Indy Investor Magazine Jan 2014

January 2014

Find out how you can own a HUD homewith $100 down program

January 2014IndyInvestor Magazine

Ask the Editor:Should buy a home now or pay rent for another year or two.

Page 18

HUDTraining Seminar

with Lisamarie Schmidt

& Michael Kerkhof

January 1711am-3:30pm

Pg9

478125I 1 1/11/12, 1:03:50 PM

2 IndyInvestorMagazine.comIndyInvestorMagazine.com

First Time Home Buyers, Investors

RSVP for Tours at:1-800-276-8940 ext 2 or

[email protected]

Here is your chance to view great deals on HUD Homes and Bank Foreclosures. Meet and talk with professionals such as

lenders, appraisers, inspectors and contractors to learn about the home buying process and how to bid on properties.

HUD Homes & Foreclosures Tour

Get on the Social Bandwagon

with Atlantis RealtyWant to know

about properties coming soon before

they are listed? Follow us on all the local social media.

http://twitter.com/AtlantisRealtyCheck out these listings and our commercial properties on our website at www.AtlantisRealtyGroup.com.

The reason why they are more useful than a standard barcode is that they can store (and digitally present) much more data, including url links, geo coordinates, and text. The other key feature of QR Codes is that instead of requiring a chunky hand-held scanner to scan them, many modern cell phones can scan them.

How does the cell phone read the code?

The cell phone needs a QR code reader, which most of them are free from your app store. It takes literally 1 minute for someone with an iPhone or Android phone to find and install the reader

Lisamarie Schmidt Editor-in-Chief

Amanda Shoaf Chief Creative Editor

Contributors: Mike KerkhofDavid Heller

Lisamarie Schmidt

FOR SUBSCRIPTION & ADVERTISING

Write to Indy Magazine at 8645 E 96th Street, Indianapolis, IN 46256.

To order a back issue: Send U.S. check or money order for $2.00

Visit our website for more information: www.IndyInvestorMagazine.com

Register for an online subscription for FREE or subscribe for a hardcopy delivered 12 issues

for $24.00 online or mail us.

If interested in advertising in our publication call us at 1-888-765-3431 or email to [email protected] for rates.

3IndyInvestorMagazine.com

They look like this: ____________

Sources: Open Mobile Alliance: Tech-faq.com AARON STECKELBERG • U-T

They come to us from Japan where they are very common. QR is short for Quick Response (they can be read quickly by a cell phone). They are used to take a piece of information from a transitory media and put it in to your cell phone. We use QR Codes in our magazine to see the virtual tour or website of a property. Once it is in your cell phone, it will give you details about that property or business.

How QR codes work1. The QR code is scanned by a device, in this case a smart phone.

2. QR code software on the phone analyzes the image and extracts encoded information.

3. The decoded information - such as text, numbers or even website addresses - is displayed on the device.

What are QR codes?

4 IndyInvestorMagazine.com

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$50,000 BLC#212640753 Bedrooms, 1 Baths, 2,745 Sq. Ft.www.tourfactory.com/910247

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7602 Woodside DriveIndianapolis



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&

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6935 Lake Plaza DriveIndianapolis

6 IndyInvestorMagazine.com6 IndyInvestorMagazine.com

With the release of M&M III, there are many changes to HUD’s residential real estate program. For those that have sold HUD before they may notice many changes and for those considering HUD, now is the time to learn. The Successfully Selling HUD Homes class presents the dynamics of M&M III, the new bidding site and bidding periods and ultimately addresses everything from marketing to contract to close. HUD homes are becoming the predominant REO in the market and understanding the NEW process is the key to REO success now and into the future. This class has been developed by PEMCO, Ltd. who is contracted by HUD to manage the sale of all HUD-owned properties. Classes are taught by either a PEMCO Employee or a trained contractor.

January 22nd

Lunch & Learn - HUD Sales Training:“Successfully Selling HUD Homes in Indiana”

In addition to learning general information about HUD, its properties, and the HUD Sales Process, attendees will learn: • Who can buy HUD properties • How to register with HUD • How to navigate the HUD listing site

• How to market, advertise, and show HUD Homes • How to write a HUD Sales contract • How “priority bidding” works • And Much More

We are your team! – Over 20 years of experience in both loans and customer service.

Imagine never having to call your loan officer

to see where you are in the process – NOBODY IS FASTER THEN GVC

Happier clients – More Closings More Referrals

� � � � �

(317)564-4906

Carla Jackson 317-796-3989 Yvette Wright

317-339-9339 www.gvcmortgage-carmel.com

Weekend and Evening Realtor Support!

�

�

�

How Our Process is Different Client applies for financing and will get a pre-approval whether they have a house picked out or not Client “thin” file is submitted to underwriting and is qualified based on credit and income. Final conditions will include satisfactory appraisal and title work. While submitted, appraisal, title, inspections and processing verifications are completed. Buyers and agent are informed of final underwriting conditions. Final conditions are submitted and 24 hours later file is CLEAR TO CLOSE! Final HUD prepared and closing takes place the next day.

7IndyInvestorMagazine.comIndyInvestorMagazine.com


246 S RitterIndianapolis



7957 Castle Lake RoadIndianapolis


9833 E 96th StreetIndianapolis



4258 Larkspur TraceIndianapolis, IN


3209 OceanlineIndianapolis


666 Woodruff Place E DriveIndianapolis



3406 N GalestonIndianapolis, IN



2178 WhiteIndianapolis



Too NewFor Photo

1852 Calvin StreetIndianapolis



www.AtlantisRealtyGroup.com8 IndyInvestorMagazine.com

Learn the in’s and out’s of how to bid & buywith the new HUD process.

“Successfully SellingHUD Homes in Indiana”

Course Information:

With the new introduction of M&M III, there are many changes to HUD’s residential

real estate program. For those that have sold HUD before they may notice many

changes and for those considering HUD, now is the time to learn. The successfully

selling HUD homes class presents the dynamics of M&M III, the new bidding site

and bidding periods and ultimately address everything from marketing to contract

to close. HUD homes are becoming the predominant REO in the market and

understanding the New process is key to REO success now and into the future.

This class has been developed by PEMCO, Ltd, who is contracted by HUD to manage

the sales of all HUD-owned properties. www.HUDPemco.com

Highlights

• Who can buy HUD properties• How to register with HUD• How to navigate the HUD listing site• How to write a HUD sales contract• How “Priority bidding” works• And much More....

Please RSVPby replying to this email or

Contact person:800-276-8940 ext 2

Email:[email protected]

InstructorLisamarie Schmidt

Classes areheld every

month.Call for Dates

and Times.

www.HUDHomestore.com

Atlantis Realty Group Inc8645 E 96th StreetIndianapolis, IN 46256

Phone: 800-276-8940x2Fax: 866-469-4882E-mail: [email protected]

NEW for M&M 3

Hi there! My name is Amanda and I’m a graphic designer serving Indianapolis & surrounding areas. I’ve been doing graphic design for over 7 years and have made everything from business cards, logos, flyers, brochures, T-shirt designs, invitations & postcards as well as this magazine and many of the ads in it.

If you have a design project you need help with, I’d love to help! Design is my passion and I love doing it! My rates are very fair and negotiable to help fit your budget.

Please give me a call today and lets make your design dream a reality!

Amanda Shoaf

GRAPHIC DESIGNER

Serving Indianapolis and surrounding [email protected]

Business Cards * Brochures * CD Case DesignCalendars * Fliers * Logos * T-shirt DesignPhotography * Letterheads * Postcards

Invitations * Digital Photography * More

MY BUSINESS IS TO HELP YOUR BUSINESS SHINE!

CALL765-592-0215

TODAY!

“Design must seduce, shape and most

importantly, evoke an emotional response.”

GRAPHIC DESIGNSERVICES

www.AtlantisRealtyGroup.comIndyInvestorMagazine.com 9

Lisamarie Schmidt

Michael Kerkhof

HUD & 203KContinuing Education

January 17, 2014 • 11am-3:30pmat Moon Dog Tavern

4825 E. 96th Street Indianapolis, IN

Successfully Selling HUD Homes in Indiana

By Lisamarie Schmidt,Atlantis Realty Group, Inc.

From 11am-1pm

Lunch served from 12pm-1pm

Financing HUD HomesBy Michael Kerkhof

From 1:30pm-3:30pm

Receive 4 Hours of CE Credit and Lunch for FREE!Provide your License number for your certificate of completion.For ttendees, please bring your business card as well as your license.

Questions? Please contact:Michael Kerkhof (317) 371-5079

Please RSVP. Seats are limited.

We look forward to seeing you!

Hi there! My name is Amanda and I’m a graphic designer serving Indianapolis & surrounding areas. I’ve been doing graphic design for over 7 years and have made everything from business cards, logos, flyers, brochures, T-shirt designs, invitations & postcards as well as this magazine and many of the ads in it.

If you have a design project you need help with, I’d love to help! Design is my passion and I love doing it! My rates are very fair and negotiable to help fit your budget.

Please give me a call today and lets make your design dream a reality!

Amanda Shoaf

GRAPHIC DESIGNER

Serving Indianapolis and surrounding [email protected]

Business Cards * Brochures * CD Case DesignCalendars * Fliers * Logos * T-shirt DesignPhotography * Letterheads * Postcards

Invitations * Digital Photography * More

MY BUSINESS IS TO HELP YOUR BUSINESS SHINE!

CALL765-592-0215

TODAY!

“Design must seduce, shape and most

importantly, evoke an emotional response.”

Serving Indianapolis and surrounding areas

GRAPHIC DESIGNSERVICES

4321 Barharbor CourtIndianapolis

3 Bedrooms, 3 Baths

BLC# 21242022 $104,500

8888 Pine TreeIndianapolis

3 Bedrooms, 2 Baths

BLC# 21255057 $159,800

10 6801 Lake Plaza Drive, Suite 112A • Indianapolis, IN 46220 • P: 317.578.3827 • F: 317.577.4484 Chris Schlosser 317.523.3037 • [email protected] || www.cmsrealestate.net

407 W 32nd StreetIndianapolis

2 Bedrooms, 1 Baths

BLC# 21260738 $12,497

9046 GreenleeIndianapolis

4 Bedrooms, 2 Baths

BLC# 21259033 $109,500

630 N Colorado AvenueIndianapolis

4 Bedrooms, 2 Baths

BLC# 21250828 $19,600

2832 N Denny StreetIndianapolis

2 Bedrooms, 1 Baths

BLC# 21257027 $35,000

3026 Everbloom WayIndianapolis

3 Bedrooms, 2 Baths

BLC# 21254887 $88,550

9718 E SR 234Wilkinson

4 Bedrooms, 2 Baths

BLC# 21255289 $30,400

8088 Teel WayIndianapolis

3 Bedrooms, 2 Baths

BLC# 21260512 $148,500

4070 Candy Apple Blvd.Indianapolis

3 Bedrooms, 2.5 Baths

BLC# 21259221 $97,500

4536 PaytonIndianapolis

2 Bedrooms, 1 Baths

BLC# 21259889 $38,900

11033 Falls Church DriveIndianapolis


BLC# 21259235 $107,500

11541 Presido DriveIndianapolis

3 Bedrooms, 2 Baths

BLC# 21249203 $94,500

6511 Redland DriveIndianapolis


BLC# 21254887 $89,500

5706 RosslynIndianapolis

2 Bedrooms, 1 Baths

BLC# 21251902 $132,900

2635 Rollins CourtIndianapolis


BLC# 21268480 $130,000

15400 Herriman Blvd.Noblesville

7,0000 Square Feet

BLC# 21251116 $545,000

6104 MadisonIndianapolis

2 Bedrooms, 1,620 SQFT

BLC# 21247797 $199,900

5106 S EmersonIndianapolis

4 Bedrooms, 2 Baths

BLC# 21242134 $169,000

1522 S Talbott StreetMartinsville

3 Bedrooms, 2 Baths

BLC# 21254596 $16,800

9728 Fortune DriveFishers

4 Bedrooms, 3 Baths

BLC# 21261399 $385,000

8447 Ash Grove DriveCamby


BLC# 21263491 $145,000

79 Westridge PlaceGreenwood

3 Bedrooms, 3 Baths

BLC# 21264177 $110,200

10225 Balfer DRiveFortville

3 Bedrooms, 1 Baths

BLC# 21262092 $97,900

2303 Meadow WayAnderson

3 Bedrooms, 2 Baths

BLC# 21248913 $104,500

7907 Puckett LaneCamby


BLC# 21250796 $109,000

11Chris Schlosser 317.523.3037 • [email protected] || www.cmsrealestate.net

509 Andover RoadAnderson

2 Bedrooms, 1 Baths

BLC# 21267657 $34,900

599 Duane StreetFranklin

2 Bedrooms, 1 Baths

BLC# 21268314 $15,000

3238 Gainesville CourtIndianapolis


BLC# 21267414 $139,000

2257 N Herod CourtIndianapolis


BLC# 21267547 $40,000

239 Legends Creek Way Unit #205

Indianapolis2 Bedrooms, 2 Baths

BLC# 21268307 $55,000

8413 BoleroCamby


BLC# 21266002 $128,500

4309 Standish DriveIndianapolis

3 Bedrooms, 1 Baths

BLC# 21266411 $40,000

3042 RalstonIndianapolis

3 Bedrooms, 1 Baths

BLC# 21263910 $12,899

317 Iowa StreetIndianapolis

3 Bedrooms, 1 Baths

BLC# 21263580 $12,399

3502 N Lasalle StreetIndianapolis

3 Bedrooms, 2 Baths

BLC# 21268166 $14,900

7906 States Bend LaneIndianapolis


BLC# 21262930 $108,000

8018 Harbor Walk PlaceIndianapolis


BLC# 21265119 $75,000

3325 Lincoln RoadIndianapolis


BLC# 21267000 $99,700

609 S 28th StreetElwood

3 Bedrooms, 1 Baths

BLC# 21260672 $900/MONTH

2507 S A StreetElwood

3 Bedrooms, 1 Baths

BLC# 21263405 $725/MONTH

4832 Barlow DriveIndianapolis

3 Bedrooms, 1 Baths

BLC# 2125238 $850/MONTH

5224 W Bertha StreetIndianapolis

3 Bedrooms, 1 Baths

BLC# 21265750 $86,950

180 West StreetWhiteland

3 Bedrooms, 2 Baths

BLC# 21267126 $59,900

759 W Harriman AvenueBargersville

3 Bedrooms, 2 Baths

BLC# 21267966 $114,900

6440 Ladoga RoadNorth Salem

3 Bedrooms, 1 Baths

BLC# 21266168 $94,900

IndyInvestorMagazine.com

Now is the Best Timeto Protect Your Family

with Life InsuranceMonthly Premiums For.....

