Hello my name is K.B. the Broker, I work in Chicago & the surrounding suburbs. I am a licensed realtor with Worth Clark Realty. The topic that we're going to talk about today is the differences between NACA and SHBA, that stands for Serious Home Buyers Association, NACA I'm not really sure what that stands for, but we're going to talk about the difference between the two. Which one is best? Which one that I think that you should go with because NACA is a pretty big company and they've been around for a long time but they have had a lot of complaints over the years. I know one person that had an very unpleasant encounter with them and I'm going to tell you a little story about that later. So what you're going to learn today after you finish reading this blog which by the way can be watched at https://www.youtube.com/watch?v=IQwjbcLCAOU , you're going to learn the differences between the two programs and which is the best first time home buyer program.
This is going to be a series of blogs with me talking about the best first time home buyer programs, which is the Serious Home Buyers Program, which is on a scale from 1 to 10 a 20!! it's really the best program that's operates in the city of Chicago and surrounding suburbs. If you're reading this blog and you live in another state, unfortunately we only operate in Illinois, we don't work in other states, if you live anywhere outside of Illinois we cannot help at the present moment but depending on how fast we grow that may change. We can get you done in Illinois. We can't get you done anywhere else. Okay? I want you to follow our Facebook group at https://www.facebook.com/groups/shbasales/?source_id=1404403013020381 it is full of Great real estate professionals like myself there to help with any question you may have and the group caters to new and first time home buyers.
Also follow our Facebook page https://www.facebook.com/Shballc/ if you want to get in contact with us and start working with us directly. So let's just get into it. I got a few things listed here. So you're going to probably see me looking down because I can't remember all of this stuff, but let's go. Okay, so step number 1, when you go to a NACA workshop it's normally four hours long. I went to one, it was held at 46th & King Drive at a church, I went to the workshop because I just wanted to see what they were offering and the workshop started from 9:00am to 1:00pm!!!
So I sat there to maybe around 11:00am and they were talking about how the process works and they had one couple that talked about finally moving into their first home and how happy they were that the process was finally over. There was another woman I believe she was the host and she talked and talked and talked and talked. And that was something that I just don't think a lot of people really have to subject their selves to, 4 hours of non stop chattering is totally unnecessary. Tip: before you could even start with the NACA program you have to go to that workshop and do the time, We don't do that. You can come and sit down with one of our specialists for maybe 30 to 45 minutes, and they're going to explain to you what kind of paperwork that you need & anything else you need to know about getting your new home or income property. You really don't even have to come sit down if you don't want to because this can all be discussed over the phone. If you want to see someone in person, we can absolutely set up a meeting for you, but you don't have to come to a workshop and sit anywhere for 45 minutes.
SHBA also has an App for you youngsters that want to simply upload your documents into your file, Yes we have a App!! So that's the number one thing that separates SHBA from the pack, no the four hour mandatory class & no frustration from sitting four hours listening to someone talking. So the next step is number 2, it's Preapproval time!!
well let's slow down for a second, in order to get you preapproved, we're going to need at least two years of income tax statements, two most recent check stubs or bank statements and two of your most recent W-2's. We may need a few other things, but those are the main things that we're going to need to get the ball rolling.
We also need you to be on your job for at least two years and NACA ask for the same thing, so that's kind of where we're similar because that's the normal protocol when you're getting a loan. But here's the difference between us. Say for instance, you were on your job for three years, but you quit that job and you left and you went to another job, but you only been working on the new job for like maybe a year or a couple of months. We can get you approved for a loan. Serious Home Buyer's Association can definitely get you a loan so that's the difference with us and them.
Number 3. Once you have the meeting and get you preapproved, they're going to start monitoring your spending you're habits. That's one thing that NACA is known for. If you look at any other videos, or blogs, not including ours you will find out very quickly that this is a fact!! Go to their website and find out for yourself don't take our word for it, they will tell you basically the same thing. Here is what they're basically telling you. We're going to monitor your spending habits!! Well K.B. what does that mean? Okay, say for instance you enjoy going to the boat to gamble every once in a while or you got that raise at work and you decided to go on a little shopping spree to add to your clothing and shoe collection, they are going to have a problem with that. They're trying to see how much money you spend, how much your bills are. If you're going to the store, if you're buying shoes, If you're going to get your nails done, guys if you're going to buy a nice shirt for a date or if you want to go and have a night out with the guys and have a couple of drinks, and you spend about $100 at the bar on Friday on payday. NACA will have a problem with that.
They don't like that kind of stuff, so they're really babysitting and monitoring how much you spend. They're basically telling you, well, you can't spend this. You can't spend that. We need you to spend this much. We want to see you spend that. We want to see you save this kind of money by this period of time. That's really what they're doing and I'm not saying that it's a bad thing, but a lot of times people don't want someone else to be standing over their shoulder watching & monitoring what they spend with the money that they make busting their butts on their job. When they're getting up, going to work and they're putting in the hours and they're putting in the time, if they want to go to the bar on the weekend and spend $100 on drinks with their girlfriend or they want to go to a play at the Chicago Theatre or go to a movie at The Icon on Roosevelt with friends that will be looked at as over spending by them.
We don't do that. That's another thing that separates SHBA from them. We're not monitoring how much money you spend at the show. We're not monitoring how much money you spent on the weekend. We don't mind if you go get your hair and your nails done, that's your business. Whatever you do with your money, that's absolutely your business. So that's another major thing that separates our program from theirs. That wraps up number 3.
