Indy Investor Magazine Dec 2013 by Lisamarie Schmidt

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December 2013

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HUD Trai ning Sem inar De cemb 11am er 20th -3:30p m Pg9

Ho Lisam sted by: arie Micha Schmidt & el Ker khof

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

First Time Home Get on the Buyers, Investors 478125I 1

Social Bandwagon

with Atlantis Realty Want to know about properties coming soon before they are listed? Follow us on all the local social media.

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

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

RSVP for Tours at:

1-800-276-8940 ext 2 or bustour@atlantisrealtygrp.com

HUD Homes & Foreclosures Tour 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.

IndyInvestorMagazine.com

What are QR codes?

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.

They look like this: ____________

How does the cell phone read the code?

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.

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

How QR codes work 1. 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.

AARON STECKELBERG â&#x20AC;˘ U-T

Sources: Open Mobile Alliance: Tech-faq.com

Lisamarie Schmidt

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

FOR SUBSCRIPTION & ADVERTISING

Editor-in-Chief

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

Amanda Shoaf

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

Chief Creative Editor

Contributors:

Mike Kerkhof David Heller Lisamarie Schmidt

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 lisas@atlantisrealtygrp.com for rates.

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8645 E 96th Street Indianapolis, IN 46256 742 Westridge South Drive Noblesville, IN

$100,000

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604 Hawthorne Anderson, IN

$26,000

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$125,000

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3 Bedrooms, 2.5 Baths, 1,776 Sq. Ft. www.tourfactory.com/1085409

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$70,000

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3 Bedrooms, 2 Baths, 1,474 Sq. Ft. www.tourfactory.com/1081303

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$23,000

BLC#21264354

3 Bedrooms, 1 Baths, x Sq. Ft. www.tourfactory.com/1084326

IndyInvestorMagazine.com

211 Hendricks Street Edinburgh, IN

$50,000

BLC#21264075

3 Bedrooms, 1 Baths, 2,745 Sq. Ft. www.tourfactory.com/910247

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$63,000

BLC#21265136

3 Bedrooms, 1.5 Baths, 1,940 Sq. Ft. www.tourfactory.com/1084907

1719 Crystal Street Anderson, IN

$22,000

BLC#21263142

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$101,600

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6 Bedrooms, 2 Baths, 2,510Sq. Ft. www.tourfactory.com/1032783

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$65,520

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4025 Richelieu Road Indianapolis

$56,900

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234 Menden Ingalls, IN

$34,000

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4 Bedrooms, 1 Baths, 3,974 Sq. Ft. www.tourfactory.com/1017371

9301 N Viola Way Noblesville, IN

$199,900

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3 Bedrooms, 2.5 Baths, 2,096 Sq. Ft. www.tourfactory.com/

20110 Marie Cour Noblesville, IN

$101,000

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IndyInvestorMagazine.com

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$385,000

BLC# 21256065

3 Bedrooms, 2.5 Baths, 4,452 Sq. Ft. www.tourfactory.com/

8758 Appleby Lane Indianapolis

$94,500

BLC#21249590

3 Bedrooms, 2 Baths, 1,316 Sq. Ft. www.tourfactory.com/1043292

589 Northgate Drive Greenwood, IN

$72,000

BLC#21228179

5 Bedrooms, 2 Baths, 1,983 Sq. Ft. www.tourfactory.com/990172

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

December 16th

& at 6935 Lake Plaza Drive Indianapolis

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.

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 market, advertise, and show HUD Homes • How to register with HUD • How to write a HUD Sales contract • How to navigate the HUD listing site • How “priority bidding” works • And Much More

How Our Process is Different

Client applies for financing and will get a preapproval whether they have a house picked out or not

(317)564-4906

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. Weekend and Evening Realtor Support! 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

Carla Jackson 317-796-3989

Happier clients – More Closings More Referrals

www.gvcmortgage-carmel.com

Yvette Wright 317-339-9339

IndyInvestorMagazine.com

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$25,000

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3 Bedrooms, 1 Baths, 1,375 Sq. Ft. www.tourfactory.com/1080928

7957 Castle Lake Road Indianapolis

$150,250

BLC#

4 Bedrooms, 2.5 Baths, 1,999 Sq. Ft. www.tourfactory.com/1086557

3209 Oceanline Indianapolis

7833 E Souter DRive Indianapolis, IN

$23,000

BLC# 21263432

3 Bedrooms, 1 Baths, 957 Sq. Ft. www.tourfactory.com/1080962

9833 E 96th Street Indianapolis

$105,000

BLC#21265443

3 Bedrooms, 2 Baths, 1,590 Sq. Ft. www.tourfactory.com/1083918

2178 White Indianapolis

4258 Larkspur Trace Indianapolis, IN

$52,000

BLC#21263238

2 Bedrooms, 1.5 Baths, 1,126 Sq. Ft. www.tourfactory.com/1082040

246 S Ritter Indianapolis

$160,500

BLC#21264007

3 Bedrooms, 2 Baths, 2,275 Sq. Ft. www.tourfactory.com/1082075

666 Woodruff Place E Drive Indianapolis

Too New For Photo $89,900

BLC#21236405

2 Bedrooms, 2.5 Baths, 1,099 Sq. Ft. www.tourfactory.com/1012365

$19,900

BLC#21262344

3 Bedrooms, 1 Baths, 900 Sq. Ft. www.tourfactory.com/1081844

IndyInvestorMagazine.com

$110,000

BLC#21262891

2 Bedrooms, 2 Baths, 2,191 Sq. Ft. www.tourfactory.com/1076143

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

NEW for M&M 3

Classes are held every month. Call for Dates and Times.