Free Medical Exam with ApplicationFamily and Children Plans

Apply OnlineDonna Petri

Call: 317-250-8126 or Email: [email protected]

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37 $10.28 $11.16 $14.88 $16.63 38 $10.72 $11.59 $15.75 $17.50 39 $11.16 $12.03 $16.63 $18.38

40 $11.81 $12.69 $17.94 $19.69

41 $12.47 $13.56 $19.25 $21.44

42 $13.34 $14.66 $21.00 $23.63 43 $14.22 $15.75 $22.75 $25.81 44 $15.09 $17.06 $24.50 $28.44 45 $16.19 $18.38 $26.69 $31.06

46 $17.28 $19.47 $28.88 $33.25

47 $18.16 $20.56 $30.63 $35.44

48 $19.25 $21.66 $32.81 $37.63

49 $20.56 $23.19 $35.44 $40.69

50 $21.88 $34.94 $38.06 $44.19

51 $23.41 $27.34 $41.13 $49.00 52 $24.94 $30.41 $44.19 $55.13 53 $26.69 $33.47 $47.69 $61.25 54 $28.66 $36.97 $51.63 $68.25

55 $30.63 $40.91 $55.56 $76.13

56 $32.59 $44.63 $59.50 $83.56

57 $34.78 $48.34 $63.88 $91.00

58 $37.19 $52.28 $68.69 $98.88 59 $39.81 $57.09 $73.94 $108.50 60 $43.09 $63.00 $80.50 $120.31

IndyInvestorMagazine.com12

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IndyInvestorMagazine.com 13

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Too NewFor Photo

HUD has recently changed the way they market their HUD foreclosed homes. They are trying to upgrade their image and they do not want to their foreclosed homes to be lump in with the other “bank foreclosures”.

You still have to place your bid for a HUD foreclosed home on the Internet and you still have to use a Realtor. So, for the homebuyer that part is pretty much the same as before.

But, the most important thing is they are still going to offer the HUD $100 Down Payment Incentive in most parts of the country!

The normal down payment for FHA Home Loans is 3.5% and for conventional loans the down payment is up to 20%. Most people that want to purchase a home really don’t have a lot of money available for a down payment so they are left out of today’s home market. But everyone should be able to come up with hundred dollars for a down payment.

But this is a government program and there are, of course, some strings attached. You have some requirements in order to take advantage of this $100 down payment program.

The $100 Down Payment Program Has the Following Requirements:

1. HUD Foreclosed Homes Only! This FHA $100 Down Payment Loan is for the purchase of HUD foreclosure homes.

2. Have to use FHA financing. You cannot use conventional financing.

3. This program is for Owner-Occupants only, not for Investors. You have to sign a form at closing stating you are going to live in the property and not use it has an investment such as a rental property.

4. You still need to have the earnest money of $1,000 for properties listed above $50,000 and $500 for properties listed for less than $50,000. Earnest money will be returned to you at closing as a credit on the Closing Statement.

5. You can ask HUD to pay for closing costs up to 3% of purchase price.

If you are going to buy a home in the near future, you need to consider HUD Homes with this HUD Homes $100 Down Payment Program. This program is a national program and the perfect HUD foreclosed home could be in your area.

UPDATE ON HUD $100 DOWN PAYMENT!


¡El proceso para comprar una vivienda puede parecer complicado, pero si toma las cosas paso a paso, pronto tendrá en sus manos las llaves para su propia casa!

Nueve pasos para comprar una vivienda

Calcule cúanto puede invertir en una vivienda

Conozca sus derechos

Busque la mejor hipoteca

Aprenda acerca de los programas para compra de vivienda

Busque una vivienda

Haga una oferta

Haga inspeccionar la vivienda

Busque un seguro para propietarios de vivienda

Firme papeles

continued on page 16...

Cómo comprar una ViviendaHow To Purchase a HUD Home


Unlock a Better Way to Sell Your HouseAtlantis Auction Group

Lic AU10900054

1-800-276-8940 Ext 707www.AtlantisAuctionGroup.com

List Your Housefor $75 on ourOnline Auction

Paso 1: Calcule cuánto puede invertir en una vivienda

La cantidad de dinero que usted puede permitirse invertir depende depende de sus ingresos, valoración crediticia, gastos mensuales actuales, la cuota inicial y la tasa de interés. Las calculadoras abajo pueden servirle de ayuda, pero es mejor visitar a un prestamista para averiguar con mayor certeza.

¿Cuánto puede invertir en una vivienda? Comprar vs. Alquilar Como Prepararse Para Comprar Vivienda ¿Necesita ayuda con su cuota inicial o costos de cierre?

Programas de compra de vivienda locales ¡Un asesor de vivienda le puede ayudar a calcular cómo manejar y pagar sus deudas, y empezar a ahorrar para ese pago inicial! Busque un asesor de vivienda cerca a usted

Paso 2: Conozca sus derechos Equidad de Vivienda: Igualdad de Oportunidades para Todos - pamfleto Ley de Procedimientos para Liquidación de Bienes Raíces (RESPA, por sus siglas en inglés) Derechos del prestatario Prestamistas fraudalentos

Paso 3: Busque la mejor hipoteca Ahorre dinero preparándose bien. Hable con varios prestamistas, compare costos y tasas de interés, negocie para obtener una mejor oferta. Considere conseguir aprobación previa para un préstamo.

Cómo buscar la mejor hipoteca: averiguar, comparar, negociar - folleto Deje que la FHA le ayude Evite prácticas de préstamo abusivas

Paso 4: Aprenda sobre los programas de compra de vivienda Programas de compra de vivienda locales Los programas de préstamo FHA le ofrecen una cuota inicial más baja y son una buena opción para los compradores de casa por primera vez.

Deje que la FHA le ayude Programas de compra de vivienda especiales de HUD Programa del Buen Vecino – para policías, maestros, bomberos, y técnicos de emergencia médica Ventas a descuento para evacuados de huracanes Propiedad de vivienda para residentes de vivienda pública Programa de Garantía de Préstamos Hipotecarios para Comunidades Indígenas (Sección 184)

continued from page 15...

continued on page 17...



Paso 5: Busque una viviendaEscoja un agente de bienes raícesLista de expectativas - ¿Qué características desea?Listsa de verifi cación de búsqueda de viviendas – lleve esta lista consigo al hacer comparaciones de viviendasViviendas en venta (incluye viviendas de HUD)Viviendas para refaccionar (“Fixer-Upper”) – programas para compra y reparación de viviendas Viviendas pre-fabricadas (casas móviles)Construya una casaSi escoge una vivienda en un vecindario con una Asociación de Propietarios de Vivienda (HOA, por sus siglas en inglés), asegúrese de solicitar una copia del paquete de HOA de modo que usted pueda revisarlo antes del cierre.

Paso 6: Haga una ofertaDiscuta el proceso con su agente de bienes raíces. Si el vendedor le hace una contraoferta, tendrá que negociar hasta que ambos concuerden en los términos de la venta.Hacer una oferta

Paso 7: Haga inspeccionar la viviendaPresente su oferta sujeto a condición de una inspección de la vivienda. Una inspección le indicará la condición en que se encuentra la casa y puede ayudarle a evitar comprar una vivienda que necesita reparaciones mayores.

Para su protección, haga inspeccionar la vivienda10 preguntas para el inspector de vivienda

Paso 8: Busque un seguro para propietarios deviviendaLas agencias crediticias requieren que ustedtenga un seguro hipotecario. Asegúrese debuscar la mejor oferta.Seguro hipotecario12 pasos para reducir el costo de su segurode hipoteca

Paso 9: Firme papelesPor fín está listo para el “cierre”. ¡Asegúrese deleer todo antes de fi rmar!Costos de cierre e información importante

continued from page 16...



Are you upside down on your mortgage?

Atlantis Realty GroupShort Sale Certifi edGet a FREE ConsultationNo Obligation 1-800-276-8940x2

Do you need to sellyour home?No equity? No Problem!

Ask

the

Edi

tor


?????? ???? ??

Lisamarie Schmidt

The decision is different for every prospective home buyer.

Nationwide, statistics show that owning a home costs less than renting. That’s because rents are already high, and they rise with each passing year.

If you continue to rent, you won’t have to spend your savings on a down payment, but you’ll end up paying more for your living quarters in the long run and have nothing to show for it.

It’s also true that home prices will continue to rise, but that’s really not a bad thing. It means that the home you buy now will be worth more in future years.

According to the Case-Shiller & Poor’s index of 20 cities, a survey taken a few months ago showed that home prices had risen 12.8 percent over the previous year. That means people who bought a home for $200,000 would now own a place worth $225,600. All 20 cities posted gains in home values.

Home values continue to go up, probably not as much as 12.8 percent, but even at lower percentages, a home purchased today will be worth a great deal more in years to come.

“Home value appreciation is better when it’s boring,” according to Stan Humphries, a Zillow economist who now says. “It’s good to see the price of home appreciation moderate, allowing the market to get back into a sustainable balance and not topple over.” Cities like Las Vegas had a one-year gain of 29.2 percent last year, followed by San Francisco at 25.4 percent, increases that are not sustainable.

What do I think? If you have the money for a down payment, and a little more to make changes or updates in your new place, as most people do, I think buying a home now is a good move.

You might even be able to get a discount because some buyers are feeling anxiety over how the government is working.

Answer:??

??

??

??

??

??

??

??

??

???

??

???

??

?Question:

??????We’re wondering if we

should buy a home now or payrent for another year or two.

What do you think?


Financing aFixer-Upper?

You just love the house. Except for the leaky pipes. Or maybe the kitchen is too small. For the house that’s almost perfect, we have the perfect solution: Our Renovation Mortgage, a mortgage and home improvement loan all in one.

■ Purchase or refi nance ■ Remodel the kitchen or bath ■ Renovate or add a room ■ Paint the house or add siding

■ Add a porch, deck or patio ■ Replace a leaky roof ■ Put in new fl ooring, carpeting or tiling

■ Update electrical wiring, plumbing or heating systems ■ Conserve energy with new windows

■ Plus much more! This program offers the unique features that make FHA loansexcellent fi nancing solutions in today’s market:

■ Purchase or refi nance ■ 1-4 unit properties (owner-occupied only)

■ FHA down payment (3.5%*) ■ Flexible credit qualifying ■ Assumable loans

*For example, a $200,000 FHA loan with 3.5% down, 5.000% interest rate, 5.616% APR, and 0 points would require monthly payments of $1,074.00 for 30 years. Taxes and insurance are extra. Information is subject to change without notice.Restrictions apply, ask for details.

Loan inquiries and applications in states where I am not licensed will be referred to a Loan Offi cer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifi er #3296) is a Delaware limited liability company licensed by the Department of Corporations under the California Residential Mortgage Lending Act and operates with the following licenses: AK Mortgage Lender/Broker License #AK3296; AZ Mortgage Banker License #BK0903027; To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm; GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC3296; MS Licensed

Mortgage Co.; MT Residential Mortgage Lender Licensee #120; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Licensed by the NH Banking Dept.; Licensed Banker-NJ Dept. of Banking and Insurance #9932414; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker - New York State Department of Banking); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #22122; RI Licensed Lender #20021343LL, Broker #20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law.

Chris MooreRenovation Sales ManagerProspect MortgageNMLS# 418893600 E. Carmel Dr., Ste. 122 & 123, Carmel, IN 46033Offi ce: (317) 847-4738 | Cell: (317) 847-4738Fax: (877) [email protected]

• Learn about home loans• Use loan calculators• Apply for a home loan

HomePath is a registered trademark of Fannie Mae.

Visit My Website!

Purchase and Rehab All in One FHA Loan!


REAL ESTATE INVESTORS • Rehab ~ Fix and FlipLet us fund your next investment property purchase. We provide investors with short term funding for acquisition, rehab projects and renovations of residential foreclosed properties. Our basic criteria for funding consider is listed below:

• Loan to Value Ratio (Purchase)Up to 65%

• Interest Rate Usually 10-16%• ARV Funding Available• Term 6 months; 12 months - 2 years• Amortization Interest Only• Loan Safety Mortgage secured by a

lien against the Property

• Fees 3 - 6% (TBD)• Loan Purpose Single Family / 1-4 Units,

Non Owner Occupied• Loan Preference 1st position (primary)

2nd position (case by case)• Loan Distribution Third Party Escrow /

Service Company• Location Indiana, Marion County (Primary)• Cities Indianapolis & Surrounding Cities;

Central Indiana

For Additional Information: www.dkdglobalfi nancial.comCall 317-809-5177 • Email: td@dkdglobalfi nancial.com


051006

David L. HellerExecutive Vice President of Marketing

8604 Allisonville Road Ste 370Indianapolis, IN 46250

Cell - (317) 402-0779Email – [email protected]

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3716 Watson RoadIndianapolis

Beautiful brick home. The living room is a nice size, and has a fi replace. There is also a spacious dining room. There is a big basement in this home.

BLC# 21268118 $65,000

4805 N Shadeland AvenueIndianapolis

Ideal lot close to neighborhood with easy access to the interstate. Perfect for a gas station/convenience store check out over 200 feet of frontage!

