Kenneth Baylock
Illinois Worth Clark Realty 700 Commerce Dr suite 500 Oak Brook, IL 60523 773-808-4321

First Time Home Buyer Blog


Naca Review

Good afternoon my I'm K.B The Broker from Serious Home Buyers Program. I'm a licensed realtor here in Chicago and I have Alicia with me today and she, she did, she did the NACA program and she actually got her home through the NACA, She's in a home right now and I just wanted to let her talk about her experience with dealing with NACA because she's somebody that actually went through the program. Go ahead and just explain to them how you found out about what your experience was.


Here is the video of this interview click here


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I found out about Naca through my friend. So that is mostly a road of map program. They don't have like a lot of help, they have a website but it's not like a, you know, there's not like a really advanced website, so it's mostly word of mouth and they'll tell you that when you go through the program. So like I said I found out about it through my friend. I went to one of the information sessions. So the information session was about three to four hours. They was telling you all about the program and from that point I made an appointment and I went to the office and when you go into the office they tell you to bring all types of documents like your bank statement and credit card statements, lease information, they'll give you a list of all the items they want you to bring.


So then from there they start doing your assessment, like a financial assessment to determine your spending habits and to see like, you know, what can you afford? So from there I did that um, question for about six months. So when I first went in there was telling me they wanted me to, um, I guess saving an additional $300 per month because I think my rent at the time it was like $800 and they was telling me like a hospital mortgage payment will be like a thousand dollars, $1,100. So I had to say that additional amount, you know, to prove to them exactly for a mortgage payment or mortgage payment in that range. And once I did that for about five, six months and also they, um, based off what they saying on my, I guess like credit card statement, my bank statement, they was telling me like, oh we see you spend a lot in this area, you should probably stop spending as much and start saving more money.


So, and also they was telling me that you shouldn't, you shouldn't take out money. So basically you need to charge everything or do everything to your debit card because that's trackable, but you do like I'm taking out money or just putting money in your bank account is kind of not traceable and that's laws against that. So they didn't want you to do that. They told him not to do that. So I remember having an issue because I took some money out in London so my sister and I took some money on something else and there was like a young, like an issue. So, um, but besides that, like once I know what to my many like assessments and I finally got to the purchasing phase. So that was probably, like I said, five or six months later. Once I hit that stage, um, I got a broker so I was able to get my own broker or broker or they, they, um, they have health brokers that they, um, I guess that worked with the program so they don't work for Naca, but they worked with um, previous NACA, um, clients.


So I use one there in health brokers who law or estate, not a broker, I'm sorry, a releaser and to um, start the person that they. So once I found a house that I live and everything I, you know, put a beating and everything. So that was like the easy part. But the hard part came when, once I did the inspection inspection was fine. Other inspection, you know, it's for the buyer. I mean, yeah. So the buyer, so to let you know what you're getting into. And when I did the inspection, you know, the guy, he was, um, he pointed out a few things that like, okay, well this might need to be fixed, but I'm just like, no, this is what I see. When I sent that information to Naca, like once I got through the final phase, like about the finalize the contract, that's the thing that held me up the most and that's the one my, um, like my contract or like the deal was almost about to fall through because with Nafta, like they have all these different offices around like in Houston and Atlanta, different places and I had to send this information to I guess Texas or he, you know, Houston, Texas, but they was just putting in code on the um, you know, inspection and not really, I don't believe they really looked at the description, but basically they told me that I couldn't purchase the house unless somebody fix that stuff.


So I couldn't fix it. The bank wasn't going to fix it. And then that's when like everything almost fell through, like are. I felt like my hands were tied besides, I feel like the people in Chicago really wasn't trying to fight for the deal. That's when I got mad and upset. So besides that, I mean, you know, leading up to that, it wasn't bad. It's just when I got to the final phases and the deal almost fell through over some, like it was something that wasn't even major. It was a, um, an electrical fireplace that, you know, the wires needed to be replaced or something like that or because I previous owner cut the wire so it was like little small stuff like that, but they were willing to let deal fall through over some stuff like that and that's what made me so upset with MCA.


So when you were dealing with you deal with them and you were trying to call them and let them know what was going on with the deal, how hard was it to get somebody on the phone? Was it, where were they interacting with you or were they talking to you?