Number 4. So once you get approved and everything now it's time to start searching for houses and that's basically the same thing that we do. You start going and looking at houses and you pick the house that you want. You will be paired up with a Realtor normally me, I'm the guy and for example you would basically be like, okay, Ken I want to live in Tinley Park I want three bedrooms, two baths, two car garage. I want a fireplace. I don't like carpet and I like hardwood floors. I want a nice front yard & I want a nice backyard, So when my family comes over, you know, they, we can hang out and barbecue & we want to live on a nice quiet street. Also I have a little son, I need to be in a really good school district and I don't want the school to be very far away. I want the grocery store to be very, very close. When you give me a list like that what I'm gonna do is I'm going to create a search for you and I'm going to email it to you and you will probably get about 20 to 30 houses to choose from.
And you just pick the one that you want, you pick the house that you want. We'll go out and look at houses and once you decide on a house you're going to make an offer. That's how that works!! So NACA does that and SHBA does so It's basically the same process on that part.
NACA Horror Story
If you have children now would be a good time to ask them to leave thee room because it's horror story time. So I have a friend, her name is Alicia and she is the person that told me about the NACA program because she went through the program to get her home. She has a beautiful three bedroom home and Midlothian IL and she purchased it a couple of years ago and she told me that the process took her a little bit over a year. I remember when she was going through this process because at this time me and her we're doing a lot of business together.
I remember when she was going through this process, she was basically telling me that, okay, well I got preapproved and everything, but now she was at the part of the process where her spending habits were getting monitored. They wanted to see her save a certain amount of money every month and they didn't want to see her going to the nail shop and spending money or anything that wasn't a mandatory bill. She could only spend money on the bare minimum items of what she really, really needed, like car note and rent and stuff like that. As far as like luxuries, like, oh I'm going to go buy a pair of shoes. Oh, it's summertime. I'm going to go find me a couple of dresses or something like that. She couldn't do that. They had a major problem with her doing that and she told me that she was going to be a little ragedy for awhile because she was trying to get this house through NACA.
After about a year of watching her spending habits NACA finally felt like it was time for her to purchase her home, so she started looking at homes and found the place in Midlothian IL. The inspectors finally showed up to inspect the home after 3 weeks and there was a problem with the fireplace that would potentially kill her deal.
Here's the part where she almost lost her home!!. I know this because I helped her out and saved her home for her. She called me and she was like, Hey, I need somebody to fix his fireplace. I'm about to get ready to lose this deal. NACA is telling me that they're about to get ready to pull the deal. The realtor that she was working with, he wasn't answering the phone. NACA wasn't answering the phone and when they did they would tell her it's nothing that we can do!! Go find another house!! Don't take my word for it, when you watch the other videos of people talking about how when they dealt with NACA they will tell you that a lot of the times it's hard to get them on the phone. It's really hard to get them on the phone because it's kind of a non for profit business and they have very little help and people that don't want to be bothered with your problems.
If you're one of those people that this is my first time buying a house. I got a million and one questions. What's the process? What's going on? Where are we at in the deal? When are we gonna close? If you're a person that's going to be a little bit nervous or you're going to be a little antsy and you need to talk to somebody all the time to find out where you are and what's the next step and how much longer is it gonna be you're gonna have a problem. Because I know she did. She was telling me that the realtor was about to get ready to walk away from her because it took a very long time to even get someone on the phone to ask a simple question. Her realtor basically was telling Alicia that he would never work with that company again because of their lack of professionalism.
This is nothing that I'm making up & I don't want to sound like I'm downing there program, but this is just facts!! So back to the story, So she calls me and says, Hey, I need somebody to come over here and fix this fireplace because they're basically telling me that my deal is about to fall apart because the fireplace wasn't working correctly. NACA was basically telling them like, well, if the fireplaces are working correctly and you can't get the fireplace fixed and the seller is not planning on getting it fixed, you're just not gonna be able to get this deal and you have to just start this process all over again and find a new home. This is a fact. This is nothing that I'm making up. This is a fact.
Alicia almost lost that deal. What she ended up doing is she had access to get in and out of the house. I think she had the lock box code, even though she wasn't supposed to have the lockbox code, but she had access to get in and out of the house. And basically what she did was she basically took somebody that I referred to her, one of the guys that does work on properties and stuff like that. And they basically went over there and they fixed the fireplace. She wasn't supposed to do it, but she wasn't about to lose her deal. She had worked over a year trying to get and they told her not to do it, but she did it anyway.
She called them up and said hey, the fireplaces are fixed!! Miraculously it just came on and it's fixed now let's go ahead and finish the deal and she was able to close. She's still living in that home right now. Beautiful place. One of these videos. I'm probably gonna do a interview with her so you guys can see what she says personally. So you don't think this is just some story I'm making up. This person does exist. I am on the phone with her at least once a week. She did finish the long grueling process and she is living in her home right now, but she almost lost that deal because it's little things like that where they'll hold you up and you can really lose your deal.
So those are the things that differentiate, Serious Home Buyers Association from NACA. We're just a better company. We answer the phones, we don't comb through your finances and we can get you into your dream home. We can usually get a deal closed between 30 to 45 days if we have all your paperwork versus NACA where they take about a good six months or up to a year and in some situations two years to get your deal done.
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