BLC# 21185076 $109,900

Too NewFor Photo

6320 Rucker Road • Indianapolis, IN 46220P: 317-446-0152 • F: 317-466-9752 • www.jsruizrealty.com

Jenni Ruiz || [email protected] Jenni Ruiz || [email protected]

8717 Camby RoadCamby

Come check out this 3 bed 2 bath home. This home has a nice size family room, The maser bedroom has a nice balcony outside of it.

BLC# 21268772 $100,000

709 N Drexel AvenueIndianapolis

Cozy 2BR 1BS home with enclosed front porch. LR & DR have hardwood fl ooring. Full, dry basement may be used for storage. Rear yard has covered patio and detached garage.BLC# 21265761 $27,000

2726 Braxton DriveIndianapolis

3 bed 2 bath home. This home has a nice living room, and the master bedroom is completed with a full bathroom. There is a nice dining area in the kitchen.BLC# 21266792 $65,000

467 W Harriman Avenue BargersvilleThis 3 bed 2.5 bath home is a great opportunity. You will love the brick and vinyl exterior. The high ceilings makes this home feel spacious. The master bedroom has full bath and is on the main fl oor, while the other 2 bedrooms are upstairs. The nice size backyard leaves plenty room for activities.BLC# 21261748 $94,500

258 Concord Way GreenwoodBeautiful 3BR 2.5BA home with a huge LR & DR. The KT has a breakfast area, & a center island. You will fall in love with the fi nish basement which is equipped with an entertainment room. The backyard has a nice screened porch.

BLC# 21268908 $174,900

5070 W 11th StreetIndianapolis

2 bed 1 bath home with plenty of potential. The master bedroom has a nice built in dresser and huge mirror. This home also has a fenced backyard and 2 car garage.BLC# 21265798 $41,000

1804 N IrvingtonIndianapolis

2 bed 1 bath home. Property has nice a hardwood fl oor in the living room with built-in and large bathroom. There is a basement that could be fi nished for additional living space.BLC# 21266926 $38,000

5146 Rinehart StreetIndianapolis

1 bed 1 bath home. this home also has a den. The living room has nice hardwood fl oors. This home is a great steal. Come check it out.

BLC# 21267505 $15,500

4421 Aristocrat CourtIndianapolis

A nice 4 bed 1.5 bath brick and vinyl house. This home has nice kitchen and also a nice size dining room. It has a huge backyard with a shed for extra storage.BLC# 21266959 $30,000

8023 Grand Gulch DriveIndianapolis

Come see this 4 bed 2.5 bath home. This house has a beautiful living room with a fi replace in it. There is a nice dining room connected to the kitchen. There is a loft are located upstairs.BLC# 21268573 $99,900

FEA

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217 Creekway CourtWhiteland

Come check out this 3 bed 2 bath brick and vinyl home. this home has a lovely living room and kitchen. There is a fenced in backyard with a storage for extra storage. This home is a must see.BLC# 21267540 $99,900

11338 High Timber DriveIndianapolis

A beautiful 3 bed 2.1 bathroom 2 level home. this home has a nice kitchen with a center island. There is a nice den and also a loft. The master bedroom has a bonus room. Come take a look at this gorgeous home.BLC# 21268309 $118,000

8151 S Talbott AvenueIndianapolis

Come take a look a this nice 3 bed 2 bath ranch home. You will love the beautiful hardwood fl oors throughout the house. Also you will love the beautiful kitchen. The back yard is huge with plenty space for family functions.BLC# 21261387 $114,900

6517 Apple Branch LaneIndianapolis

Come take a look at this beautiful home. The living room has a plenty of space and has a fi replace. There is a dining area right by the kitchen. there is also a loft upstairs. this home is a must see.BLC# 21268019 $110,000


Bungalow with full basement. This house has some newer vinyl windows and siding. Large yard that is partially fenced. Located near the parkway and creek, close to shopping.BLC# 21263434 $34,000

270 Richie AvenueIndianapolis

2BR 1BA home. The LR has nice hardwood fl oors and a huge window. This home also has a huge laundry room. There is a nice backyard with a shed for extra storage.BLC# 21267647 $36,100


Come check out this 3 bed 2 bath home. This home has a nice size family room, The maser bedroom has a nice balcony outside of it.

BLC# 21268772 $100,000

1020 E Thompson RoadIndianapolis

This all brick ranch is waiting for you. Home has 3 bedrooms with 1.5 baths. Hardwood fl oors throughout. Rear yard is large and private. Come take a look.BLC# 21266925 $47,500

10205 E Dedham DriveIndianapolis

Large condo includes 2BR, LR with slider to fenced yard and patio PLUS full basement. KT is open and overlooks living area with a convenient breakfast bar. BLC# 21261341 $22,500

1526 Gilbert AvenueIndianapolis

A nice 2 bed 1 bath home. This home has a nice den, and also a loft upstairs. The living room and dining room has a fi replace. There is a detached garage located in the big backyard.BLC# 21266936 $45,000

941 W 77th Street N Dr.Indianapolis

A lovely brick ranch with 3BR and 1BA. It has a fi replace, Kitchen features hardwood fl oors & plenty of cabinet space and Spacious bedrooms. Large lot size.BLC# 21252715 $139,900

23

6320 Rucker Road • Indianapolis, IN 46220P: 317-446-0152 • F: 317-466-9752 • www.jsruizrealty.com

Jenni Ruiz || [email protected] Jenni Ruiz || [email protected]

2726 Dr A J BrownIndianapolis

Home has 1BR, 1BA, living room, dining room, kitchen & bonus room. Freshly painted with new carpet. Covered front porch, mini-blinds & scree door. Gas stove hook-up.BLC# 21249542 $29,900

8311 Thorn Bend DriveIndianapolis

Beautiful 2 story home located on Indy’s northwest side. This home has spacious rooms. This home has a nice basement and it is ready for you to come check it out!BLC# 21255569 $184,900

1439 SarazenIndianapolis

Great lot on a cul-de-sac! Perfect to build that custom home for your family. This neighborhood has a nature preserve, walking trails and lake.BLC# 21211617 $29,000

1505 S Reisner StreetIndianapolis

Take a look at this bungalow with over 800 sq ft of living space. With 2 bedrooms and 1 bath. It has enclosed porch & basement. Must see.

BLC# 21259978 $19,900

1057 Timber Creek Drive U# 7Carmel

Mstr BR has full bath & both BR have walk-in closets. Kitchen with breakfast bar. Tons of updates throughout, such as: new appl., new carpet and fl ooring, new furnace & more.BLC# 21212042 $86,500

6441 Rockville RoadIndianapolis

Home has some hardwood fl oors. Living room, 2BR, and a den. There is a sunporch as well. Property sits on a wooded lot. The garage was previously converted into living space.BLC# 21251993 $64,900

FEATU

RED

5913 Buck Rill DriveIndianapolis

4BR 2BA home. This home has a unique fl oor plan, with a nice sized family room on the lower level of the home. There is a dining area located in the kitchen. there is a nice backyard with a deck, and also a shed for extra storage.BLC# 21268031 $90,000

3080 Buckmoor PkwyGreenwood

Large home with king size master suite w/sitting area, master bath has jetted tub w/sep shower. Family room has gas log fi replace, basement w/in law quarters w/full bath. Home also has hardwood fl oors, raised ceilings, built in bookcase. BLC# 21263944 $190,000

7219 Forrester LaneIndianapolis

3 bed 2.5 bathroom brick and vinyl home. The master bedroom has a huge walk in closet. there is a nice dining room area in the kitchen.BLC# 21267878 $94,160

8922 Haverstick RoadIndianapolis

Low maintenance all brick 3 bedroom home. You will love the hardwood fl oors and the cozy fi replace. This home has a walk out basement with an additional bathroom. The property is located on a huge lot. This home is a steal.BLC# 21263740 $140,000

5244 Shelbyville RoadIndianapolis

3BR, 1.5BA ranch. Living room has bay windows. Nice backyard with a detached garage and storage. Mature trees covering front porch. Oversized one car garage.BLC# 21254455 $103,000

1310 Crescent DriveGreenwood

Great ranch in desirable greenwood neighborhood. Partially fenced back yard. Access to 3 fi shing lakes. Low utilities, and a nice home.BLC# 21255202 $59,900

1146 ChurchmanIndianapolis

Large douplex with three bedrooms on each side. Newer roof and vinyl siding. Located near the heart of Fountain Square.

BLC# 21249591 $34,900

Too NewFor Photo

944 S KenwoodIndianapolis

This 1052 square foot townhouse home has 1 bedrooms and 1.0 bathrooms. It is located at 944 S Kenwood Ave Indianapolis, Indiana.

BLC# 21264202 $350/month

Too NewFor Photo


Come check out this 3 bed 2 bath home. This home has a nice size family room, The maser bedroom has a nice balcony outside of it.BLC# 21268772 $100,000

126 N Pratt StreetGreenfi eld

3BR 1BA home. The KT has a nice center island, and the dinning room has beautiful built in cabinets to place your china. This is a very nice home and waiting for a great owner.BLC# 21265998 $49,900

2425 E 39th StreetAnderson

3BR 1.5BA home. You will fall in love with the hardwood fl oors in the bedrooms. The kitchen has built-in appliances. The backyard has plenty of room for family functions.BLC# 21255128 $54,400

306 Franklin StreetEdinburgh

2 bedroom 1 bath home in Edinburgh. Fixer Upper opportunity and potential investment property.

BLC# 21267568 $34,900

4343 Kessler Blvd. N DriveIndianapolis

Come take a look at this 3B 3BA home with lots of potential. You’ll love the beautiful sunroom. The living room also has a nice huge window to give the room plenty of natural sunlight.BLC# 21254618 $137,000

12 Country Wood LaneWhiteland

Come see this 3 bed 2.5 bath home. this home has an attached garage. the master bedroom has a full bathroom in it. There is a nice dining area int he kitchen.BLC# 21267233 $69,900

916 W Chapel Pines DriveIndianapolis

2BR, 2 full BA. Open concept living room, dining room and kitchen - the prefect layout for entertainig. The property has a 2 car attached garage and a screened in back porch.BLC# 21227615 $59,900

2329 Sunset BlvdAnderson

Come check out this 3BR 2BA 2 level home. This home has beautiful hardwood fl oors in it. Also, you will love the fi replace in the MBR. This home has an in-ground pool.BLC# 21264968 $52,000

12317 Titans DriveFishers

Spacious home w/ 3BR, 2.5BA; great room; living room; Master BR w/double sinks, garden tub and separate shower; walk-in closets in every bedroom; two-story entry way.BLC# 21195233 $167,000

Listing and Bidding ProceduresDisclosures

HUD Homes are sold “As Is” without warranty.

Irregularities in bids:

HUD reserves the right to waive any irregularity in any bid, reject any and all offers, and to withdraw a property prior to the bid opening.

Code and Zoning violation:

Brokers should advise Purchasers that the properties may contain code and/or zoning violations. Code and Zoning status must be determined by the Purchaser.

Property Condition:

No guarantees and/or warranties made. No repairs will be performed by HUD after closing. Purchasers are encouraged to have the properties inspected by a qualifi ed home inspection service company to satisfy themselves as to the condition of the property.

Potential Purchasers:

Contact a HUD Approved Broker to obtain a copy of the current listings, to visit listed homes or to make an offer.

HUD pays closing cost up to 3% of the purchase price. If inserted on line 5 of the HUD Sales Contract when the electronic bid is submitted.

HUD’s Homeownership incentives:

$100 Down - Available to owner occupant buyer who purchase a HUD Home with FHA fi nancing, indicate on Line 4, Lender MCAW form, and buyer still responsible for earnest money deposit.

More information on BUYING A HUD HOME on the HUD website at:

http://portal.hud.gov/portal/page/portal/HUD/topics/buying_a_home

Listing Codes

IN - Insurable:

All properties listed as “INSURABLE” are eligible for FHA fi nancing. All requests for insurance will be under Section 203(b) of the National Housing Act Program. An interest rate will be charged on the loan and is negotiable between the purchaser and lender. The mortgage may include some mortgage insurance payments.

HUD.GOV/HUDHomesU.S. Department of Housing and Urban Development


IE - Insurable with Escrow Repairs:

Properties listed as “INSURABLE WITH ESCROW REPAIRS” means that certain repairs (not to exceed $5,000.00) are required to meet Minimum Property Standards for an FHA mortgage. These properties can qualify for FHA 203(b) mortgages if the purchaser and lender establish a repair escrow at the closing for the completion of repairs within 50-days of the closing. This is not a gift from HUD. The sales price remains the same and is added to the mortgage. No repairs prior to closing.

UI - Uninsured:

Properties listed as “UNINSURED” means that certain repairs and or improvements are required to be eligible for an FHA 203(k) mortgage. The required repairs on most of these properties exceed $5000.00. Purchasers of these properties have the option to purchase “as-is” with cash or conventional fi nancing. These properties are also eligible for an FHA 203(k) mortgage if the required repairs end or the improvements are completed within 90-days of the closing.

Listing and Bidding

HUD Approved Brokers will show properties, prepare complete contracts and submit bids through internet Electronic Bidding at the HUD Listings website.

New listings are available daily.

During the Exclusive Listing Period, bids may be submitted only by Owner Occupant purchasers, which HUD defi nes as owner-occupant purchasers, qualifi ed nonprofi t organizations and government entities. There will be:

• a fi fteen (15) day Exclusive Listing Period for Owner Occupant purchasers for properties listed insurable and insurable with Escrow Repairs,

• a fi ve (5) day Exclusive Listing Period for Owner Occupant purchasers for properties listed uninsured.

Owner Occupant must occupy the house for one year and can’t participate in a HUD sales for two years after purchase.

Exclusive Listing Period (Owner Occupant Priority).