“Successfully Selling HUD 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

Please RSVP

by replying to this email or Contact person: 800-276-8940 ext 2 Email: HUD@atlantisrealtygrp.com Instructor

Lisamarie Schmidt

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.... www.HUDHomestore.com Atlantis Realty Group Inc 8645 E 96th Street Indianapolis, IN 46256 Phone: 800-276-8940x2 Fax: 866-469-4882 E-mail: HUD@atlantisrealtygrp.com www.AtlantisRealtyGroup.com

IndyInvestorMagazine.com

HUD & 203K Continuing Education

Successfully Selling HUD Homes in Indiana By Lisamarie Schmidt, Atlantis Realty Group, Inc. From 11am-1pm

Lisamarie Schmidt

December 20, 2013 • 11am-3:30pm at Moon Dog Tavern 4825 E. 96th Street Indianapolis, IN

Lunch served from 12pm-1pm

Financing HUD Homes By 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

Michael Kerkhof

Please RSVP. Seats are limited. We look forward to seeing you!

CALL 765-5920215 TODAY!

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8447 Ash Grove Drive Camby 4 Bedrooms, 2.5 Baths

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6233 Abaca Indianapolis

3 Bedrooms, 2.5 Baths BLC# 21261914

$119,700

1522 S Talbott Street Martinsville 3 Bedrooms, 2 Baths

BLC# 21254596

$18,900

8088 Teel Way Indianapolis

3 Bedrooms, 2 Baths BLC# 21260512

$156,750

2832 N Denny Street Indianapolis 2 Bedrooms, 1 Baths

BLC# 21257027

$35,000

6511 Redland Drive Indianapolis 3 Bedrooms, 2.5 Baths

BLC# 21254887

$89,500

3706 E Thompson Road Indianapolis 4 Bedrooms, 1.5 Baths

BLC# 21259510

$89,900

9728 Fortune Drive Fishers 4 Bedrooms, 3 Baths

BLC# 21261399

$385,000

1130 Northpointe Drive Franklin 2 Bedrooms, 2 Baths

BLC# 21261150

$33,000

4070 Candy Apple Blvd. Indianapolis 3 Bedrooms, 2.5 Baths

BLC# 21259221

$97,500

11541 Presido Drive Indianapolis 3 Bedrooms, 2 Baths

BLC# 21249203

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9046 Greenlee Indianapolis

4 Bedrooms, 2 Baths BLC# 21259033

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113 Downing Court Noblesville 3 Bedrooms, 2.5 Baths

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6170 Winthrop Indianapolis

1,984 Square Feet Duplex BLC# 21248357

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3026 Everbloom Way Indianapolis 3 Bedrooms, 2 Baths

BLC# 21254887

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5706 Rosslyn Indianapolis

2 Bedrooms, 1 Baths BLC# 21251902

$132,900

2006 Flamingo Way Franklin 2 Bedrooms, 1.5 Baths

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$74,900

19468 Links Lane Noblesville 3 Bedrooms, 2 Baths

BLC# 21260134

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4536 Payton Indianapolis

2 Bedrooms, 1 Baths BLC# 21259889

$38,900

9718 E SR 234 Wilkinson

4 Bedrooms, 2 Baths BLC# 21255289

$38,000

7939 Piney Wood Court Indianapolis 3 Bedrooms, 2 Baths

BLC# 21252413

$42,900

$145,000

407 W 32nd Street Indianapolis 2 Bedrooms, 1 Baths

BLC# 21260738

$12,997

8393 Big Oak Drive Atlanta, IN 3 Bedrooms, 2.5 Baths

BLC# 21258585

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3526 E 50th Street Indianapolis 4 Bedrooms, 2 Baths

BLC# 21258722

$74,900

11033 Falls Church Drive Indianapolis 4 Bedrooms, 2.5 Baths

BLC# 21259235

$107,500

630 N Colorado Avenue Indianapolis 4 Bedrooms, 2 Baths

BLC# 21250828

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10 6801 Lake Plaza Drive, Suite 112A • Indianapolis, IN 46220 • P: 317.578.3827 • F: 317.577.4484

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BLC# 21265501

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6078 E Smokey View Ln. Mooresville 3 Bedrooms, 2 Baths

BLC# 21230875

$173,000

4132 Waterthrush Drive Indianapolis 3 Bedrooms, 2.5 Baths

BLC# 21211569

$109,000

2252 Prairie Fire Lane Indianapolis 4 Bedrooms, 2.5 Baths

BLC# 21255913

$125,000

609 S 28th Street Elwood

3380 Enclave Crossing Greenwood 3 Bedrooms, 2.5 Baths

BLC# 21263111

$127,000

7907 Puckett Lane Camby

3 Bedrooms, 2.5 Baths BLC# 21250796

$109,000

511 N Main Street Fortville 3 Bedrooms, 1 Baths

BLC# 21264170

$53,500

582 Hunters Drive W #C Carmel 2 Bedrooms, 2 Baths

BLC# 21253725

$69,900

2507 S A Street Elwood

3 Bedrooms, 1 Baths

BLC# 21260672 $900/month

BLC# 21263405 $725/month

7906 States Bend Lane Indianapolis

8018 Harbor Walk Place Indianapolis

3 Bedrooms, 2.5 Baths

BLC# 21262930

$108,000

2 Bedrooms, 2.5 Baths

BLC# 21265119

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79 Westridge Place Greenwood 3 Bedrooms, 3 Baths

