Reduced interest mortgage loans available to those with less than good credit

The Neighborhood Assistance Program of America (NACA) has a program designed for home buyers with credit scores that might normally make them ineligible for anything but subprime rates. Here is what they say on their web site:

NACA is the best purchase program in America. NACA provides both comprehensive housing counseling and access to an incredible mortgage product. While NACA provides everyone with mortgage options, NACA also provides one extraordinary mortgage product with everyone receiving the same incredible terms and below market interest rate. NACA has over $13 Billion committed from some the country’s largest lenders on the following terms:

  • No down payment
  • No closing costs
  • No points
  • No fees
  • Evaluation based on individual circumstances without consideration of the credit score
  • Below market 30 year fixed rate mortgage at 4% (as of 9/19/2014)

There are requirements, such as attendance at one of their counseling sessions. You can check them all at their web site.

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