• For insurable and insurable with Escrow properties, bids shall be opened and reviewed on the Tenth (10th) day of the Exclusive Listing Period. All bids will be treated as having been received simultaneously. If no winning bid is received by the tenth (10th) day, bid shall be opened and reviewed on each day after the tenth (10th) day up to the fi fteenth (15th) day, or until a winning bid is received. If no winning bid is received in that fi fteen (15) day period, the listing shall be extended to all buyers on day 16. See Extended Listing Period below.

Extended Listing Period.

At the conclusion of the Exclusive Listing Period, should a property remain unsold, all general public bids (including investors) may be submitted daily.

Submitted a Bid Over the “As Is” Value

The “As-Is” value is equal to the appraisal value. You can’t get a second appraisal when using FHA. You will be notifi ed if you overbid and will require submission of proof of funds. Buyers must bring cash for the overbid amount.


Bid Opening, Review and ResultsIn order to be valid for bid opening on a specific day, bids must be completed and confirmed on the Internet no later than 11:59 p.m. on the previous day. Bids can be submitted 24/7 but are not reviewed Holidays or weekends.

Bids received on the same day shall be considered to have been received simultaneously. Friday, Saturday and Sunday bids will be considered to have been received simultaneously and will be reviewed simultaneously on the following Monday.

Bids will be opened and reviewed each business day.

The highest acceptable net bid to HUD will be selected.

Results will be posted each business day by 1:00 p.m.

If two acceptable bids which are exact same amount are received, the AM Contractor will select the winner by randomized electronic drawing.

REMINDER: Brokers must check the HUD Listings website on a daily basis for available properties and Bid Result Publication. If your bid is selected, Brokers must submit the original written and completed HUD Sales Contract along with the required Addenda to the appropriate AM Contractor office within the next 48 hours of Bid Result Publication otherwise the bid will be considered canceled and the second highest acceptable net bid to HUD will be considered.

NOTE: If you search for a property and it does not show up in the search properties area then that property has an accepted bid at this time.

Required Contract DocumentsHUD SALES CONTRACT and REQUIRED ADDENDA:

• Fillable HUD Sales Contract Form 9548 Revision (1/99)

Attach the following Addenda:

• Lead Paint Addendum, if the property was built prior to 1978. The Lead Based Paint Addendum is property specific and will be posted with the property listing.

• General Addendum to HUD Sales Contract.

• For Your Protection: Get a Home Inspection

• Notice to Purchaser Addendum when the offered amount exceeds the appraised value at the time the offer is submitted.

• Certification of Owner-Occupant, if purchaser is an owner-occupant.

Property Search Results

There are no HUD Homes that match your search criteria.


• Radon Gas and Mold Notice and Release Agreement.

• Forfeiture & Extension Policy (Addendum A, Rev. 6/15/2009)

• Lead-Based Paint Addendum (if applicable)

• Flood Zone Addendum (if applicable)

• Letter from a Financial Institution acknowledging that purchaser has funds available for down payment.

• Mortgage Pre-Qualification Letter from a lending institution, if the purchase is to be mortgaged, stating that an in-house credit check has been performed and the purchaser has been pre-qualified for a mortgage up to a specified mortgage amount. The Pre-Qualification letter must be on lender letterhead, give the name(s) of the people listed on the contract, have the correct loan amount, the type of loan, noted that “the credit has been approved”, signed by the loan office (no digital signatures), and dated within the past thirty days.

• Certification from a Financial Institution, if the purchase is cash, stating that funds are available on the day of closing.

• Certification of Owner-Occupant Status for Cash Purchases: All bids by owner-occupants, who are purchasing properties listed in the owner-occupant category, must include an Owner-Occupant Certification. Sanctions will be immediately imposed upon Brokers, Agents and Investors found to be abusing the system.

Avoid Common Errors!To be acceptable, hard copies must contain no errors and done in BLUE ink.

You can’t use white out or liquid paper on a contractual document.

Do not use a yellow highlighter on the contractual documents. The document will not scan properly for HUD with highligher on it.

Make sure social security numbers are listed on the contract correctly.

The buyers name must match exactly on lines 1, 2 and 13 on the contract.

Down PaymentOwner Occupants Only:

3.5% Minimum Down payment for FHA financed properties.

Maximum mortgage amount 96.5% of the appraised value or sales prices whichever is lower.

Investors:

1 unit: 25% Minimum Down payment, for FHA financed properties;

2 to 4 units: 15% Minimum Down payment, for FHA financed properties.

Earnest Money DepositRequired Earnest Money: Must be in the form of a cashier’s check, money order, or other certified funds. The original Earnest Money check should be submitted with the sales contract after bid acceptance. The Earnest Money deposit will be sent to the Closing Agent after Execution.

• $1,000 for offers greater than $50,000,

• $500 for offers $50,000 or less,

• 50% of the Listing Price for Vacant Lots


Earnest Money Forfeiture and/or ReturnThe following provisions are applicable in all instances except those where HUD is unable or unwilling to close the sale, in which case the entire amount will be returned.

Investor Purchasers:

• UninsuredSales:100% of the deposit will be forfeited to HUD for failure to close, regardless of the reason.

• InsuredSales:

• 50% of the deposit will be forfeited to HUD for failure to close if the purchaser is determined by HUD to be an unacceptable buyer.

• 100% of the deposit will be forfeited to HUD if the sale fails to close for any other reason.

Owner-Occupant Purchasers:

Return 100% of the deposit when:

• There has been a death in the immediate family (purchaser, spouse or children living in the same household).

• There has been a recent serious illness in the immediate family that has resulted in significant medical expenses or substantial loss of income, thus adversely, affecting the purchaser’s financial ability to close the sale.

• There has been a loss of job by one of the primary breadwinners, or a substantial loss of income through no fault of the purchaser.

• For an FHA insured sale, HUD (or a D.E. underwriter) determines that the purchaser is not an acceptable borrower. For an uninsured sale, the purchaser was pre-approved for mortgage financing in an appropriate amount by a recognized lender and, despite good faith efforts, is unable to obtain mortgage financing. “Pre- approved” means a commitment has been obtained from a recognized mortgage lender for mortgage financing in a specified dollar amount sufficient to purchase the property.

• There is other equally good cause, as determined by AM Contractor, in keeping with the spirit and intent of the above policy.

Return 50% of the deposit when:

For an uninsured sale, despite good faith efforts by the purchaser, there is an inability to obtain a mortgage loan from a recognized mortgage lender.

Forfeit 100% if the deposit when:

• No documentation is submitted.

• Documentation fails to provide an acceptable cause for the buyer’s failure to close.

• Documentation is not provided within a reasonable time following contract cancellation.

Vacant Lot Sales:The purchaser is considered to be an investor and instructions pertaining to investors will apply.

Closing Costs (Line 5)HUD pays certain Closing Costs up to 3% of the purchase price, IF inserted on line 5 of the sales contract when the electronic bid is submitted. Enter this numeric figure (not percentage) on line 5.


Closing Time FrameFor DEMCO & OFORI: HOMETELOS: Just exchange 45 to 30 & 30 to 45

All purchasers must close on or before forty-five (45) days of contract acceptance date for normal and cash closings. 203k must close sixty (60) days of contract acceptance.

Closing Extension PolicyALL SALES ARE EXPECTED TO CLOSE WITHIN THE APPLICABLE TIME FRAME IDENTIFIED ON LINE 9 OF THE SALE CONTRACT.

Closing Extension Request: If the closing does not occur on the specified date on line 9 of the HUD Sales Contract 9548, the Broker should contact HUD’s Closing Agent at least two weeks prior to that date to request an extension.

AM Contractors, as HUD’s Representative, may grant an extension of closing time and, if approved, each extension will be for a period of fifteen (15) days:

• Submit the “Request For Extension of Closing Date” (Extension Request form) and all the required supplemental supporting documents to HUD’s Closing Agent prior to the expiration of the sales contract.

• Documentation submitted with the extension request must establish that a closing can reasonably be expected to occur within the extension period.

• The extension request must be accompanied by a cashier’s check, money order or other certified funds in the appropriate amount and made payable to HUD. The fee is based on the Contract Sales Price:

Contract Sales Price Extension Fee

Equal to or less than $25,000.00 $150.00 ($10.00 per day)

$25,000.01 to $50,000.00 $225.00 ($15.00 per day)

$50,000.01 and over $375.00 ($25.00 per day)

• The initial 15-day extension will be provided for owner occupant purchasers, at no cost, if documentation is provided indicating that proper and timely loan application was made, that the delayed closing is not the fault of the purchaser and that mortgage approval is imminent.

• The extension fee will be retained by HUD. In the event that the purchaser closes prior to the end of the extension period, the unused, prorated portion of the extension fee will be credited to the amount due at closing.

• The approval of an extension does not obligate AM Contractor, as HUD’s Representative, to grant future extensions.

Home Inspection (Optional, but highly recommended)

There is a 15 day due diligence period. You must have FSM authorize your home inspection. You have 48 hours to complete home inspection after last utility is turned on and you must turn off utilities after inspection. When you receive written permission (executed sales contract), contact the local utility companies, and coordinate dates between them and your inspection.


Fill out a utility activation request form. The utilities are to be turned on in the purchaser’s name and at purchaser’s expense. The purchaser is responsible for the actual costs to activate, deactivate and when necessary, re-winterize the property. The purchaser must place a refundable $150 deposit, in the form of certified funds or money order. The amount is sufficient to cover these costs. This deposit is required to ensure the property has been re-winterized. It is the buyer’s responsibility and cost to re-winterize. If the property has not been re-winterized at the end of the allowable 72 hr period, this may result in a delay of closing (buyer will also be responsible for any property damage incurred).

FHA Amendatory ClauseThis addendum is not required and will not be executed on HUD sales. HUD homes are exempt from the clause.

Broker Registration and NAIDAs Broker, Nonprofit, or Government Agency, you can make an offer on a HUD Home only if you have a HUD Name Address Identifier (NAID). To apply for a NAID, http://www.hudhomestore.com/hud/NaidRegistration.aspx

So in order to place a bid on a HUD property, you must have an active NAID, You may obtain a NAID by completing the necessary forms and providing all required attachments to the HUD Homeownership Center which has jurisdiction over the state in which you are located. The NAID application package must contain the documents as listed at http://www.hudhomestore.com/hud/NaidRegistration.aspx

If your application package does not contain the required documents, the package will be returned and extend the processing time. The NAID application processing time is a minimum of 2 weeks.

For Selling Brokers: Only Selling Brokers may obtain a NAID. Real Estate Agents must use the NAID of their Selling Broker to submit bids.

First to get a NAID Number Register Here

As an agent, if you have already registered,

login here

As an agent, if you have never registered,

login here

Properties for Purchase Available Not Available


Broker Commission (Line 6a)

HUD will pay up to 6% or a minimum of $2500 commission to be equally split between the Listing and Selling Broker, IF inserted on line 6a, of the new HUD Sales Contract Form 9548 (1/99). Line 6b will populate 3% for the listing broker commission.

Remember: Lines 5 and 6a affect the net to HUD.

Help “WHAT IF I NEED HELP?”

If you need help, you can obtain it: You can go to http://www.HUDHomestore.com

The HUD-9548 Sales Contract

Line1: Type purchaser(s) name and complete property address. Make sure to type in the county.

Line2: Enter name(s) and style in which tile will be taken. Please match the name exactly as on line 1 and the STYLE they are taking title (individual, married, etc.)

Line3: Enter bid amount and amount of the earnest money (which is $500 if $50,000 or under or $1000 if $50,001 and over) and fill in that it will be held by HUD. Please send this in a cashier’s check or money order (NO personal checks) paid to the order of: If it is PEMCO or HOMETELOS it will be the name of title company, If OFORI in the name of the listing broker.

Line4: Make sure the appropriate box is checked for the type of financing your buyer is getting and in compliance with what seller’s offering. If FHA 203(b) repair escrow, then check “said mortgage involves a repair escrow amounting to $__” and fill in amount. Also leave blank or enter TBD (to be determined) the three spaces for down payment, mortgage loan amount and the number of months.

Line5: Enter the amount of financing/closing cost submitted on your bid.

Line6: Enter dollar amount of commission to be paid by seller as submitted on your bid.

Line7: Enter net amount due seller as submitted on your bid.

Line8: Enter buyer type (owner occupant or investor)

Line9: Enter in accordance with AM Contractors instructions for closing dates. On the second blank your purchaser will fill in the blank with the closing agency they will use.

Line10: Enter appropriate back up offer information

Line11: Check the appropriate boxes.

Line12: Purchaser(s) must initial in appropriate space

Line13: Make sure to write in your purchaser’s phone number under the signature line, and have them date the contract: when they sign it. Always have the managing broker sign the contract and the owner/occupant certification in the original blue ink signatures.

If this is an investor bid please make sure that the company name is on Line 1 and 2 of the contract. Also make sure that you include the company paperwork and proof of EIN number from the IRS.

SEE SAMPLE CONTRACT BELOW



HUD Case No.

