What must happen for a NACA Member to retain their mortgage?

To retain their mortgage, a NACA Member is required to occupy the home for as long as they have the mortgage. This is a fundamental aspect of NACA's mission to ensure that homeowners are living in the properties they are financing, promoting stability within communities and preventing speculative investment practices. By occupying the home, members are engaged in homeownership in a way that aligns with NACA's goal of making homeownership accessible and sustainable.

When members live in their homes, they are more likely to maintain the property and contribute to the neighborhood, which benefits both the homeowners and the community at large. This requirement helps NACA maintain its commitment to fostering lasting homeownership and preventing mortgage defaults that could arise from investment properties being left vacant or poorly managed. Other aspects like periodic income verification and annual financial reviews support the management of the mortgage and ensure borrowers remain qualified, but the primary condition for retaining the mortgage, according to NACA guidelines, is the continued occupation of the home.