BLC# 21264177

$110,200

2303 Meadow Way Anderson 3 Bedrooms, 2 Baths

BLC# 21248913

$104,500

4321 Barharbor Court Indianapolis 3 Bedrooms, 3 Baths

BLC# 21242022

$104,500

15400 Herriman Blvd. Noblesville 7,0000 Square Feet

BLC# 21251116

$545,000

4302 N Audubon Road Indianapolis 3 Bedrooms, 1 Baths

BLC# 21264358

$36,900

3233 S Lyons Indianapolis

2 Bedrooms, 1 Baths BLC# 21264230

$9,900

8334 Castlebrook Drive Indianapolis 3 Bedrooms, 2.5 Baths

BLC# 21258039

$142,000

12628 Justice Crossing Fishers 3 Bedrooms, 2 Baths

BLC# 21264209

$99,000

8888 Pine Tree Indianapolis

3 Bedrooms, 2 Baths BLC# 21255057

$159,800

6104 Madison Indianapolis

2 Bedrooms, 1,620 SQFT BLC# 21247797

$199,900

4832 Barlow Drive Indianapolis 3 Bedrooms, 1 Baths

BLC# 2125238

$850/month

3042 Ralston Indianapolis

3 Bedrooms, 1 Baths BLC# 21263910

$13,399

5674 Loudon Drive Indianapolis 3 Bedrooms, 2 Baths

BLC# 21258650

$105,000

10225 Balfer DRive Fortville 3 Bedrooms, 1 Baths

BLC# 21262092

$97,900

1624 Roberts Road Franklin 6 Bedrooms, 2 Baths

BLC# 21264973

$49,900

5106 S Emerson Indianapolis

4 Bedrooms, 2 Baths BLC# 21242134

$169,000

4042 Waterfield Drive Indianapolis 3 Bedrooms, 2 Baths

BLC# 21265278

$50,000

317 Iowa Street Indianapolis

3 Bedrooms, 1 Baths BLC# 21263580

Chris Schlosser 317.523.3037 â&#x20AC;˘ chris@cmsrealestate.net || www.cmsrealestate.net

$12,399

Now is the Best Time to Protect Your Family with Life Insurance Monthly Premiums For.....

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37 38 39

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42 43 44 45

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$17.28

$19.47

$28.88

$33.25

$18.16

$20.56

$30.63

$35.44

$19.25

$21.66

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$40.69

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51 52 53 54

$23.41 $24.94 $26.69 $28.66

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$30.63

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IndyInvestorMagazine.com

Gorgeous three bedroom in beautiful Carmel! Back

9671 PRAIRIEWOOD WAY, CARMEL, IN

MLS #21256065

Kitchen

BRAND NEW custom kitchen, GE Profile and Bosch appliances! Hunter Douglas blinds throughout - all window treatments stay! Custom built cabinets in the basement that are built around the 62 inch television that also stays! Two beautiful fireplaces that are so cozy for those Indiana winter nights! Gorgeous landscaping, and the greenest grass you’ll find! All appliances maintained by this one-owner family! Don’t miss out! Garage Come and see it today!

$389,900

Contact: Jill Curtis at 317-480-7966 View tour at: http://tours.tourfactory.com/tours/tour.asp?t=1062288

The mortgage solutions you need from a bank you can trust. We have mortgages to fit every type of budget–including yours. And you can be confident that you’re working with a bank you can count on today and tomorrow. TAlk WiTh A ChAse loAn offiCer TodAy. PaulLines G Davenport, Loan |Ofﬁcer Eric | Loan Officer NMLS ID # 425938 T: 317-201-6360 Mortgage Banking | Chase | 200 E Carmel Drive paul.g.davenport@chase.com Office phone - 317-705-7422 |Cell Phone - 317-513-4216 http://homeloan.chase.com/paul.g.davenport

E-Fax-866-324-6989 | Eric.A.Lines@chase.com All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply. ©2011 JPMorgan Chase & Co. 2351G 0211

IndyInvestorMagazine.com

UPDATE ON HUD $100 DOWN PAYMENT! 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.

IndyInvestorMagazine.com

How To Purchase a HUD Home

Cómo comprar una Vivienda ¡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...

Unlock a Better Way to Sell Your House Atlantis Auction Group

List Your House for $75 on our Online Auction Lic AU10900054

1-800-276-8940 Ext 707

www.AtlantisAuctionGroup.com IndyInvestorMagazine.com

How To Purchase a HUD Home

Cómo comprar una Vivienda continued from page 15...

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 on page 17...

IndyInvestorMagazine.com

How To Purchase a HUD Home

Cómo comprar una Vivienda continued from page 16...