123-456789

$100,000.00

Current Address

800-555-1212

XYZABC1234

John Doe

Please fill out contract in blue ink!Sales ContractProperty Disposition Program

U.S. Department of Housing and Urban DevelopmentOffice of Housing Financial Housing Commissioner

1,000.00

12-3456789

Names must match Line 1 and state whether single, married and tenancy

don’t forget

123-45-6789

XYZ ABC 1 Home RoadCity, St., 12345

see HUD Notice 2005-12

1. I (We), ________________________________________________________________________ (Purchaser(s)) agree to purchase on the terms set forth herein, the following property, as more particularly described in the deed conveying the property to the Secretary of Housing and Urban Development: 111 Any Street, Any City, County, State and Zip (street number, street name, unit number, if applicable, city, county, state)2. The Secretary of Housing and Urban Development (Seller) agrees to sell the property at the price and terms set forth herein, and to prepare a deed containing a covenant which warrants against the acts of the Seller and all claiming by, through or under him. Title will be take in the following name(s) and style: ______________________________________________________________________________________________3. The agreed purchase price of the property is 3. $ _______________________ Purchaser has paid $ ____________________ as earnest money to be applied on the purchase price, and agrees to pay the balance of the purchase price, plus or minus promotions, at the time of closing, in cash to Seller. The earnest money deposit shall be held by ____________________________________________________ ,4. Purchaser is applying for FHA insured financing [ 203(b) 203(b) repair escrow, 203(k) ] with a cash down payment of $ ________________ due at closing and the balance secured by a mortgage in the amount of $ _______________________ for ________ months (does not include FHA Mortgage Insurance Premium, prepaid expenses or closing costs Seller has agreed to fund into mortgage. ). Said mortgage involves a repair escrow amounting to $ _____________________. Purchaser in paying cash or applying for conventional or other financing non involving FHA.5. Seller will pay reasonable and customary costs, but not more than actual costs, not more than paid by a typical Seller in the area, of obtaining financing and/or closing (excluding broker’s commission) in an amount not to exceed 5. $ _______________________6a. Upon sales closing, Seller agrees to pay to the broker identified below a commission (including selling bonus, if offered by seller) of 6a. $ ______________________6b. If broker identified below is not the broad listing broker, broad listing broker will receive a commission of 6b. $ ______________________7. The net amount due Seller is (Purchase price [ Item 3] less Items 5 and 6) 7. $ _______________________8. Purchaser is: owner-occupant (will occupy this property as primary residence) investor nonprofit organization public housing agency other government agency. Discount at closing: _______________% Discount will reduced by amounts, if any, listed on Line Items 5 and 6.9. Time is of the essence as to closing. The sale shall close no later than __________ days from Seller’s acceptance of contract. Closing shall be held at the office of Seller’s designated closing agent or ________________________________________________________________10. If Seller does not accept this offer, Seller may may not hold such offer as a back-up to accepted offer11. Lead based paint addendum is is not attached; Other addendum is is not attached hereto and made part of this contract.12. Should Purchaser refuse or otherwise fail to perform in accordance with this contract, including the time limitation, Seller may, at Seller’s sole option, retain all or a portion of the deposit as liquidated damages. The Seller reserves the right to apply the earnest money, or any portion thereof, to any sums which may be owed by the Purchaser to the Seller for rent. Purchaser(s) Initials: _________ Seller’s Initials: ________13. This contract is subject to the Conditions of Sale on the reverse hereof, which are incorporated herein and made part of the contract. CertificationofPurchaser: The undersigned certifies that in affixing his/her/its signature to this contract he/she/it understands: (1) all the contents thereof (including the Conditions of Sale) and is in agreement therewith without protest; (2) he/she/it is responsible for satisfying itself as in the full condition of the property; and (3) that Seller will not perform repairs after acceptance of this contract.Purchaser(s) (type or print names & sign) Purchaser(s) Address: John Doe

Purchaser(s) Social Security Number (SSN) or Employer Identification Number (EID) (Include hyphens) Phone No: Date Purchaser(s) Signed Contract

Seller: Secretary of Housing and Urban Development By: (type name & title & sign) Date Contract Accepted by HUD

X

CertificationofBroker:The undersigned certifies that: (1) neither he/she nor anyone authorized to act for him/her has declined to sell the property described herein to or to make it available for inspection or consideration by a prospective purchaser because of his/her race, color, religion, sex, familial status, national origin, or disability; (2) he/she has both provided and explained to the purchaser the notice regarding use of Seller’s closing agent; (3) he/she has explained fully to the purchaser the entire terms of the contract, including Condition B on the reverse hereof; and (4) he/she is in compliance with Seller’s earnest money policy as set forth on HUD forms SAMS-1111, Payee Name and Address, and SAMS-1111-A, Selling Broker Certification which he/she has executed and filed with Seller.Brokers Business Name & Address: (for IRS reporting) (include Zip Code) Broker’s EIN or SSN: (include hyphens) SAMS NAID:

Signature of Broker: Broker’s Phone No:Type of print the name and phone number of sales person:

This section for HUD use only. Broker notified of: Authorizing Signature & Date: Acceptance Back-Up No. ____________ Rejection Return Earnest Money Deposit xPrevious editions are obsolete ref. Handbook 4310.5 form HUD-9548 (1/99)

3% auto populated by HUD

JD

90,000.00

Up to 3%

John Doe

01/01/2011

based on sales price, $500 for < $50k and $1,000 for > $50k, Held By HUD

If property is UI, only box 203k or Conv/Cash can be checked ... for properties listed as IN/IE check the box of the loan you have been approved for

Please pull the LBP Addendum from property details as required.

Managing Broker Signature

PEMCO or HOMETELOS - Title Company, OROI - Listing Agent

45Title Company

Nothing is more satisfying than beautiful new windows -- a joy to look at both inside and out.If windows are on your list of home improvements, you might be surprised at how affordable they really are.Replacements windows come in two main types. If the original framing is sound and square, you can install a glass into the original framing, replacing sashes, side jams and trim. If the original frame is rotted or significantly out of square, a new-construction window must be installed, which can cost 50 percent to 100 percent more than a replacement window. Your new windows could cost from $200 to $700 de-pending on what has to be replaced and what options you take.When selling your home, you’ll recoup a large percent-age of the cost. Some estimates say new windows return about 72 percent of their cost at sale.You will immediately reduce your energy bills, but be sure to seal up a leaky house and insulate it for further savings.

Replacing windows


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Home Buying Done EASY! **No Money Down Programs ** Local Underwriting ** 24 HOUR Pre-Approvals whether you have a house picked out or not!

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Carla Jackson Yvette Wright Loan Officer - NMLS#144299 Director of Marketing/Sales 317.796.3989 Direct 317-339-9339 Direct [email protected] [email protected]

Apex Contracting Services Inc.Property Preservation & Remodeling

Phone: 317-721-3092

[email protected]

Call For a FreeEstimate

Nothing is more satisfying than beautiful new windows -- a joy to look at both inside and out.If windows are on your list of home improvements, you might be surprised at how affordable they really are.Replacements windows come in two main types. If the original framing is sound and square, you can install a glass into the original framing, replacing sashes, side jams and trim. If the original frame is rotted or significantly out of square, a new-construction window must be installed, which can cost 50 percent to 100 percent more than a replacement window. Your new windows could cost from $200 to $700 de-pending on what has to be replaced and what options you take.When selling your home, you’ll recoup a large percent-age of the cost. Some estimates say new windows return about 72 percent of their cost at sale.You will immediately reduce your energy bills, but be sure to seal up a leaky house and insulate it for further savings.

Replacing windows

Why do the most successful real estate professionals love working with HouseMaster®?

Our Inspectors are accurate, not arrogant!HouseMaster inspectors are among the best trained in the industry. In addition to extensive technical training and ongoing support, they are also trained on how to communicate their findings in clear, concise and professional terms. We approach every inspection as a “service” focusing on educating your customers in a courteous and helpful manner. You’ll be impressed with both our knowledge AND demeanor!

Every HouseMaster inspection includes context included on the attached document!HouseMaster is the country’s most experienced name in home inspections. We take great pride in providing your customers with a positive service experience. Each HouseMaster customer is presented with our coveted Inspection Resource Guide®. at the start of the inspection. The guide includes an instructional home repair DVD to help emphasize that the focus of the inspection is on major elements. The DVD also shows customers how to address common maintenance issues on their own. The Guide also includes results of our home inspection survey. The results, which categorize the frequency of common home concerns reported, sorted by the age of the home, helps give buyers a better sense of what conditions found in their report may be considered normal depending on the age of the home.

HouseMaster’s reputation inspires confidence: HouseMaster, founded in 1979 is hands down THE recognized authority on home inspections. You may have seen HouseMaster featured on CNN, HGTV, and Fox Business or on your local news. We have collectively performed over 2 million inspections with overwhelmingly positive feedback. Over 99% of real estate professionals surveyed would recommend HouseMaster to their friends or family! In today’s market, customers and clients need to be confident that the inspector they choose is reputable, knowledgeable, personable and experienced –that’s us!

AGE OF HOME:

0-12 YearsAs you might expect, newer homes generally experience the fewest problems or defects. However, the survey does point to some areas which can be of concern, even in a new or newer home.

AGE OF HOME:

30+ YearsWhile the expression “they don’t build them like they used to” has some truth behind it, older homes generally need more repairs — due to normal wear & tear and aging. It’s interesting to note that in selected categories, the often simpler systems in older homes hold up well.

MAJOR STRUCTURAL CONCERNS

ROOF REPAIR

ELECTRIC SYSTEM

ALUMINUM HOUSEHOLD WIRING

INSULATION

CENTRAL HEATING SYSTEM

CENTRAL COOLING SYSTEM

WATER HEATER

PLUMBING SYSTEM

OLD/MIXED PIPING

FOUNDATIONS

AGE OF HOME:

13-29 YearsHomes in this age range tend to require more repairs than newer ones. In a few categories, homes in this age group actually score worse than older homes. This is generally because systems in these homes are nearing the end of their useful service life, while in the older homes these systems will have been replaced.

9.11% of homes contained major structural concerns

19.33% of homes needed roof repairs

14.15% of the homes required electrical system repairs

<1% of the homes had aluminum household wiring

11.7% had inadequate insulation

15.4% of surveyed homes required Central Heating System repairs

13.67% of homes required repair to the Central Cooling System

1% of homes required water heater repairs

8.96% had problems with the plumbing system

<1% had old or mixed piping

22.64% of homes showed signs of water seepage or drainage concerns




5.54% of the homes had aluminum household wiring




18.34% of homes required water heater repairs


18.34% had old or mixed piping













How does your new home measure up?Feel free to compare your home inspection results to over 2,000 other reports compiled in the HouseMaster Home Defect Survey. To see an interactive version of the survey results, go to housemaster.com/homedefects

“The Mark of Inspector Professionalism”

DVD also shows customers how to address common maintenance issues on their own. The Guide also includes results of our home inspection

of homes contained major structural concerns

of homes needed

of the homes required electrical system repairs

of the homes had aluminum household wiring

had inadequate

of surveyed homes required Central Heating

of homes required repair to the Central Cooling

of homes required water

had problems with

had old or mixed piping

of homes showed signs of water seepage or


49.35% of homes


55.34% of homes on their own. The Guide also includes results of our home inspection survey. The results, which categorize the frequency of common home concerns reported, sorted by the age of the home, helps give buyers a better sense of what conditions found in their report may be considered normal depending on the age of the home.

of the homes required electrical system repairs

of the homes had aluminum household wiring

had inadequate

of surveyed homes required Central Heating

of homes required repair to the Central Cooling

of homes required water

had problems with

had old or mixed piping

of homes showed signs of water seepage or

49.35%needed roof repairs










55.34%needed roof repairs











Consumers hated the twisty CFLs but the new LED offerings are cool enough for Apple Stores.

When the federal government lowered the boom on incandescent light bulbs, it pressured makers of compact fluorescent bulbs (CFLs) to fill the gap, according to USA Today.

So manufacturers tried to fill the gap. But the efficiency standards were high and consumers were unwilling to pay more for lights they didn’t like.

Fluorescents blink slowly on and emit cold light in a bluish color. They also can’t be dimmed with traditional dimmers.

Even though some of these drawbacks have been solved, consumers still snub CFLs.

One alternative is the LED, which has been also slow to gain footing because the price is higher.

CREE, a company based in Raleigh, N.C., now has $10

New LEDs take bold steps into the lighting marketbulbs in many markets. Its products have risen to become

the No. 1- and No. 3-selling light bulbs at Home Depot.

LEDs actually have a feature that outdoes the ordinary lightbulb: They have an extraordinary life expectancy. CREE offers a 10-year guarantee on is bulbs and suggests life spans as long as 22 years are possible under certain conditions.

Philips has released a line of hue connected light LED bulbs. Hue bulbs contain multiple LEDs whose output can be controlled from a smartphone, allowing for millions of possible colors.

Now that is so cool, the lowly lightbulb got a spot in Apple’s retail stores.

“The tech has to be better than what it’s replacing, says Mike Watson, CREE’s vice president of

Corporate Marketing.


[email protected] 317.402.0779 (C) 800.276.8940 ext 713

“Looking to buy a home or an investment property? Call the Heller Team. Let the experience of 20 years in the industry work for you!”

David Heller Associate Broker

Stacy Heller Realtor

Heller TeamRealtors

DAVID HELLERASSOCIATE BROKER

STACY HELLERREALTOR

“Looking to buy a home or an investment property? Call the Heller Team.

Let the experience of 20 years in the industry work for you!”

Consumers hated the twisty CFLs but the new LED offerings are cool enough for Apple Stores.

When the federal government lowered the boom on incandescent light bulbs, it pressured makers of compact fluorescent bulbs (CFLs) to fill the gap, according to USA Today.

So manufacturers tried to fill the gap. But the efficiency standards were high and consumers were unwilling to pay more for lights they didn’t like.

Fluorescents blink slowly on and emit cold light in a bluish color. They also can’t be dimmed with traditional dimmers.

Even though some of these drawbacks have been solved, consumers still snub CFLs.

One alternative is the LED, which has been also slow to gain footing because the price is higher.


Consumers hated the twisty CFLs but the new LED

of compact fluorescent bulbs (CFLs) to fill the

So manufacturers tried to fill the gap. But the efficiency standards were high and consumers were unwilling to pay more for lights they didn’t

Fluorescents blink slowly on and emit cold light in a bluish color. They also can’t be dimmed with

Even though some of these drawbacks have been

One alternative is the LED, which has been also slow


New LEDs take bold steps into the lighting marketbulbs in many markets. Its products have risen to become

the No. 1- and No. 3-selling light bulbs at Home Depot.

