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[quote=gent.in.nwdc]You guys would be prime candidates for a loan from NACA, which is a nonprofit housing group that directly makes loans to middle and low middle class buyers. No closing costs, no PMI, and a low rate. They're especially good at helping families such as yourselves into a home. However, the underwriting process is extensive and difficult. Lots of paperwork, training & personal finance sessions, and lots of follow up on your part. If you can contribute 1 or 2% of the home cost ($8K), you can buy down points on the interest rate with NACA (sub 3% fixed rate). Don't borrow against your retirement. That's foolish. I would skip buying a new home and get an older home at a discount. [/quote]
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