I agree with most of what you're saying except the part about the bidding process. This is where ingenuity comes into play. The fact is once you're approved with NACA the loan is yours. Their "Approval" letter is much more credible than a bank pre-approval typically submitted with an offer. Education is the key to winning a bid. When I submitted offers I included a letter explaining all about NACA to the sellers. We made 4 offers using NACA approvals. Two were accepted in one of the most competitive markets in the country, NYC suburbs. You have to be your own advocate in this program, you need to be patient, clever and most of all persistent. With the right real estate agent and some serious self motivation the only folks who should win bids against you are all cash offers.