LEDs actually have a feature that outdoes the ordinary lightbulb: They have an extraordinary life expectancy. CREE offers a 10-year guarantee on is bulbs and suggests life spans as long as 22 years are possible under certain conditions.

Philips has released a line of hue connected light LED bulbs. Hue bulbs contain multiple LEDs whose output can be controlled from a smartphone, allowing for millions of possible colors.

Now that is so cool, the lowly lightbulb got a spot in Apple’s retail stores.

“The tech has to be better than what it’s replacing, says Mike Watson, CREE’s vice president of

Corporate Marketing.

36 9800WESTPoInTDRIVE,SUITE220•InDIAnAPoLIS•317-842-3400

317-842-3400

4251 N RalstonIndianapolis

Cute 1BR 1BA, 1 car det garage. This is one side of a duplex in a very quite neighborhood of Indy. This is perfect for one or cozy for two. Close to public transportation. $445/mo

4118 N CapitolIndianapolis

This once neglected home has been transformed. It has a completely renovated kitchen and bath, new carpeting and laminate floors throughout the house. $94,900

10403 Bicknell CircleFishers

This home for rent is has 4 beds, 3 baths, approximately 3,108 square feet, and was built in 2001. $1,595/mo

3721 Timothy LaneNew Castle

3BR 2.5BA split level home on huge fenced lot. Beautiful trees on the oversized lot & nice deck. Home also has a family room. Lots of storage and cabinets. $85,000

3968 Richelieu RoadIndianapolis

3BR 1.5BA home has a 2 car attached garage with plenty of storage, a good size kitchen that will fit a table for dining, the brick fireplace in the family room otball games. $725/mo

9856 Scott CourtIndianapolis

Sits on a cul-de-sac, 3 bedroom 1 bath ranch home. Approximately 1,236 square feet. The property has a lot size of 8,875 sqft and was built in 1963. $695/mo

14151 Dickinson Court FishersThis 3BR, 2.5BA has 1,640 square feet, fenced yard, and a screened rear porch. You’ll love the spacious kitchen with center island as well as the family room with the cozy fireplace. $153,000

8949 Ginnylock Drive Indianapolis

This 4BR 3BA home has 1,660 sqft, a finished basement, and a screened porch. There is also a fireplace. Move-in ready w/ many updates. $178,900

2001 S BataviaMuncie

This is cute ranch has 4BR, 2BA, and 1,248 sqf. It has some updated flooring, kitchen cabinets, and counters. There is also a rear deck. $45,000

10747 Mistflower IndianapolisA great home in Lawrence township school district. The home was renovated a few years ago and is ready for a new owner. Come and take a look! $99,000

11950 Bills Avenue FishersHome has nearly 3,000 sqft, 5BR, and 4BA, there is plenty of space for everyone! There is also a large partially finished basement. This one has new paint, new carpet, & more! $255,000

13056 Overview Drive Fishers3BR, more than 2,200 sqft, and a huge finished basement! This home is absolutely beautiful. You’ll love the beautifully maintained grounds, & community pool. $319,000


Recently remodeled with new kt cabinets and windows. The home has a fireplace in the LR and a formal dining. The home has an attached garage & fenced rear yard. $36,700

10328 E Woodhaven Court Indianapolis

Large 4BR, 2.5BA with large lot on a quiet cul-de-sac. The Large back yard has mature trees front & back with a screened in porch. Large updated KT and the attached family room. $89,000

6601 Sparrowood DriveIndianapolis

This 3BR, 2BA ranch is move-in ready! The home has just over 1,300 sqft, brand new paint, carpet, and more! Relax on the rear deck, and let the dog run in the fenced backyard. $94,999

6816 Carters Grove Drive Noblesville

Home has nearly 2,300 SQFT, 3 car garage, and many upgrades. The bedrooms are very spacious and the master has a nice vanity, $279,900

10004 Ridge Drive Indianapolis

Home has 3BR, 2.5BA, and nearly 2,000 SQFT. Recent updates include new carpet, vinyl, garage door, and much more! $199,000

13213 Brooks School Road Fishers

Enjoy the wonderful water views and your 4 acres. With 4BR and 2BA, there is plenty of space. Property also includes a large 2 car detached garage. $123,600

8037 Melbourne Lane AvonCute 3BR 2BA home. Great room has fireplace. Large master suite and master bath with double sinks. Beautiful KT with plenty of room. Nice fenced in yard. $125,000

554-558 Andover Road AndersonDuplex with both sides available for rent. #558 is a cute 3BR 1BA unit with 825 sqft. $500/moThe #554 unit has 2 bedrooms and 1 bath and rents for $450/mo

11009 S CR 300W MuncieThis huge house sits on a country acre and has 3,420sqft. That includes 5BR, 2 bonus rooms, & 2.5BA. There is also an oversized two-car garage to give you tons of extra storage. $88,000

311 Douglas Street JonesboroThis is a cute 2BR 1BA home with hardwood floors and a 1 car detached garage. Over 1000sqft. Needs someone to come in and put their personal touches on this one. $20,800

725 Vine Street ConnersvilleOver 3000sqft, this home has lots to offer any buyer including 3BR, 3.5BA, a sitting room and a front porch just to name a few things! This home sits on over half an acre. $45,500

885 Hacienda Pl GreenwoodThere is absolutely nothing to do on this home --- new tile floor of downstairs, complete new KT, new master BA and second BA, new interior paint, new windows, plus more. $289,700

3400 W Ethel MuncieThis cute 1 story w/ 3BR, a fenced yard, and a large two-car garage! There is also a full basement which could easily be finished and nearly double your living space! $43,000

3901 W Jackson Street Muncie

Over 1500sqft, nice breezeway to sit and enjoy the outdoors. Large lot with mature trees. A fireplace in LR. 3BR, 2BA, garage, basement. $47,500

7210 Larkshall Road Indianapolis

Home has 5BR, 3BA, and more than 2,800 SQFT plus a full finished basement. The home sits on a great lot w/ in-ground pool & patio. $224,900

6816 Carters Grove Drive Noblesville

Home has nearly 2,300 SQFT, 3 car garage, and many upgrades. The bedrooms are very spacious and the master has a nice vanity, $279,900

37WWW.WILMOTHGROUP.COM

1302 N Downey IndianapolisCute 2 bedroom 1bath duplex with a 1 car detached garage and fenced yard. Nice corner lot with mature trees! This property is attached to 5320 E 13th St. $675/mo

4147 Alcove Drive Indianapolis3BR, 2.5BA 2 story w/ fenced rear yard with mini-barn for additional storage. Hardwood floors, new appliances, double vanity sinks in master with walk-in closet. $1,100/mo

2923 Percheron Lane IndianapolisSpacious 3 bedroom, 3 bath condo in Perry Township. Downstairs den, or 4th bedroom. Comes with all appliances. Community is only minutes from U of I. $900/mo

3701 N Emerson IndianapolisCute 2 bedroom 1 bath living in a duplex with living room, kitchen and hardwood floors. There is a 1 garage for a $40.00 m extra fee. First come first serve to rent that out. $550/mo

6150 Old Mill Drive IndianapolisAdorable 3BR, 1BA ranch has nearly 1,100 square feet, and sits on almost a third of an acre. The large backyard is fully fenced, so you can let the dog run! $64,500

10852 Gathering Drive Indianapolis3BR and 2.5BA in this home of almost 2000 sqft. Desirable open concept so that your resident chef can be involved in all the conversation and fun. Needs some landscaping. $117,900

3052 Adams Street Indianapolis3 bedroom 1 bath home ready to move in. Quite neighbor hood just East of Keystone and North of 30th. $599/mo

10920 Tallow Wood Lane IndianapolisDramatic 2 story foyer welcomes you into this stunning open floor plan with a finished basement. Home has huge MBR and bath,gourmet kitchen w/ double oven & all SS appliances. $2,195/mo

1242 E 90th Street IndianapolisThis 3BR ranch has nearly 1,700 square feet, and both the living and family rooms have a fireplace. Your new home sits on more than half an acre and features mature trees and plenty of privacy. The home has been freshly painted. $121,900

7962 Springwater W Drive IndianapolisThis great ranch home has 3BR and2BA. The KT and dining rooms have hardwood floors. There are nearly 1,900 square feet and an awesome sunroom. The large deck overlooks your beautiful backyard. This fantastic home in Lawrence Township is not going to last long! $176,550

5007 Radnor Road IndianapolisThere are 3BR, 2BA, 1,540 square feet, and nearly half an acre. The backyard is fully fenced, and the huge enclosed rear porch is finished and offers even more square footage and a place to entertain friends and family. Cozy up in front of the fireplace on those chilly nights. $74,900

610 Edwards Beech GroveAn extended MBR, added laundry room, updated kitchen, new furnace and much more. Over 1,600 sqft ranch with 3 bedrooms, 2 baths. Spacious new eat in kitchen with center island, formal living room, and large family with stone fireplace & built in bookshelves. $109,700

1505 N Colorado IndianapolisAdorable 3BR 2BA home is in a quite neighborhood of Indianapolis. Plenty of large mature trees, close to Brookside Park, shopping, transportation and plenty of restaurants. $599/mo

4101 Eisenhower Drive Indianapolis

This ranch has 3BR, 2BA, and 1,352 sqFT. You’ll love the KT and updated cabinets! Llarge, private backyard! Call this one home or add rent it out! $39,900

3813 W McCarty Street Indianapolis

There are 3BR and nearly 1,400 sqft. The large backyard is fully fenced and features a nice custom frame for an outdoor KT. $26,750

2008 N Mitthoeffer Road Indianapolis

This Home Has Three Bedrooms, An Updated Kitchen, And Nearly 1,300 Square Feet Of Space. It Sits On 1.5 Acres!! $66,950

9231 E 36th Place IndianapolisSpacious 3BR, 1BA with LR and a bonus area adjacent to kitchen. Large eat-in kitchen with lots of cabinet space. Range and refrigerator included. No Cats. $695/mo

3633 N Tiffany DriveIndianapolis

All brick ranch on corner lot with large fenced yard, screened porch, mini barn and custom playset. Interior has large rooms and abundant closets. $750/mo

5320 E 13th Street IndianapolisCute 2 Bedroom 1 bath duplex with a 1 car detached garage on a nice corner lot. The backyard has a patio and privacy fence. This property is attached to 1302 N Downey Ave. $675/mo

3469 N Illinois Street IndianapolisBright and airy 3 bedroom, 1.5 bath 2 story townhome with large eat-in kitchen and spacious living room. Fresh paint and new carpet! Close to downtown and shopping! $615/mon

4114 Mellis DriveIndianapolis

JUST REDUCED! Ready to move in!! Nice brick ranch 3 bed 1 bath. Well maintained with spacious yard. Move your family in now! $625/mo

1218 N Drexel Avenue IndianapolisHardwood floors and a lovely fireplace are featured in this home of almost 1000 sqft. The main bath has tub and shower and the extra bath in the basement has a shower. $67,500

1500 Woodbine Drive AndersonThis home has 2BR, an attached garage, and 1,549 sqft. The backyard is fully fenced. There is also a large separate family room. This would be a great place to call home! $40,000

6409 N Appollo Drive AlexanriaWhat a deal! This home has two bedrooms, two full baths, and sits on a nice lot. This one does need some love, but his lots of potential, and is priced to move. $12,600

9510 Tower Lane IndianapolisGreat 3 bedroom 2 bath ranch home on dead end street. Enjoy the private fence yard with a large deck for entertaining. Don’t wait on this on it won’t last long at this price. $70,000

3020 N Osceola Lane Indianapolis3 bedroom, 3 full bath tri-level with in-laws quarters added to the rear of the home with its own kitchen, living room and bedroom. $90,000

1837 N Emerson IndianapolisThere’s nothing to do here but collect the rent of $800 per month. 3BR/2BA single family ranch. The current owner has updated almost all major mechanicals. $49,500

9518 Tower Lane IndianapolisLarge 4BR 3BA home with attached garage. Updated KT with newer cabinets. Quiet neighborhood. Great deck off back yard for entertaining in the private fenced back yard. $85,000

Too New For Photo

4213 E Pleasant Run Pkwy. Indianapolis

Solid brick bungalow with 2BR, 1BA, and large partially finished basement. Home has a detached garage and has tons of potential. $53,500

Too New For Photo

1430 N Gladstone IndianapolisThere’s nothing to do here but collect the rent of $825 per month. 2 bed/1 full bath/1 bonus room single family ranch. The current owner has updated almost all major mechanicals. $56,500

4421 Kingsley Drive IndianapolisThere’s nothing to do here but collect the rent of $725 per month. 3 bed/1 full bath/1 bonus room single family ranch. The current owner has updated almost all major mechanicals. $43,000

8202 S 300 MarklevilleThere are 4BR, 2BA, and more than 2,000 sqft. The detached garage provides plenty of space for storage. This home sits on a gorgeous acre plus a backyard pool! $99,000

6464 E State Rd 26 FrankfortPlenty of room to garden or just enjoy the space. This property sits on over 1.5 acres two story 4 bedroom 3 bath. Needs some TLC but at this price it can be a wonderfull family home. $52,800

8554 Hague Road IndianapolisThis townhome features 2BR and a finished basement. There are more than 1,500 sqft. You are only minutes from Castleton, dining, shopping, entertainment, and highways. $67,500

828 Bittersweet AndersonThis great bi-level needs little work and is priced to go! There are nearly 2,000 square feet, three spacious bedrooms, and tons of character. The huge backyard is full fenced! $52,000

4728 N Kitley Avenue IndianapolisGreat 3BR 1.5BA home in Brookhaven. Enjoy quiet evenings in your spacious backyard. This home has a huge Family room with two sided fireplace to cozy up to in the winter. $75,000

2824 Brookside Avenue IndianapolisThis duplex has been completely redone and is ready for some new owners. Both sides have 2BR, 1BA, and over 1,000 sqft. This duplex is in great condition. $44,900

918 N Morgan RushvilleThis home has a ton of space, 4BR, 2BA. The backyard is fenced in and backs up to your two-car detached garage. This home is in good condition. $47,900

731 Carlyle Place IndianapolisThere’s nothing to do here but collect the rent of $690 per month. 2BR/1BA. The current owner has updated almost all major mechanicals and a new roof has been installed. $47,000

4034 N Temple IndianapolisThere’s nothing to do here other than collect the monthly rent of $695. 2bed/1 full bath single family ranch. The current owner has updated almost all major mechanicals. $55,000

12994 Saxony Blvd. FishersRanch home has 3BR 3BA with an open floor plan, attached garage and many custom details from the large great room with a fireplace, hardwood floors & new KT cabinets. $332,000

8148 Foxchase Circle IndianapolisThis 2BR and 2.5BA home has nearly 2,000 sqft. The large private deck provides a great place to relax. Home is conveniently located only minutes from Castleton. $123,900

12473 S SR 3 WestportThis 2BR 1BA home is just outside of Columbus, IN and sits on 2 lots with over 1/2 acre of land. Needs some work and updating perfect for the handyman. $30,000

11968 Cross Country Ct. FishersThis home has 4BR, 2.5BA, and nearly 2,800 sqft! There is also a huge unfinished basement with nearly 1,100 sqft. The KT is very large with beautiful wood floors and center island. $254,000

3206 N Elmhurst Drive Indianapolis3 bedroom, 1.5 bath home on wooded lot with mature trees. $70,000

616 N Woodlark Drive IndianapolisRoomy 3 bedroom, 2 full bath Bi-Level with large backyard. Warren Twp. schools and in the Cumberland town area. $65,000


With the number of short sales and foreclosures on the market, many in need of repair or upgrades, renovation loans may give you the perfect opportunity to own the home you’ve always wanted. Renovation loans allow you to shop for and purchase a home in your desired buying area and in your price range, but that may need a new roof, upgraded bathroom ,new kitchen, windows, etc. Renovation loans can help you get a great deal, and make a good house GREAT!