Yeah, it was very hard. So like the people in Chicago, they were interact to um, to an extent. But like the people that I needed to talk to to get the approval, I believe that they were in Texas somewhere. I believe so. But they're also not here in Chicago. So those people. Yeah, they never asked the phone. I wrote letters, I sent a voicemail, I eyesight isn't everything. It was so hard to get the and they never answered the phone and like um, the stuff they eventually get fixed and inspector he came back out, but it was just like a little petty stuff that I felt that a deal was going to go through, you know, fall through the cracks because they never, they weren't even willing to work with me. I felt like, and I feel like the people in Chicago, I mean, I don't know, like maybe their hands was tired also, but I go, didn't seem like they were trying to, you know, like they were really trying to make the deal go through.

Like it was just like, oh, well they said this and that's how we can do. I, I, like I said, I wrote letters. I wish I request, like can we do like an exception? Like I would definitely get this fixed, you know, like I also like some or some properties, some people they're able to, um, like, like I said, they can get stuff fixed after they moved in, moved in, but they haven't helped. They have to have a contract with a contract and saying like, okay, we're going to do this, um, this place I wasn't even trying to call contractors, lot contractors didn't even want to work with them because, you know, I guess that that reputation that they probably, it takes them long to get paid, you know, they have to go through all this red tape and it's not worth the hassle to them. So I don't think map is a bad program. It's just a belief. I just think that they have not enough people and they try to take on too many cases they can't handle remember that

to be telling me something contract is really didn't want to work with them and when they will hear that name and I remember you also telling me something about your real sincere that he will never work with them again. It's talking about the.

Yeah, like, because like I, like I said the deal, the deal was no until the very end and it was like the um, you know, by the seller's realtor, they, they wouldn't give them information. My attorney, I wouldn't get my attorney intimate, it was just like everyone was just stuck and it was like we're just stuck here and the deal's going to fall through for what some stupid stuff that, you know, because nobody wants to address these few things, a few small issue and nobody seemed to like, I don't know, this person who was in that other state if they're already ahead of Naca or what, I don't know, but nobody in Chicago I felt like was trying to um, you know, raised their hand, but the military then he said that that was his first time rapping with Naca and he said he would, he would never work with them again because it's like you're doing all this work just to, you know, like, and could just fall apart.

I mean any deal can fall apart. But this was something like that was minor. Like it wasn't a major issue, like old apartment intellectual and the whole house, you know, don't work in something that was something very minor that on let this whole deal. And like, you know, there were other people was looking at this house. So, you know, I put my bed in person, they gave it to me. So in the process from when I started to the very end, it took about like maybe three months because not to kept extending like the closing date and that's what they were getting upset about it because they was like, you know, we took this off the market, this could have been on the market or we could have sold this to someone else. So that was one of the reasons. So, and I'm like, I said, the contractor, they said that um, you know, they don't get paid timely and it's just a lot of red tape to deal with them.


So I don't know how they work, how they are now. But that was like when, how long, when did I move my house? Four years ago, almost five years ago. So, but like I said before, I don't think Naca is a bad program, but if you're, if I, if I had a chance to do it over again, I probably wouldn't. Um, you know, he learned some stuff from learn some stuff from that guy. I probably wouldn't go through them so because it was just so, so much of a headache to deal with them and that's unfortunate because it is a good program, but like, yeah, it's just they have too many case load and they can't handle it and like also if you don't stay on them because they do have so many case loads, you'll fall by the wayside. Like your, you know, your case will fall by the wayside so if you're waiting on them to like make next step, you'll be waiting.


So you need to like stay assertive and you don't stay on top of them to make sure like you know, you're sending in paperwork and stuff like that and calling them, making sure they received it so I can exempt my friend. She did not. She was going through the program she lives in and she went to a seminar I guess you know, they were supposed to send her an appointment out but they never sent it out. I guess they have so many people. It's like months in advance. Your apartment is like what's in advanced, but they never even sent her home. Now she called them and they was like, oh, well you wouldn't even know assist them. So it's just little small stuff like that that I don't think they're staffed enough to handle, you know, this big arm as many people they try to take gun. So maybe they get funding for the amount of cases they take. I'm not sure. But because these are not for profit too, so you're going to get what you pay for.