Paso 5: Busque una vivienda Escoja un agente de bienes raíces Lista de expectativas - ¿Qué características desea? Listsa de verificación de búsqueda de viviendas – lleve esta lista consigo al hacer comparaciones de viviendas Viviendas 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 casa Si 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 oferta Discuta 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 vivienda Presente 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 vivienda 10 preguntas para el inspector de vivienda Paso 8: Busque un seguro para propietarios de vivienda Las agencias crediticias requieren que usted tenga un seguro hipotecario. Asegúrese de buscar la mejor oferta. Seguro hipotecario 12 pasos para reducir el costo de su seguro de hipoteca Paso 9: Firme papeles Por fín está listo para el “cierre”. ¡Asegúrese de leer todo antes de firmar! Costos de cierre e información importante

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?? ? ? ? ? : n o i t s e Qu

What type of mortgage do you advise?

Answer:

There’s no easy answer to your question. To get the most attractive rate and terms on your next home loan, you’ll need to compare options on several types of mortgages. Since each mortgage product is designed to meet specific needs, you and the lender will evaluate your particular wishes and circumstances in order to find the product that is right for you.

Ask the Editor

Lisamarie Schmidt

Interest rates are determined by the term of the loan, the amount of the down payment, and your credit score, among other factors.

Fixed-rate home loans are typically available with terms of 15, 20, 30 or 40 years. Generally, lower interest rates are offered for mortgages with shorter terms. Adjustable-rate mortgages (ARMs) have a variety of terms. They include a lower up front rate, but that interest rate will increase during the life of the loan according to your contract or as market interest rates change. Compare rates from several lenders. Whether you are refinancing or searching for a new home loan. Only the lender you contact can give you the information you want. Often, your local bank or mortgage company will be your best choice. Mortgage companies have a wide variety of loans. Remember that if you are paying less than 20 percent down, you’ll also be paying for mortgage insurance. FHA loans are fairly easy to get. While their mortgages haven’t changed much, they do have their advantages: They have less-stringent qualification and credit requirements, and the required down payment is lower as well. The drawback is that they take longer to arrange and close than a loan from your local lender would. It takes time and effort to evaluate the market for what may be the largest purchase you’ll ever make.

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Financing a Fixer-Upper?

Purchase and Rehab All in One FHA Loan! 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 refinance ■ 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 flooring, 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 loans excellent financing solutions in today’s market:

■ Purchase or refinance ■ 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. Chris Moore Renovation Sales Manager Prospect Mortgage NMLS# 418893 600 E. Carmel Dr., Ste. 122 & 123, Carmel, IN 46033 Office: (317) 847-4738 | Cell: (317) 847-4738 Fax: (877) 536-9262 chris.moore@prospectmtg.com

Visit My Website! • Learn about home loans • Use loan calculators • Apply for a home loan

HomePath is a registered trademark of Fannie Mae.

Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer 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 Identifier #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.

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REAL ESTATE INVESTORS • Rehab ~ Fix and Flip Let 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.dkdglobalfinancial.com Call 317-809-5177 • Email: td@dkdglobalfinancial.com

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FEATURED

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

1887 Sweet Gum Drive Avon

Come take a look at this beautiful two story brick house with over 3000 sq ft. With 5BR and 4BA. It has great fireplace, hardwood floors, 3 car att garage and an open patio/ wood deck. Spacious KT and in ground pool. BLC# 21259931 $284,900

746 N Belmont Indianapolis

3BR bungalow together with hardwood floors & original wood work dividing the living room and dining room. Eat-in kitchen. Unfinished basement to complete as you wish. BLC# 21245900 $18,500

8151 S Talbott Avenue Indianapolis

Come take a look a this nice 3 bed 2 bath ranch home. You will love the beautiful hardwood floors throughout the house. Also you will love the beautiful kitchen. The back yard is huge with plenty space for family functions. BLC# 21261387 $139,900

5703 Misty Ridge Indianapolis

This 1,138 square foot single family home has 2 bedrooms and 1.0 bathrooms. BLC# 21254305

$82,000

14184 Woodfield Circle Carmel

This 3,000 sqft home has 4 bedrooms and 3.2 baths. Dual sided fireplace, hardwood floors, granite tops, screened porch, in ground pool, walk out basement, full kitchen in basement and 2 car attached garage. BLC# 21260195 $344,900

A two story with over 2000 sq ft of living space located at Spring Creek. With 4 bedrooms and 2.1 baths. This home has a fireplace, 2 car attached garage and a wood deck. A nice place to relax. Must see! BLC# 21260208 $184,900

6441 Rockville Road Indianapolis

Home has some hardwood floors. 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 $79,900

5349 Creekbend Drive Carmel

4042 W Vermont Indianapolis

A great 4 bedroom home with attatched garage and air conditioned right next to Gasoline Alley. This is a great home in a great location come check it out! BLC# 21257712 $27,000

Too New For Photo 8311 Thorn Bend Drive Indianapolis

4805 N Shadeland Avenue Indianapolis

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 $199,900

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!

