NACA Pre-Purchase Practice Exam 2025 – 400 Free Practice Questions to Pass the Exam

A Borrowing Member within NACA is defined as the individuals whose names are listed on the mortgage application. This identification is fundamental because only those officially recorded on the application are eligible to receive NACA's services and benefits related to home purchasing.

It's important to note that being listed signifies their commitment to the mortgage process and their intent to meet the requirements set forth by NACA for obtaining an affordable mortgage. The other options focus on criteria that, while relevant to NACA's processes, do not define who qualifies as a Borrowing Member in the context of the question. Members completing training, paying fees, or holding VIP status pertains to other aspects of NACA's offerings but does not specifically relate to the designation of a Borrowing Member for the purpose of the mortgage application.