But I wouldn't say only like five something that I did get from Naca. I, um, I have, I have um, the credit, but when Naca my credit, my interest rate is like one point three percent versus when I, because I didn't get to the point with them, I was just like forget this, I don't want to deal with them anymore. I tried to get a loan on my own and that interest rate was four percent. So that is one positive thing because I guess they have a relationship with banks so you can get a better interest rate because it's a, like it's a not for profit. And so maybe you get stuff that you paid for with a, you know, a regular, a regular loan. I mean I have a regular long but going on your own, you probably don't have to pay what is not for profit. They don't charge you.


Oh, because I know that you have a nice savings account and I know that your credit score was a pretty decent. That was going to ask you, why didn't you just go to a regular company? Just get a regular one. And why did you even decide to go through and it was because they had a little inches, right?


No, but I didn't even know my interest rate until the very end. So that wasn't the reason I got my friend. She told me about the program and you know, I was just like, oh, okay, let me see what they talking about. That was my initial, my initial interest in them and it was like a first time home buyers. So you know, they're going to teach you the steps that you need to take. Versus I'm a first time home buyers. I don't really know what to do despite like I can't look online, but it's still like, you know, what do you really do? So I would say they did, they did take you. I'm kind of like step by step with it, but it's just like a random process and if you don't stay on them you will fall through the cracks.

So from the beginning, from when you first went to the seminar all the way until you got your keys to your house. About how many months do you think that it's took?


I would say up close to probably close to a year. Full year, maybe like 10 months. But that's because, you know, like I said, they assess your finances and stuff, like your spending habits and your debt to equity ratio and stuff like that. So they accept that and then like they see like where you work and how much you might make and just um, help me try to get into something that you can afford versus something that you probably, you know, you probably bought this 500, $500,000 house. You can't afford that on your, on your salary, so you probably shouldn't, you know, like they, they'd be stressed, like you should look for a house in disarray and they do, you know what I'm talking to you and asked you based off, you know, what you're making and stuff like that. What, what do you think will be comfortable for you that you could still be able to live and pay other bill because you know, once you get in the house you have the mortgage and all the utility, you know, you'd have to.


Everything is on you. So they sit down, they explained that to you, like, you know, you need to make sure you're comfortable, make sure you look for a house in this range or, or when you were looking for how, you know, you need to factor in like the principal interest taxes and what's the other one? Oh, the insurance. They'd like, no, it whatever. Ranging shoes. You need to make sure that you factor in all those items to make sure you can afford. That is their biggest thing is like they want people to get into stuff that they can afford because, you know, in some neighborhoods people getting a house, they can't afford the house, go abandoned neighborhood go down so that there are um, you know, they start to promote healthy neighborhoods and neighborhoods and people afford to live.


So were you irritated like monitoring your spending habits?


Yeah, I, yeah, but I mean, I, I, I get it now because other people, other people that I know who that have bought houses, Aidan said the same thing and they made me go through like a first time home buyers program. I'm very irritated because I'm like, you know, this is my money, like how you gonna tell them what to do with my money. That was very irritating, very irritating. But you know, you have to humble yourself and if you want this, uh, you know, at the end of the day you want this house. Yeah. You have to just be easy. Humbling yourself,


was it certain things you couldn't do, like go shopping or go get your nails done, go on trips. It wasn't things like that to do with telling you not to do or?


No, no, it wasn't. No, it was nothing that they taught me, like I couldn't do. Like for instance, they were saying like, oh, we see you, um, you spend a lot of money on fast food or something like that. That might be some you need to look, look into instead of, you know, they make recommendation, it can force you to do it, but if they tell you, you know, as we look in that your finances, we see you spending a lot of money in this area. So if you want, if they want you to save an additional two or $300 for $100 a month, you're gonna have to cut something. Right? But as something to supplement that money. So basically what they, they, that's how they do it. They'll recommend stuff to you. Like, okay, maybe you shouldn't do this. No, it's saving them money to do that.

Oh, if someone came to you in the actual about a first time home buyer program, would you Recommend NACA?


