NFC Loan Helps First-Time Homebuyer

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Wednesday, August 7, 2019

James (Jack) Porter knew he’d be forced out of his rental situation but just didn’t know when. After his landlady passed, he was flung into an emergency situation and had to move fast. Luckily, he said he had good credit and some money saved. 

“But I couldn’t really take time to shop around,” he said. 

So when his girlfriend’s dad, who works for a local heating and cooling company, heard of someone using NFC, he let Jack know. Jack immediately went online and applied. 

“The process was pretty easy and I received a call or email shortly after submitting an application.” 

With this being his first home-buying experience, he was happy to find a company so willing to work with him. 

“Lynn Barrett was awesome,” he said, “she was positive and responsive the entire time.” 

Since he’d never bought a home before, he’d done some research online to learn more about how it would go and said he wasn’t hesitant at all. 

“Thankfully, NFC’s process worked exactly the way I hoped it would.”

Jack found a home in good condition for being built in 1923. After inspection, they found the home did need a few repairs, including 13 new windows, a new air purifier and humidifier, and radon mitigation. Due to slight water damage in the basement, it would need cleaning. Additionally, he would have to replace galvanized piping and bathroom drains as well as clean gutters and downspouts. 

He was relieved to find out this would be covered by a second loan from NFC, which he qualified for after securing the NFC Advantage loan. 

“That was appealing,” he said.

Even though Jack had been saving for a move, he was glad he didn’t have to spend it all right away. The loan Jack received also helped with closing costs. Being a “forgivable loan”, if he stays in the home for at least 5 years, he will not have to pay that back. 

The entire process from start to finish took about a month and went smoothly. He had been a little concerned about using a traditional bank and not getting focused attention. But working through NFC, he said he felt like, “Each individual person really matters.” He said he doesn’t really have anything to compare this experience to as a first time homebuyer, but had no complaints. “I would definitely refer anyone else to NFC,” Jack said.  

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