2425 E 39th Street Anderson

1057 Timber Creek Drive U# 7 Carmel

BLC# 21185076

$109,900

4839 Welton Street Greenwood

Nice 2 bedroom bungalow with vinyl exterior and 2 car attached garage. Property sits on nice sized lot with spacious back yard. Home has partially finished basement. BLC# 21255836 $54,900

941 W 77th Street N Dr. Indianapolis

3BR 1.5BA home with hardwood floors in the bedrooms. The kitchen has built-in appliances. The backyard has plenty of room for family functions. Come check it out! BLC# 21255128 $61,200

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 flooring, new furnace & more. BLC# 21212042 $86,500

A lovely brick ranch with 3BR and 1BA. It has a fireplace, Kitchen features hardwood floors & plenty of cabinet space and Spacious bedrooms. Large lot size. BLC# 21252715 $155,000

2726 Dr A J Brown Indianapolis

1505 S Reisner Street Indianapolis

1439 Sarazen Indianapolis

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

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

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 $27,900

467 W Harriman Avenue Bargersville

This 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 floor, while the other 2 bedrooms are upstairs. The nice size backyard leaves plenty room for activities. BLC# 21261748 $105,000

2828 Rand Lane Anderson

A beautiful two story home with over 1500 sq ft of living space in Paramount Springs. With 3 bedrooms and 2.5 baths. Fireplace, 2 car attached garage and maple kitchen cabinets. Move-in ready. BL# 21260218 $95,000

538 Ironbrook Court Indianapolis

This luxurious 2 story home located on Indy’s South East side has 3 bedrooms, 3 bathrooms,and you will be impressed by the elegant cherry hardwood floors. The stunning landscaped front and back yard gives this home awesome curb appeal.

BLC# 21251261

Jenni Ruiz || jenni@ruizrealty.net

$124,500

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

Come take a look at this beautiful 4 bed 3 bath home. This brick home is 2 levels and has a 2 car garage and great curb appeal. You will love the spacious living room. There is also a den. The master bedroom is equipped with a fireplace. BLC# 21264096 $179,900

7072 W Ivy Lane New Palestine

Gorgeous 4 bedroom 4 bathroom home. You will fall in love with this spacious floor plan. This home has a loft and a huge sunroom. The kitchen has beautiful wooden cabinets. BLC# 21263174

$244,900

3080 Buckmoor Pkwy Greenwood

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

8922 Haverstick Road Indianapolis

Low maintenance all brick 3 bedroom home. You will love the hardwood floors and the cozy fireplace. 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

FEATURED

360 Legacy Blvd. Greenwood

Too New For Photo 7850 E 46th Street Indianapolis

1146 Churchman Indianapolis

Take a look at this bungalow on Indy’s east side. Home has a formal living room with eat-in kitchen. 3BR with upstairs bonus room. Nice wood deck in rear. Home has many possibilities. BLC# 21251400 $20,000

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

4343 Kessler Blvd. N Drive Indianapolis

728 Fenster Court Indianapolis

BLC# 21249591

$34,900

916 W Chapel Pines Drive Indianapolis

12317 Titans Drive Fishers

2726 Dr A J Brown Indianapolis

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 $71,000

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

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

9112 Blue Pine Drive Indianapolis

1310 Crescent Drive Greenwood

5244 Shelbyville Road Indianapolis

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

3 bed 2 bath brick home. This home a beautiful hardwood floor througout the house. A fireplace in the family room. The kt has breakfast bar. The backyard is very spacious. BLC# 21264171 $114,900

Come take a look at this nice 3 bed 2.1 bath home. This home has a nice sized living room. The master bedroom also has a nice full bathroom in it. This house is a must see! BLC# 21264285 $105,000

Great ranch in desirable greenwood neighborhood. Partially fenced back yard. Access to 3 fishing lakes. Low utilities, and a nice home. BLC# 21255202 $74,900

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 $125,900

19024 Northbrook Circle Westfield

6338 Boulder Drive Anderson

2329 Sunset Blvd Anderson

6742 E 19th Street Indianapolis

1532 E Markwood Indianapolis

A nice 3BR 1.5BA home with a nice sized living room and a great kitchen with the dining room connected to it. You will love the huge back yard with a huge deck. BLC# 21265254 $74,900

Come take a look at this 3BR 2BA ranch. Home has a spacious LR with large windows and fireplace. The MBR has vaulted ceilings and private bath. The large, fenced backyard. BLC# 21265452 $80,000

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

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

This cute Bungalow has grown in square feet over the years. Nice large living room, full fenced in back yard, mature trees, two bedrooms upstairs and master bedroom on main floor. BLC# 21265561 $48,000

Too New For Photo 417 N 15th Street Beech Grove

Great ranch in Beech Grove with 4 bedrooms!!! Vinyl siding for less maintenance and partially fenced yard. Roomy storage shed. Wood deck. BLC# 21263734 $39,900

3833 S Randolph Street Indianapolis

This 1 bed 1 bath home has great potential. This home has a nice sized living room, and kitchen.Also, this home has nice hardwood floors.The backyard is nice size with a shed. BLC# 21262294 $34,000

1224 N Bonar Avenue Indianapolis

Exceptionally beautiful large grassy level building lot with mature trees in a quiet neighborhood where properties are well cared for. BLC# 21248917

$29,900

412 S Main Street Fortville

Check out this 3 bed 2 bath home with plenty of potential. This home has a nice size living room. And the master bedroom has a nice walk in closet. Come check it out! BLC# 21265226 $16,500

Jenni Ruiz || jenni@ruizrealty.net

944 S Kenwood Indianapolis

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

HUD.GOV/HUDHomes

U.S. Department of Housing and Urban Development

Listing and Bidding Procedures Disclosures 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 qualified 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 financing, 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 financing. 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.

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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 financing. 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 defines as owner-occupant purchasers, qualified nonprofit organizations and government entities. There will be: • a thirty (30) day Exclusive Listing Period for Owner Occupant purchasers for properties listed insurable and insurable with Escrow Repairs, •

a five (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, dig shall be opened and reviewed on each day after the tenth (10th) day up to the thirtieth (30th) day, or until a winning bid is received. If no winning bid is received in that thirty (30) day period, the listing shall be extended to all buyers on day 31. 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 notified if you overbid and will require submission of proof of funds. Buyers must bring cash for the overbid amount.

