June 12, 2024
GROWING COMMUNITY MEDIA
AT HOME ON THE GREATER WEST SIDE A GCM GUIDE TO HOMEOWNERSHIP
Think you’d never qualify to buy a house? Think again NACA is a solution for people with low credit scores or low but stable income By DELANEY NELSON Special Projects Reporter
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ounded in 1988, the Neighborhood Assistance Corporation of America provides more than 30% of housing counseling throughout the country. The HUD-certified nonprofit serves homebuyers and homeowners in nearly 30 states, including Illinois. NACA provides mortgages to low-to-moderate income
people looking to buy homes in low-to-moderate income communities. Bank of America has committed $15 billion to NACA’s Best in America Mortgage program, which boasts no down payment, no closing costs, no private mortgage insurance and a below-market fixed rate to eligible individuals. Amarilis Wise, who directs NACA’s Chicago office, spoke with Austin Weekly News about the work the organization is doing to promote economic justice and make homeownership accessible to historically marginalized groups.
Why is the NACA mortgage program unique? Wise: Why do we say NACA is the best mortgage in America? NACA is the first housing counseling company in the United States to counsel people to buy a home in the right way. We’re a housing counseling company. The actual lender is the Bank of America — we have an agreement with them until 2026, which says whoever buys a home through NACA, they
See NACA on page B2
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