I would definitely tell them I'm like all the negative, I tell them the good and the negative aspect of it. So for me knowing that I know now, but I didn't have to again, probably not, but I mean, like I said the word, the one thing, the best thing out of the program was like I have, I have a really good interest rate on my mortgage. All the headaches and all that stuff that I'm really not over. And I felt like it was so much of it.

Yeah. Like, you know, like I said, it's a good program. Even if you do the program, you know, and if you don't even go through the whole program, I think that the stuff that they tell you at the beginning, like for our finances and I assess your finances, that's a good learning tool. So I guess you take the good with the bad, but I would definitely if someone is trying to get into home like asap or something like that. No, I wouldn't tell them to do next. Have you have some time if you're not really sure, you know, you still like I don't know what I want. Yeah, I was, yeah, do Naca if you have time to do it, you know, like if you're not pressed for time or he not like I want to buy a home within three months. If that's your thing, don't do Naca Drain. I'm going to close in three months to get your keys from start to finish everyone and everyone is different. But that was, that was my personal opinion.


I know people who were in the program for like maybe two years? Two and a half years.


Yeah. So I guess it just depends. Like they, when they feel like you got a certain, you know, like, okay, they been doing all this and we feel like they're not saving enough money. And um, you know, now we didn't send them to the next stage because even when they told me, um, that I, I was going to the president's Day, I was kinda shocked but not shocked because I'm like, okay, yeah, I'm just doing this. Like in my mind, like yeah, I'm eventually that by how. But then like when you go to the presence of the state, it gets real. Like, oh, I'm really about to buy a house. So that's like, yeah,

I'm happy you was able to get your house. I remember coming out there seeing the house and The whole fireplace situation.




Almost letting the deal fall apart because of that fireplace. And I'm a member. You get nothing getting the fixed. Then finally, go ahead. I remember there was a fireplace and it was something, it was some other things. What else was it?


It was a crack in outside, but the Hoa, they fixed that. Like it was better along the driveway. But you know, I guess like, you know what, the one in time stuff like that concrete cracks, it wasn't like a crack that was crumbling. It was like a little crack did you can see. So they got the Hoa fixed that and yeah, I think that was it.


I just remember you just telling me basically done a lot of the copies of the construction companies and the other realtors they was, when they heard that name or one, he must have dealt with them. They really didn't want to deal with them anymore.



I actually found out about the company throw you. I remember you telling me about them and you just telling me how the day was about ready to fall apart. I remember that time when you called me frantic you was and you said that you needed help. And I was like okay, well let's try and see if we can get it done. And I'm, you know, I'm happy that she was able to make it into the house. But um, yeah I heard a lot of bad things about them. So is there anything else you wanna to say before we wrap up?


No. Like, yeah, like I say, it's the good with the bad so you know, you just got to weigh your options. So.


Okay, well before, um, before I end this video, this is Alicia. I want to thank you for doing this video. It is 11:10 AM here in Chicago on a Thursday night. Very, very hard worker. And I'm going to do this video and um, I just want to let you guys know if you're planning on buying a home, you do have other solutions that you live in Chicago and surrounding suburbs. I'm a licensed realtor. You don't have to go through the whole process. Did you have to go through it and can get you a career? Long companies begin to get you to start looking at homes right away. The whole process about maybe a month, two months Max, as long as their credit is where it needs to be. Probably about a 5:30 5:40. We can get you preapproved. Make sure you got a little couple of dollars saved, maybe about three or $4,000 saved and we can definitely get you one.


So at home. So if you want to wait a year or maybe two years to get her home, definitely go with Mac. A better view. You were to start the process and get them to your home within the next month or two. Give me a call. My cell number is seven, seven, three eight, zero eight, four, three, two, one. My website is www dot s, You can follow us in our facebook group. It's a first time home buyers. You could meet a real tooth like myself, loan officers, inspectors, like all the people that she was talking about. You can read those kind of people in my role. I'm going to put all those links in the description below. So before we wrap up this video, I want to like this video. I want you to subscribe to my page and I want you to share the video and see a facebook page or other social media pages that to go viral. Thanks, Alicia, for coming on our channel today. Me and my services definitely give me a call. The end of this video right here.


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