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Bid Opening, Review and Results In 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.

Property Search Results There are no HUD Homes that match your search criteria.

Required Contract Documents HUD 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.

•

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•

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 not listed on the contract. The buyers name must match exactly on lines 1, 2 and 13 on the contract.

Down Payment Owner 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 Deposit Required 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

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Earnest Money Forfeiture and/or Return The 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: •

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

•

Insured Sales:

• 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.

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Closing Time Frame 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 Policy ALL 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.

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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 Clause This addendum is not required and will not be executed on HUD sales. HUD homes are exempt from the clause.

Broker Registration and NAID As 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

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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 HUD. 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 if you purchaser would like to use a different closing agent at their own expense you can fill in the blank with the closing agency they will use (otherwise it will be closed with HUD’s designated closing agent) 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

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Please fill out contract in blue ink!

U.S. Department of Housing and Urban Development Office of Housing Financial Housing Commissioner Property Disposition Program John Doe 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:

Sales Contract

HUD Case No.

123-456789

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 Names must match Line 1 and state whether single, married and tenancy name(s) and style: _______________________________________________________________________________________________ $100,000.00 3. The agreed purchase price of the property is 3. $________________________ based on sales price, $500 for < $50k and $1,000 for > $50k, Held By HUD 1,000.00 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 HUD earnest money deposit shall be held by ____________________________________________________ , If property is UI, only box 4. Purchaser is applying for FHA insured financing [ 203(b) 203(b) repair escrow, 203(k) ] with a cash 203k or Conv/Cash can be down payment of $ ________________ due at closing and the balance secured by a mortgage in the amount of checked ... for properties $ _______________________ for ________ months (does not include FHA Mortgage Insurance Premium, listed as IN/IE check the prepaid expenses or closing costs Seller has agreed to fund into mortgage. ). box of the loan you have Said mortgage involves a repair escrow amounting to $ _____________________. been approved for 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 see HUD Notice 2005-12 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 Up to 3% selling bonus, if offered by seller) of 6a. $_______________________ 3% auto populated by HUD 6b. If broker identified below is not the broad listing broker, broad listing broker will receive a commission of 6b. $_______________________ 90,000.00 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. 45 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 same as line 3 be held at the office of Seller’s designated closing agent or _________________________________________________________________ pull the LBP Addendum from 10. If Seller does not accept this offer, Seller may may not hold such offer as a back-up to accepted offer Please property details as required. 11. 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. JD Purchaser(s) Initials: _________ Seller’s Initials: ________ don’t forget 13. This contract is subject to the Conditions of Sale on the reverse hereof, which are incorporated herein and made part of the contract. Certification of Purchaser: 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 Current Address John Doe Purchaser(s) Social Security Number (SSN) or Employer Identification Number (EID) (Include hyphens) Phone No:_ Date Purchaser(s) Signed Contract 800-555-1212 123-45-6789 01/01/2011 Date Contract Accepted by HUD Seller: Secretary of Housing and Urban Development By: (type name & title & sign) X Certification of Broker: 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: 12-3456789 XYZ ABC XYZABC1234 1 Home Road Signature of Broker: Broker’s Phone No: City, St., 12345 Type of print the name and phone number of sales person: Managing Broker Signature This section for HUD use only. Broker notified of:

Authorizing Signature & Date:

Acceptance Back-Up No. ____________ Rejection Return Earnest Money Deposit x Previous editions are obsolete

ref. Handbook 4310.5

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form HUD-9548 (1/99)

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Yvette Wright

Director of Marketing/Sales

317-339-9339 Direct

Ywright@gvcmortgage.com

Your house sure looks pretty at Christmas: Why not show it?

Family, cheer, warmth these are some of the memories and feelings the holidays conjure up and they are, not coincidentally, the best possible feelings to create when showing your home. Holidays offer the seller so many options for making a home perfect for the buyer: Special lights, holiday smells, cozy fireplaces, and festive decorations. Remember, though, the motto for sellers is ‘stay simple.’ • Use modest lighting and decorations inside and out. • If you have a Christmas tree, consider buying one size smaller than you usually buy. Arrange a few simple gifts with matching wrapping paper under the tree. Make sure there is no extravagant display of gifts or toys under the tree. Store furniture that is displaced by the tree. • For all decorations, smaller and simpler is better. • Favor natural materials such as real pine branches and pine cones for wreaths and other decorations, and shun plastics or bright, big decorations. Avoid blowup decorations outside. • Decorate your home with fragrance. Bake bread or cookies. If this is impossible, try light holiday fragrances such as vanilla or cinnamon. Avoid heavy pine smells. • Clean thoroughly your fireplace and make sure a small, crackling fire is going during walk-throughs. But pay special attention to the temperature of your home. Make sure the home is lightly warm, not so toasty that potential buyers can’t stand to wear their coats. • Make sure all your window blinds and curtains are open for day showings. This means the windows themselves must be perfectly clean.

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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! “The Mark of Inspector Professionalism” 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

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:

0-12 Years

13-29 Years

30+ Years

As 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.

Homes 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.

While 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.

