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Rants & Gems Real Estate Podcast

Rants and Gems #105 The TRUTH About Using A NACA Loan What You SHOULD Know

Rants & Gems Real Estate Podcast

EYL Network

Business, Investing

4.91.3K Ratings

🗓️ 2 August 2023

⏱️ 34 minutes

🧾️ Download transcript

Summary

In this episode Andre Haynes (@renaissance123) comes by the studio to discuss NACA loans with MG & Tukes.



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Transcript

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0:00.0

At TFL, we're making journeys safer for everyone, and that includes improving safety on London's roads.

0:07.4

That's why we and London boroughs are lowering more speed limits to 20 miles per hour,

0:12.3

because 20 miles per hour roads have already reduced collisions resulting in deaths

0:16.6

or serious injuries by 24%. That is how we're making journeys in London safer and brighter for everyone.

0:24.8

Such TFL improvement plan, to the Mayor of London and TFL, every journey matters.

0:30.0

What is Anacolone?

0:32.3

Great basic. Anacolone is a loan funded by Bank of America through neighborhood assistance

0:39.5

corporations of America, which is what Anacol stands for, and Anacolone is a loan that gives you

0:46.6

a loan depending on the property type up to a certain amount of money. Like for units,

0:52.5

you get a certain amount of money maxed through units, you get a maxed through units

0:55.6

down to single family homes or whatever the case may be, but they give you these loans with no

0:59.6

money down, no clothes and cost. The lowest interest rates in the country, in addition to the

1:03.8

lowest interest rates in the country, you have the option to buy a down lower, and they give you

1:07.2

the lowest interest rate in the country regardless of what your credit score is, so they don't

1:12.3

necessarily go off your credit score, they go off your credit profile. You know what I mean? Like,

1:16.0

you know, your rent history, things like that, make sure you don't have any negatives and

1:21.0

collections, you know, that kind of stuff. So it's a really, really great program for people who

1:26.3

are just now getting started, who may have low income, don't have the best creditor, whatever

1:31.6

the case may be, and it's not only for those kind of people, but it works best for those people.

1:36.0

So for first time home buyers, this can be a product they can use.

1:40.9

Oh man, a product they can use, and not just buy a single family home, but a multi-family home

1:45.6

up to four units and even do a mix juice, whereas you can have a storefront and apartments and

...

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