Unlike many lenders, Prospect offers a full line of renovation mortgages. Here are a few basics to help you understand the difference.

ProspectcustomersbenefittremendouslyfromourinternalDrawDepartment. We are able to disburse initial draws (payments for renovation work) within 12-14 business days from closing. This quick disbursement time allows us to provide funding for work to begin more quickly than other lenders who do not manage the draw process. As a result, you’ll have the peace of mind you need, knowing that our Draw Department is providing world-class service every step of the way.

IamacertifiedRenovationLendingSpecialistandcananswerallyourquestions about this exciting loan program, and work with you to get pre-qualifi ed. Contact me today!

Loan inquiries and applications in states where I am not licensed will be referred to a Loan Offi cer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifi er #3296) is a Delaware limited liability company licensed by the Department of Corporations under the California Residential Mortgage Lending Act and operates with the following licenses: AK Mortgage Lender/Broker License #AK3296; AZ Mortgage Banker License #BK0903027; To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm; GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC3296; MS Licensed

Mortgage Co.; MT Residential Mortgage Lender Licensee #120; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Licensed by the NH Banking Dept.; Licensed Banker-NJ Dept. of Banking and Insurance #9932414; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker - New York State Department of Banking); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #22122; RI Licensed Lender #20021343LL, Broker #20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law.

Chris MooreRenovation Sales ManagerProspect MortgageNMLS# 418893600 E. Carmel Dr., Ste. 122 & 123, Carmel, IN 46033Offi ce: (317) 847-4738 | Cell: (317) 847-4738Fax: (877) [email protected]

• Learn about home loans• Use loan calculators• Apply for a home loan

HomePath is a registered trademark of Fannie Mae.

Loan Type

1-4 Unit Primary Resident

Mortgage Insurance(MI) Required

1 UnitSecond Home

2-4 Unit Investment Properties

1 Unit Investment Property

Minimum DownPayment

Property Type

MaximumRenovationAmounts

AllowableRepairs

Gift Funds

Mortgage Amount

FHA 203k(Consultant)

Making a House Your DreamHome with Renovation Loans!

FHA 203k(Streamline)

Fannie MaeHomestyle®

Fannie Mae Hompath®

(Streamline)Fannie MaeHomepath®

Purchase or refi nance

3.5% 3.5%

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Purchase and renovate most residential properties

No maximum as long as mortgage amounts are

within county guidelines for FHA loans

From structuralchanges to landscaping,

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Up to $35,000

From fl ooring to painting, remodeling kitchen/bath,

appliances and more. No major remodeling structural repairs or

landscaping

From structural changes tolandscaping, new appliances,swimming pools, and more

Up to 35% of the ascompleted value, nomore than $35,000

50% of the ascompleted value,up to $35,000

50% of the ascompleted value

From fl ooring to painting,remodeling kitchen/bath,

appliances and more.

Permitted per HUD guidelines

Based on “as completed” appraisal value or total acquisition (sales price + renovation costs) (lower of the two)

Purchase and renovate most residential properties

Can be used for down payment forowner-occupied, primary residence

20% for 1 - unit primaryand second homes

20% for 2 - 4 unit primaryand 1 - unit investment

Purchase only

Purchase and renovate a Homepath® designated Fannie Mae-owned property

3% for primary residence1 - unit property

15% for 1 - unit property(second home or investment)

25% for 2 - 4 unit primary or investment

Can be used for 3% down payment for owner-occupied, primary residence

Purchase or refi nance

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This next big thing in decor and furniture: brass!Though it’s often called the poor man’s gold, brass is a gold alloy of copper and zinc that’s typically relegated to plumbing and door knockers. But now it has gained a strong following from the country’s leading designers. They are offering chairs with brass arms, barware, chandeliers, lamps, desk accessories and more. Brass is entering the mainstream and is prominently featured in catalogs such as those by Crate and Barrel and Restoration Hardware. While relatively affordable, it speaks to a 21st century desire for luxury, timelessness and artisanship, says The Wall Street Journal’s David Keeps. Designer Jonathan Adler currently offers a 60 pound sculptural peacock table and other pieces. Designer Calvin Klein says, “Brass equals warmth, English clubbiness, Moroccan craft and Italian and midcentury fantasy.” It’s also called an essential component of organic modernism, a look that is rooted in natural materials such as leather, stone and wood. Boomers are embracing the softer and more mottled qualities of brass. It ages gracefully.


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This next big thing in decor and furniture: brass!Though it’s often called the poor man’s gold, brass is a gold alloy of copper and zinc that’s typically relegated to plumbing and door knockers. But now it has gained a strong following from the country’s leading designers. They are offering chairs with brass arms, barware, chandeliers, lamps, desk accessories and more. Brass is entering the mainstream and is prominently featured in catalogs such as those by Crate and Barrel and Restoration Hardware. While relatively affordable, it speaks to a 21st century desire for luxury, timelessness and artisanship, says The Wall Street Journal’s David Keeps. Designer Jonathan Adler currently offers a 60 pound sculptural peacock table and other pieces. Designer Calvin Klein says, “Brass equals warmth, English clubbiness, Moroccan craft and Italian and midcentury fantasy.” It’s also called an essential component of organic modernism, a look that is rooted in natural materials such as leather, stone and wood. Boomers are embracing the softer and more mottled qualities of brass. It ages gracefully.


Lisamarie SchmidtThe Atlantis Realty Group8645 E 96th StreetIndianapolis IN 46256800-276-8940

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The Atlantis Realty Group

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IT’S A JUNGLE OUT THERE203k GUIDE

How do you turn a fixer upper into your dream home?

The Solution – the FHA 203(k) Loan!

The purchase of a house that needs repair is often a catch-22 situation, because the bank won’t lend the money to buy the house until the repairs are complete, and the repairs can’t be done until the house has been purchased.

HUD’s 203(k) program can help you with the purchase or refinance of a property by allowing you to roll-in the costs of repairs and improvements up to 110% of the after improved value of the home with a minimum 3.5% down payment.

We hope you find this 203(k) guide helpful. If you have more questions or would like to speak with a 203(k) specialist about a loan, my contact info is below. Happy House Hunting!

The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. The Section 203(k) program is HUD’s primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities.

Brought to you by:

Michael KerkhofAmeriFirst Home Mortgage

Office 317-254-8800Cell 317-371-5079

[email protected] # 247367

BUILDING THE BRIDGETO HOME OWNERSHIP

NMLS ID 110139 AmeriFirst Home Mortgage 800.466.5626

How do you turn a fixer upper into your dream home?

The Solution – the FHA 203(k) Loan!

The purchase of a house that needs repair is often a catch-22 situation, because the bank won't lend the money to buy the house until the repairs are complete, and the repairs can't be done until the house has been purchased.HUD's 203(k) program can help you with the purchase or refinance of a property by allowing you to roll-in the costs of repairs and improvements up to 110% of the after improved value of the home with a minimum 3.5% down payment.

We hope you find this 203(k) guide helpful. If you have more questions or would like to speak with a 203(k) specialist about a loan, my contact info is below. Happy House Hunting!

Brought to you by:

Lender ID 110139

Michael Kerkhof AmeriFirst Home Mortgage

Office 317-254-8800 Cell 317-371-5079

[email protected] NMLS #247367


203(k) - How Is It Different?

Here’s What You Can Expect:

These are two Different 203(k) Loans Available

Most mortgage financing plans provide only permanent financing. That is, the lender will not usually close the loan unless the condition and value of the property provide adequate loan security. When rehabilitation is involved, this means that a lender typically requires the improvements to be finished before a long-term mortgage is made.

When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work.

Choosing which loan suits you best will depend on the amount of improvement your property needs.

Streamlined: The 203(k) Streamline is an all-in-one loan used for homes that need minor repairs. It allows borrowers to finance the purchase of an existing home and make improvements or upgrades up to $35,000 before move-in. There are no minimum repair costs and the borrower must occupy the property.

Standard: The Standard 203(k) is an all-in-one loan used when homes need major rehabilitation, or when repairs are structural, involves landscaping, or when the renovation costs exceed $35,000. There must be a minimum of $5,000 worth of repairs, and again, the borrower must occupy the property. FHA loan limits are based on property type and location

of the property being financed. A portion of the loan proceeds are used to pay the seller, or, if a refinance, to pay off the existing mortgage, and the remaining funds are placed in an escrow account and released as rehabilitation is completed. You may also roll in up to six months of mortgage payments if the HUD consultant determines you need to be displaced from the home during the repairs.

We will discuss both of these loans in detail but first let’s discuss the 203(k) process from start to finish.

1. Find a Property and Make the Offer - A potential homebuyer locates a fixer-upper and executes a purchase agreement or sales contract after doing a feasibility analysis of the property with their real estate agent.

2. Find a FHA approved Lender and Meet with a 203(k) Specialist - The homebuyer then selects an FHA-approved 203(k) lender and arranges for a detailed proposal from licensed contractors showing the scope of the work to be done, including a detailed cost estimate on each repair or improvement of the project.

3. Appraise the Property - The appraisal is performed to determine the value of the property after renovation. The appraiser will also determine if there are any additional repairs necessary for the property to meet minimum FHA property guidelines. Any health or safety issues would be addressed at this time.

4. Loan is Approved and Closed - The borrower, property and requested improvements are approved and the loan closes for an amount that will cover the purchase or refinance cost of the property, along with the improvement costs. The amount of the loan will also include a contingency reserve of 10% to 20% of the total renovation costs and is used to cover any overages resulting from extra work required to complete the work proposed. At closing, the seller of the property is paid off and the remaining funds are put in an escrow account to pay for the repairs and improvements during the rehabilitation period.


5. Work Begins on the PropertyThe mortgage payments and renovation begin after the loan closes. The borrower can decide to have up to six mortgage payments (PITI) put into the cost of rehabilitation if the property is not going to be occupied during construction, but it cannot exceed the length of time it is estimated to complete the rehab.

6. Disbursements & Payment (Draws) - Escrowed funds are released to the contractor during construction through a series of draw requests for completed work. To ensure completion of the job, 10% of each draw is held back; this money is paid after the lender determines there will be no liens on the property. The borrower will always approve the release of funds to the contractor.

To be eligible, the property must be a one- to four-family dwelling that has been completed for at least one year. In addition to typical home rehabilitation projects, this program can be used to convert a one-family dwelling to a two-, three-, or four-family dwelling. An existing multi-unit dwelling could be decreased to a one- to four-family unit.

A 203(k) mortgage may be originated on a “mixed use” residential property provided:

(1) The property has no greater than 25 percent (for a one story building); 33 percent (for a three story building); and 49 percent (for a two story building) of its floor area used for commercial (storefront) purposes;

(2) The commercial use will not affect the health and safety of the occupants of the residential property; and

(3) The rehabilitation funds will only be used for the residential functions of the dwelling and areas used to access the residential part of the property.

A 203(k) mortgage may be originated on a condominium provided:

(1) The condominium project has been approved by FHA

This program can be used to accomplish rehabilitation and/or improvement of an existing one-to-four unit dwelling in one of three ways:

(1) To purchase a home and rehabilitate it.

(2) To purchase a dwelling on another site, move it onto a new foundation and rehabilitate it.

(3) To refinance an existing mortgage and rehabilitate the home.

Eligible and Ineligible Improvements for the 203(k) StreamlineEligible Improvements include:203(k) Streamlined loan is intended to facilitate uncomplicated rehabilitation and/or improvements to a home. Eligible improvements include:

• Repair/Replacement of roofs, gutters and downspouts

• Repair/Replacement/upgrade of existing HVAC systems

• Repair/Replacement/upgrade of plumbing and electrical systems

• Repair/Replacement of flooring

• Minor renovation, such as kitchens & baths, which do not involve structural repairs

• Painting, both exterior and interior

Eligible Properties

How the Program Can Be Used

Features of the 203(k) Streamline

(2) Must be owner occupied (no investors)

(3) Rehab is limited only to the interior of the property

(4) The lesser of 5 units in the project or 25% of the total number of units can be undergoing rehabilitation at the same time

(5) The maximum amount of the loan cannot exceed 100% of the after improved value

(6) No more than four condo units per building


Timelines - When the loan closes, the mortgage proceeds will be disbursed to pay off the seller of the existing property and the Rehabilitation Escrow Account will be established. Construction may begin. Depending on the type of improvements the homeowner has up to six (6) months for completion.