9.11% of homes contained major structural concerns

13.65% of homes contained

37.71% of homes contained

19.33% of homes needed

49.35% of homes

55.34% of homes

14.15% of the homes

30.29% of the homes

48.63% of the homes

<1% of the homes had

aluminum household wiring

5.54% of the homes had aluminum household wiring

4.72% of the homes had aluminum household wiring

roof repairs

required electrical system repairs

major structural concerns

needed roof repairs

required electrical system repairs

AGE OF HOME:

major structural concerns

needed roof repairs

required electrical system repairs

11.7% had inadequate

30.45% had inadequate

48.88% had inadequate

15.4% of surveyed homes required Central Heating System repairs

59.74% of surveyed homes

54.35% of surveyed homes

13.67% of homes required

28.59% of homes required

20.98% of homes required

1% of homes required water heater repairs

18.34% of homes required

37.31% of homes required

8.96% had problems with the plumbing system

20.19% had problems with

40.42% had problems with

<1% had old or mixed piping

18.34% had old or

37.31% had old or

22.64% of homes showed

26.17% of homes showed

47.38% of homes showed

insulation

repair to the Central Cooling System

signs of water seepage or drainage concerns

insulation

required Central Heating System repairs

repair to the Central Cooling System

water heater repairs

the plumbing system

mixed piping

signs of water seepage or drainage concerns

insulation

required Central Heating System repairs

repair to the Central Cooling System

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.

water heater repairs

the plumbing system

mixed piping

signs of water seepage or drainage concerns

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!

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“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!”

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

Heller Team Realtors

DAVID HELLER ASSOCIATE BROKER

STACY HELLER REALTOR

HellerTeam@AtlantisRealtyGrp.com

317.402.0779 (C)

800.276.8940 ext 713

Your house sure looks pretty at Christmas: Why not show it?

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FEATURE

317-842-3400 9784 Fortune Drive Fishers More than 3,100 sqft with 4BR and a huge basement. There is a huge KT with center island and a FR with fireplace. Brand new exterior paint, carpet, & much more! $339,000

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! $205,000

14151 Dickinson Court Fishers This 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

12764 Raiders Blvd. Fishers

10403 Bicknell Circle Fishers

3721 Timothy Lane New Castle

5BR furnished home w/ kt w/ breakfast bar overlooking the GR with fireplace and vaulted ceilings. Basement is completely finished. The large deck out back is perfect for enjoying the fire pit. Large two car garage. $2,595/mo

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

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

2001 S Batavia Muncie 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. $50,000

8949 Ginnylock Drive Indianapolis This 4BR 3BA home has 1,660 sqft, a finished basement, and a screened porch. There is also a fireplace. Movein ready w/ many updates. $178,900

10747 Mistflower Indianapolis A 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

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. $235,900

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. $99,999

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

Great 4 bedrooms 1.5 bath home with eat in kitchen. Hardwood floors in upper level, bedrooms and family room. This home also has a wood deck off the family. $69,000

6601 Sparrowood Drive Indianapolis

2431 N Galaxy Lane Indianapolis

5314 Traditions Drive Indianapolis

This 3BR, 1.5BA has a fenced yard, twocar garage, and more than 1,100 sqft. It is conveniently locate. This one needs some TLC, but it has tons of potential and is priced to move. $54,900

616 N Woodlark Drive Indianapolis

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

12580 Scottish Bend Carmel Home has four spacious bedrooms, four and a half baths, and more than 3,000 square feet! This does not include the finished basement with an awesome bar for entertaining. Located in Lynnwood, one of Carmel’s most prestigious communities, this dream home is not going to last long. $474,000

13056 Overview Drive Fishers 3BR, 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

3968 Richelieu Road Indianapolis

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

5021 Peppergrass Court Indianapolis

3BR 2BA home in Eagle Creek. On cul-de-sac next to community pool and pond. Eat-in kitchen with pantry. Fireplace in great room. MBR has vaulted ceiling. $1,000/mo

8155 Schoen Drive Indianapolis

This cute ranch has 3BR, 1.5BA, and more than 1,100 sqft. There is a large tandem garage & a deck. This home has a lot of character and just look at this price!! $44,700

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

16865 Cedar Creek Lane Noblesville This beautiful 4BR, 2.5BA home has new flooring throughout, paint, and many more improvements. Home has 2,414 sqft. + basement. $184,900

9856 Scott Court Indianapolis

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

4118 N Capitol Indianapolis

This once neglected home has been transformed. It has a completely renovated kitchen and bath, new carpeting and laminate floors throughout the house. $98,000

8234 E 47th Street Indianapolis

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. $38,700

4662 Tim Tam Indianapolis

Completely rehabbed....new carpet, new AC, updated kitchen, finished lower level, updated two baths, and many more. This home has a great floor plan and a large lot. This is a MUST SEE! $124,500

11950 Bills Avenue Fishers Home 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! $280,000

558 Andover Road Anderson

Cute 3 bedroom 1 bath unit on one side of duplex with plenty of room to stretch out in 825 sq ft of space. This will rent fast at this price don’t wait! $545/mo

4251 N Ralston Indianapolis

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

3931 Delmont Drive Indianapolis

Cute 3BR 2BA home has a formal LR, huge family room with vaulted ceilings, wood beams, an eat in kt and a great deck. A quiet tree lined neighborhood. Don’t wait - won’t last long. $725/mo

