the event email for the Best in America Mortgage. We haven't independently confirmed today's terms, so treat them as the pitch, not a promise.

• NACA SAYSNo down payment
• NACA SAYSNo closing costs
• NACA SAYSNo fees
• NACA SAYSNo mortgage insurance
• NACA SAYSBelow-market fixed interest rate
• NACA SAYSNo consideration of your credit score

NACA also says its mortgage payment is often lower than your current rent, and that you can qualify for it in one day at the event.

The fine print they don't put in the headline

None of this means the program isn't worth it. It means you should walk in knowing what they'll look at. Most of it comes from NACA's own website.

1. 1

   “No credit score” doesn’t mean no credit check

   NACA doesn't use your score, but it does look at your payment history: the last 24 months, with the most weight on the last 12. NACA calls your rent payment history the most important factor. Medical bills and predatory loans aren't counted against you.

   Source: NACA FAQ: Mortgage Underwriting Criteria
2. 2

   You need steady, provable income

   NACA asks for stable, verifiable employment for at least one year. You can't qualify while unemployed. Your mortgage payment generally can't be more than 33% of your gross income (35% in high-cost areas), and total debt no more than 40% (43% in high-cost areas).

   Source: NACA FAQ: Mortgage Underwriting Criteria
3. 3

   They go through your bank statements

   NACA asks for your last three months of statements for every account (12 months if you're self-employed), and completing a budget is part of qualifying. On NACA's member forum, members are told large or unusual transactions need a signed letter of explanation, and that finances should be as traceable as possible. That's why money moving through Cash App, Zelle or Venmo can slow you down if you can't explain it.

   Source: NACA member forum: Bank Statements
4. 4

   Some things have to be cleared up first

   Liens and judgments must be resolved, and defaulted student loans must be rehabilitated before you qualify. After a Chapter 7 bankruptcy, NACA says to wait 24 months with on-time payments. After a Chapter 13, there's no waiting period once it's discharged.

   Source: NACA FAQ: Mortgage Underwriting Criteria
5. 5

   You may still need some money saved

   No down payment isn't the same as no money. If your new mortgage would be higher than your rent, NACA wants to see 3 to 6 months of savings. NACA also lists costs you cover yourself: earnest money, a home inspection, and prepaid insurance and taxes.

   Source: NACA FAQ: NACA Mortgage Product
6. 6

   “No fees”, but you do become a member

   The mortgage is advertised with no fees. To use it you join NACA, which one independent guide lists at $25 a year, and members are expected to take part in NACA's advocacy campaigns. You also can't own any other property at closing (no one in your household can), and the home must be your primary residence. Confirm the current membership terms with NACA.

   Source: The Mortgage Reports: NACA program guide (independent source, not NACA)
7. 7

   Your rate depends on your income and where you buy

   According to the same guide, buyers at or below their area's median income get NACA's lowest rates. Buyers above it pay a higher rate and have to buy in certain designated neighborhoods. Ask which group you're in before you get attached to a number.

   Source: The Mortgage Reports: NACA program guide (independent source, not NACA)
8. 8

   “Qualify in one day” vs. what NACA’s FAQ says

   The event email says you can qualify “in just one day.” NACA's own FAQ says members are unlikely to finish qualifying at intake and should expect a follow-up within about 30 days. The independent guide puts the typical qualification process at about three months, and says qualification is good for six months.

   Source: NACA FAQ: Qualification Process

What to bring

NACA says it will help everyone, even people without the documents, but it may take longer. The more you bring, the further you'll get that day.

• Proof of income, recent pay stubs
• W-2s from the last two years
• Tax returns from the last two years
• Bank statements, last three months, every account, 12 months if self-employed
• Explanations for any large or unusual deposits or transfers, including Cash App, Zelle or Venmo money

Tip: screenshot this list, or print this page.

What happens at the event

NACA describes a four-step process you can go through in one day:

1. 1Attend a Homebuyer's Workshop
2. 2Enter your information and upload the documents you have
3. 3Meet one-on-one with a NACA Counselor
4. 4Meet with a NACA Underwriter to be qualified, or find out your next steps

Plan for a long day. Bring water, a snack, a phone charger, and something to take notes with.

Questions to ask while you're there

These are our suggestions. Write down the answers.

• Am I a priority or non-priority member, and what rate would that mean for me?
• Which neighborhoods or ZIP codes am I allowed to buy in?
• What do I still need to fix or save before I'm fully qualified?
• What exactly are the membership requirements, and what happens if I miss them?
• How long are people typically waiting from qualifying to closing right now?

Sources

• NACA Achieve the Dream events (official)
• NACA FAQ: Mortgage Underwriting Criteria
• NACA FAQ: NACA Mortgage Product
• NACA FAQ: Qualification Process
• NACA member forum: Bank Statements
• The Mortgage Reports: NACA program guide

Last verified Sep 22, 2026. See something out of date? Tell us.