Which of the following property types is NOT eligible for a NACA Mortgage?

The correct choice highlights that vacant land is not eligible for a NACA Mortgage. This program is specifically designed to assist individuals in purchasing properties that serve as homes, meaning properties that have dwellings like single-family homes, condominiums, or multi-family properties can be financed. The NACA Mortgage focuses on housing solutions, so it does not extend to financing land that does not come with a pre-existing residential structure. This restriction aligns with NACA’s mission to promote homeownership and support sustainable living, ensuring that funds are utilized for properties that can provide housing.

In contrast, the other types of properties listed, such as condominiums, single-family homes, and multi-family properties, are included in the NACA Mortgage options, making them eligible for financing under the program’s guidelines. This distinction is crucial for applicants to understand when planning their home purchases through the NACA initiative.