NACA's maximum CLTV amounts can exceed 100% for purchases and for rehabs under what condition?

The maximum Combined Loan to Value (CLTV) amounts for purchases and rehabilitation loans can indeed exceed 100% primarily when funds are provided to cover necessary expenses like down payments, closing costs, and repairs. This condition is crucial for making homeownership accessible, especially for eligible borrowers who may not have sufficient cash reserves for these upfront costs.

In this context, exceeding the standard 100% CLTV allows borrowers to finance not only the purchase price of the home but also critical additional costs that support the home's value and livability. This flexibility is fundamental to NACA’s mission of promoting homeownership among low-to-moderate income individuals and families.

The other options do not reflect the conditions under which CLTV can exceed 100%. Private sector funding and public sector funding have specific guidelines but do not inherently allow for exceeding the CLTV threshold without additional context directly related to covering essential costs. Thus, the correct choice focuses on the practical needs of borrowers who require comprehensive financial support.