What is NOT part of NACA's Purchase Program?

The Purchase Program offered by NACA (Neighborhood Assistance Corporation of America) is designed to make homeownership accessible, particularly to low- and moderate-income individuals. Each of its elements serves to reduce the financial barriers associated with buying a home.

Low interest rates are indeed a core feature of NACA's offering, aimed at making homes more affordable for buyers. NACA provides rates that often significantly lower than market rates, which is a key incentive for participants.

Conversely, the aspects of the purchase program that make ownership feasible include not requiring a credit score for qualification, eliminating closing costs, and removing the burden of mortgage insurance. These elements harmonize to create an opportunity for those who may have traditionally faced barriers to secure financing due to credit challenges or upfront costs.

Therefore, since low interest rates are an integral part of the NACA program, it is clear that this financial support mechanism is a central component, thereby highlighting that it is not the correct answer to this question.