Disbursements & Payments (Draws) - No more than two payments may be made to each contractor. The first payment is intended to defray material costs and shall not be more than 50% of the estimated costs of all repairs and improvements. The Lender will allow the first payment at closing to cover for, and not exceed, actual required contractor deposits, building permits, and/or the cost of building materials incurred prior to construction.

Before a final disbursement is made, the borrower must sign a statement acknowledging that the work has been completed in a workmanlike and satisfactory manner. A final inspection is required regardless of the improvement or repair, and must be done at completion before the final disbursement is released. Any leftover funds are applied to principal balance of the loan.

FHA Approved Consultants - All Standard 203(k) loans must use a FHA Approved 203(k) consultant. The HUD consultant will be very helpful as they will assist you in determining the scope of repairs and the budget for the work to be done. Once the project has been determined the HUD consultant will give you a “specification of repairs” plan that will detail the work to be completed and the associated costs. The HUD consultant will also carry out the disbursement and final inspections needed to pay your contractors. Basically they are there to help you through the construction process and verify all work is completed satisfactorily and as stated and that the home meets HUD’s minimum property guidelines when repairs are completed.

Contractor Requirements Borrowers must use contractors to complete rehab unless borrower can provide documented proof that they can perform the work. Example: Borrower is a licensed plumber or electrician, etc.

Timelines & Disbursements for the 203(k) Streamline

Features of the Standard 203(k)

• Weatherization, including storms windows and doors, insulation, weather stripping, etc.

• Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens

• Septic system and/or well repair or replacement

• Accessibility improvements for persons with disabilities

• Lead-based paint stabilization or abatement of lead-based paint hazards

• Repair/replace/add exterior decks, patios, porches

• Basement finishing and renovation with does not involve structural repairs

• Basement waterproofing

• Window and door replacements and exterior wall re-siding

Ineligible Improvements include:• Renovation involving structural changes,

like moving a load-bearing wall, or new construction, like adding rooms

• Landscaping or Fencing

• Work that will not start within 30 days of loan closing or will cause the borrower to be displaced from the home for more than 30 days or renovations that will take more than 6 months to complete

• Luxury items like swimming pools, hot tubs, tennis courts, etc.


Eligible Improvements for the 203(k) StandardHomeowners can use the 203(k) program to finance “desired” repairs or upgrades such items as painting, room additions, decks and other items even if the home does not need any other improvements.

Eligible improvements can range from relatively minor (though exceeding $5,000 in cost) to virtual reconstruction: a home has been demolished or will be razed as part of rehabilitation is eligible, for example, provided that the existing foundation system remains in place.

The types of improvements that borrowers may make using Section 203(k) Standard loan financing include:

• All of the improvements listed in the eligible improvements for a streamlined 203(k)

• Structural alterations and reconstruction, like room additions, repair of termite damage, major remodeling of kitchens and bathrooms, finishing an attic or basement, adding a second story to a home, etc

• Major landscaping and site improvement including correction of grading and drainage problems, tree removal and repair of sidewalks and driveway, if they are a safety hazard to the property.

Timeline - When the loan closes, the mortgage proceeds will be disbursed to pay off the seller of the existing property and the Rehabilitation Escrow Account will be established. Construction may begin. The homeowner has up to six (6) months to complete the work depending on the extent of work to be completed.

Disbursements - As construction progresses, funds are released after the work is inspected by a HUD-approved inspector. A maximum of 5 draws are allowed. Draw amounts may vary and are based on the work performed. Disbursements are made as each phase of the project is completed based on the draw paperwork provided by the

REFINANCE: Based on the lesser of: 1) The existing mortgage balance before rehabilitation, plus the estimated cost of rehabilitation and allowable closing costs or

2) The lesser of the As-Is value plus rehabilitation costs or 110 percent of the After-Improved value multiplied by 97.75%.

PURCHASE: The maximum mortgage amount is based on the lesser of 1) or 2) of the below multiplied by 96.5%.

1) The As-is value or the purchase price of the property before rehabilitation, whichever is less, plus the estimated cost of rehabilitation or

2) 110% of the After-Improved value of the property.

We hope you found this 203(k) guide to be helpful during the home buying process. The following pages contain additional information and resources to help

build a smooth and straight path to your dream home.

Timelines, Disbursements & Inspections for the 203(k) Standard

Maximum Mortgage Amount Calculation

consultant. Inspections are required prior to each disbursement.

A ten (10) percent holdback is required on each disbursement released from the Rehabilitation Escrow Account. The Holdback/Contingency Fee is:

1. Used as an incentive to insure all work is completed and to cover health, safety and unplanned issues that arise during construction.

2. Required on FHA 203(k); recommended on Streamline

3. Required on properties older than 30 years and/or over $7,500 in rehabilitation costs.

4. A minimum of 10% of the cost or rehabilitation and maximum of 20%.

If not used (after all construction is complete) the remaining amount will be applied to pay down the principal balance of the loan. The total of all holdbacks may be released only after a final inspection of the rehabilitation and issuance of the Final Release Notice.


Let Us Know How We Can HelpFor more than 25 years, AmeriFirst Home Mortgage has helped first time home buyers and other clients realize the dream of leaving that rental behind, and owning a house. Whether it’s HomePath, conventional lending, an FHA program, VA loan, Rural Development or a 203k mortgage loan, the team at AmeriFirst is here to find the right mortgage for you. AmeriFirst is licensed in: Michigan, Minnesota, Wisconsin, Indiana, Illinois, Ohio, Kentucky, Tennessee, North Carolina and Florida. There is sure to be an office near you.

We’re easy to find.The website: AmeriFirst.com

Free eBooks for More InformationIf you’d like to learn more about the FHA 203k loan program, or credit information for buying a home, or the mortgage process in general, we offer several free eBooks. You can click one of the pictures below to find the eBook that’s right for you.

Copyright Notice & Legal Notice©2012 The AmeriFirst Home Mortgage Corporate Office

616 W. Centre AvenuePortage, MI 49024

Feel free to share this (FOR FREE) with anyone you want to. All rights reserved. Source of Information: U.S. Department of Housing and Urban Development (www.hud.gov) While attempts have been made to verify information provided in this publication, neither the author nor the publisher assumes any responsibility for errors, omissions, or contradictory information contained in this document. This document is not intended as legal, accounting or investment advice. The reader of this document assumes all responsibility for the use of these materials and information.

We’re on other social media sites as well.

See interviews with our team & other videos.

Read the blog & keep up with the industry.


Free eBooks for More Information If you’d like to learn more about the FHA 203k loan program, or credit information for buying a home, or the mortgage process in general, we offer several free eBooks. You can click one of the pictures below to find the eBook that’s right for you!







Renovation ChecklistDuplicate this page for use as you inspect prospective homes for improvements needed.

Address_______________________________________________ Room/ Problem Renovation Location Area Needed

Potential Home ChecklistHaving a record of what each home offers can make your final decision much easier.Date Seen ____________________Address _____________________________ Price __________Seller __________ Home Age _____ Neighborhood _________Style of home __2-Story __Ranch __Split Level __Traditional __Cape Cod __Condo __Townhouse

Exterior FeaturesLandscaping __Good __Fair __PoorFencing __Good __Fair __Poor __NonexistentPorch __Good __Fair __Poor __NonexistentPaint __Good __Fair __PoorPatio __Good __Fair __Poor __NonexistentDeck __Good __Fair __Poor __NonexistentGarage __1 Car __2 Car __3 Car __Detached __Good __Fair __PoorRoof Condition __Good __Fair __PoorSidewalks __Yes __NoWell-Mainteined Neighborhool __Yes __No

Easy proximity to:__Work __Schools __Shopping __Airport Area __ Industry __Doctor/Dentist__Highways __Churches __Train Station __Public Transportation

Recent Sales in neighborhood:Address____________________________________________ Size ____________ Price_______________Address____________________________________________ Size ____________ Price_______________Address____________________________________________ Size ____________ Price_______________

Interior FeaturesKitchen Size _________________________ Eat-In __Yes __No

Flooring __Ceramic __Vinyl __Wood __Carpet __Good __Fair __Poor Appliances __Good __Fair __Poor __Nonexistent Cabinets __Good __Fair __Poor Windows __Good __Fair __PoorDining Room Size _________________________

Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __NonexistentLiving Room Size _________________________

Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Fireplace __Good __Fair __Poor __NonexistentDen Size _________________________

Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Linen Closet __Good __Fair __Poor __NonexistentTotal Bedrooms _____________Bedroom 1 Size _________________________

Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Closet __Good __Fair __Poor __NonexistentBedroom 2 Size _________________________

Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Closet __Good __Fair __Poor __NonexistentBedroom 2 Size _________________________

Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Closet __Good __Fair __Poor __NonexistentTotal Bathrooms _____________Master Bath Size _________________________

Flooring __Ceramic __Vinyl __Wood __Good __Fair __Poor Fixtures __Good __Fair __Poor Tub __Good __Fair __Poor __NonexistentGuest Bath Size _________________________

Flooring __Ceramic __Vinyl __Wood __Good __Fair __Poor Fixtures __Good __Fair __Poor Tub __Good __Fair __Poor __NonexistentLaundry Room Location _________________________

Washer __Good __Fair __Poor __NonexistentDryer __Good __Fair __Poor __Nonexistent

Good Close Space __Yes __NoBasement __Yes __No __Finished __Carpet __Hardwood __TileUtilitiesType of Heating __Hot Water __Gas __Electric __OilInsulation __Fiberglass __Cellulose __Foam __NonexistentCentral Air __Yes __NoPlumbing Condition __Good __Fair __PoorSump Pump/Drainage System __Yes __NoConnected to Sewer System __Yes __NoAge/capaciy of water heater _____________ Age of heating system _____________Age of electrical wiring _____________

Construction Type __Wood __Brick __Stucco __Vinyl Siding __Aluminum Siding


SERVICESHomeseller’s Pre-Listing InspectionsWant a Competitive edge on the housing market? Understanding the condition of your home is important. Silcox Home Inspections, Inc. can help you sell your home ASAP by giving your buyer con� dence with fewer surprises in a real estate transaction.

Homeseller’s Pre-Closing InspectionsSilcox Home Inspections, Inc. will walk you step-by-step through the home and assess the property from roof to foundation to identify safety issues and current conditions. With your thorough home inspection, we will reduce the likelihood of unfortunate and costly discoveries.

Home Warranty InspectionsMost brand-new home builders provide homeowners with a 12-month Builder’s

Warranty. Ordering an inspection before the warranty expires gives

the homeowner a professionally prepared report to go

over with the builder addressing possible

issues.


1615 Juniper LaneGreenfi eld, IN


1401 Lincoln DriveNoblesville, IN



3706 N hartman DriveIndianapolis



4346 PriscillaIndianapolis


3274 OceanlineIndianapolis


3424 N Maura LaneIndianapolis



1425 Ash CourtMartinsville, IN


1310 CongressIndianapolis

$695/MONTH BLC#212687343 Bedrooms, 1 Baths


6558 Glory Maple LaneIndianapolis


Je� Silcox, Owner

It’s More � an Just an Inspection...

It’s Peace of Mind.Silcox Home Inspections& Construction Management, Inc.

10906 Brigantine DriveIndianapolis, IN 46256

Ph. 317-710-1456 • Fax 317-284-1456Je� [email protected]

www.SilcoxHomeInspections.com

SERVICESHomeseller’s Pre-Listing InspectionsWant a Competitive edge on the housing market? Understanding the condition of your home is important. Silcox Home Inspections, Inc. can help you sell your home ASAP by giving your buyer con� dence with fewer surprises in a real estate transaction.

Homeseller’s Pre-Closing InspectionsSilcox Home Inspections, Inc. will walk you step-by-step through the home and assess the property from roof to foundation to identify safety issues and current conditions. With your thorough home inspection, we will reduce the likelihood of unfortunate and costly discoveries.

Home Warranty InspectionsMost brand-new home builders provide homeowners with a 12-month Builder’s

Warranty. Ordering an inspection before the warranty expires gives

the homeowner a professionally prepared report to go

over with the builder addressing possible

issues.

New Construction Inspections� ese inspections are completed for home owners or construction lenders during the construction process as part of the quality assurance checks.

Termite Inspections &Radon TestingDo not leave any stone unturned when inspecting a home for sale or purchase. Damage from termites and exposure to radon can be costly and stressful. Your peace of mind is worth it!

Silcox Home Inspections, Inc. providesa thorough evaluation of your home inside and out:• Structure and Foundation • Electrical Systems• Plumbing Systems • Roofs and Attics• Water Penetration • Property and Site• Gas Leak Detection• Central Heating and Cooling• Basements and Crawl Spaces• Gutters and Drainage• Walls, Floors, and Ceilings

• Porches and Decks



IndyInvestorMagazine.com

6853 Whisper Oaks Ct.Indianapolis



Feature

$599,900BLC#21032972

Updated Home with solid Bedford Stone construction, lot is .75 acres - An Excellent opportunity for in home business. All New windows in 2009. Newer furnace, a/c, water heater and water softner.

8262 Plumwood LaneIndianapolis



121 E Quincy StreetGarrett, IN

Feature

$277,000BLC#21253436

12 unit apartment building with 5,800 square feet. Apartment has great income and great renters. Apartment is in good condition with no major issues. Has great property management in place for that out of state/town investor. Great investment with good cash fl ow for the price.

10904 E Coffey DriveColumbus, IN


5512 Wood Hollow DriveIndianapolis



4509 E 21st StreetIndianapolis
