Free homebuyer education event in Mesquite Oct. 23-25 offers buyers path to mortgages with no down payment.
Elevated mortgage rates, high home prices, and rising insurance costs have made homeownership feel increasingly out of reach for some would-be buyers. A free event in Mesquite this weekend aims to help prospective buyers determine whether they have another path to purchasing a home, including through a mortgage requiring no down payment.
The Neighborhood Assistance Corporation of America, or NACA, is bringing its “Achieve the Dream” homebuying event to Mesquite from Friday, Oct. 23, through Sunday, Oct. 25. The event runs from 8 a.m. to 8 p.m. each day at the Hampton Suite and Convention Center, 1700 Rodeo Drive.
Attendees can meet one-on-one with housing counselors and determine whether they qualify for what the nonprofit calls its “Best in America Mortgage.”
NACA says the mortgage requires no down payment, no closing costs or mortgage insurance, and offers below-market fixed interest rates. The organization also says it does not consider an applicant’s credit score.
“When you hear that you can get a mortgage with no down payment, no closing costs, no fees at a below-market fixed rate, the lowest fixed rate with no consideration of anyone’s credit score, people say it sounds too good to be true,” NACA founder and CEO Bruce Marks said. “And that’s the right question.”
Participants still must go through NACA’s qualification process. At the event, prospective buyers can attend a homebuyer workshop, input their financial information, meet one-on-one with a NACA counselor, and then meet with an underwriter to determine whether they can be qualified for a NACA mortgage or what additional steps they may need to take.
Marks said skepticism from potential buyers is understandable, especially as consumers confront the rising costs associated with owning a home.
“If you’re not skeptical, then you’re not doing your homework, and you’re going to be taken advantage of,” Marks said. “But what we say to people, and it’s true, everything is negotiable.”
Floyd Woods Jr. purchased his first home through NACA in 2023 and said his journey took about three years. Woods said his experience was not typical and acknowledged there were setbacks along the way. He knows others who completed the program in as little as 75 days.
After researching and receiving preapprovals from other more traditional lenders, Woods said he stayed with NACA because of the financial benefits.
He said the process also required him to develop financial habits that have carried over into homeownership.
“The biggest thing was just creating that financial stability,” Woods said. “And it allowed me to come into the house with a nice little bit of money to purchase furniture, the refrigerator, new appliances, do some slight upgrades that I thought would be to make the home more mine.”
Woods said the process required him to save, make sacrifices and be intentional about his goal of buying a home.
Now a homeowner, he also cautioned other prospective buyers against purchasing a home simply because they are able to qualify for one.
“I wouldn’t rush anybody or encourage somebody to take a deal that does not make 100% sense for them,” Woods said.
The organization expects thousands to attend the weekend counseling event. Participants can register in advance or walk in to speak with housing counselors to determine where they are on the path to eligibility.Prospective buyers must still complete NACA’s qualification process and demonstrate they are financially prepared for homeownership.
The nonprofit’s eligibility rules can also vary based on a buyer’s income and where the buyer plans to purchase a home. Marks said people with higher incomes can still participate but may be required to purchase in a low- to moderate-income area.
The free Achieve the Dream event runs from 8 a.m. to 8 p.m. Friday through Sunday in Mesquite.Attendees can register in advance through NACA’s Achieve the Dream website.