3206 N Elmhurst Drive Indianapolis

3 bedroom, 1.5 bath home on wooded lot with mature trees. $70,000

9800 Westpoint Drive, Suite 220 • Indianapolis • 317-842-3400

4421 Kingsley Drive Indianapolis

There’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

918 N Morgan Rushville

This 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. $49,900

4034 N Temple Indianapolis

There’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

9510 Tower Lane Indianapolis

Great 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

8554 Hague Road Indianapolis

This 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

5261 Woodside Drive Indianapolis

3BR 2BA home surrounded by mature trees. This 1447 sqft home has a cozy stone fireplace & hardwood floors. You can lounge on the deck or enjoy the lovely front porch. $69,000

12994 Saxony Blvd. Fishers

Ranch 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. $354,000

1218 N Drexel Avenue Indianapolis

Hardwood 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

1430 N Gladstone Indianapolis

There’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

4728 N Kitley Avenue Indianapolis

Great 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

12473 S SR 3 Westport

This 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. $36,000

6409 N Appollo Drive Alexanria

What 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. $14,400

Too New For Photo 1837 N Emerson Indianapolis

There’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

9231 E 36th Place Indianapolis

Spacious 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

1302 N Downey Indianapolis

Cute 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

6359 Dardeb Road Indianapolis

3BR 2BA home with a det 1.5 car garage and nice large corner lot with fence. Nice big yard - there’s already a deck in place for you to utilize. $31,500

6464 E State Rd 26 Frankfort

Plenty 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. $61,600

2824 Brookside Avenue Indianapolis

This 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

11968 Cross Country Ct. Fishers

This 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. $275,000

1500 Woodbine Drive Anderson

This 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! $54,000

2903 N Rouark Indianapolis

This 3BR 1.5BA home sits on a quite street. There is large two story deck off the back of the house overlooking your private back yard. This one has brand new paint, carpet, and much more! $72,600

828 Bittersweet Anderson

This 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! $58,500

731 Carlyle Place Indianapolis

There’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

407 Chestnut Street Noblesville

This 2BR home has nearly 1,000 sqft, a large covered porch, and rear deck. It sits on a nice corner lot and is conveniently located only a few blocks from downtown Noblesville. $35,500

8202 S 300 Markleville

There 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

1414 N Tuxedo Street Indianapolis

Charming, solid home, with 2BR on the main level and one upstairs. Updated bathroom, refinished hardwood floors and newer carpet in the bedrooms. $27,900

8148 Foxchase Circle Indianapolis

This 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

3020 N Osceola Lane Indianapolis

3 bedroom, 3 full bath tri-level with inlaws quarters added to the rear of the home with its own kitchen, living room and bedroom. $90,000

Too New For Photo 401 N Columbia Street Boswell

2BR, 1BA home sits on a great, private lot and features nearly 1,500 sqft. There is a detached garage. Look at this price! This would be a great one to call your own or add to your portfolio! $23,000

3633 N Tiffany Drive Indianapolis

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

3701 N Emerson Indianapolis

Cute 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

10920 Tallow Wood Lane Indianapolis

Dramatic 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

615 W Grant Hartford City

This home has 3BR, 1.5BA, and nearly 1,100 sqft. There is an attached garage and it sits on a great lot. The kt has a large center island. Call it home or add it to your portfolio! $22,900

3417 Lauren Drive Indianapolis

This 3BR 2BA home w/ fenced in back yard. Large rooms and lots of windows There is a huge master bedroom with a walk in closet and full bath. Don’t wait on this one it will not last! $900/mo

4147 Alcove Drive Indianapolis

3BR, 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

3127 N Gladstone Indianapolis

Home has 3BR, 912 sqft, and sits on a nice lot. There is a large enclosed porch and just look at this price! Fix it up and move in, or rent it out. Don’t pass up this opportunity. $3,900

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

5320 E 13th Street Indianapolis

Cute 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

10852 Gathering Drive Indianapolis

3BR 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

1505 N Colorado Indianapolis

Adorable 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. $650/mo

9518 Tower Lane Indianapolis

Large 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

8570 E 10th Street Indianapolis

This home has 4BR, almost 900 sqft of basement, and more than 2,200 sqft of living space. This home has some hardwood floors, and a two-car detached garage. $59,500

2923 Percheron Lane Indianapolis

Spacious 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

3052 Adams Street Indianapolis

3 bedroom 1 bath home ready to move in. Quite neighbor hood just East of Keystone and North of 30th. $650/mo

WWW.WILMOTHGROUP.COM

2310 N Goodlet Indianapolis

There’s nothing to do here but collect the rent of $695 per month. 2BR/1BA. The current owner has updated almost all major mechanicals + a new roof has been installed. $40,000

4114 Mellis Drive Indianapolis

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

6150 Old Mill Drive Indianapolis

Adorable 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! $71,500

3712 N Lasalle Street Indianapolis

This 2BR 1BA home has 900 sqft. The neighborhood is quite with large mature trees all around. This home is located with easy access to transportation and shopping. $550/mo

Making a House Your Dream Home with Renovation Loans! 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. FHA 203k (Consultant)

FHA 203k (Streamline)

Fannie Mae Homepath®

Fannie Mae Homestyle®

Loan Type

Purchase or refinance

Purchase only

Property Type

Purchase and renovate most residential properties

Purchase and renovate a Homepath designated Fannie Mae-owned property

1-4 Unit Primary Resident 1 Unit Second Home 2-4 Unit Investment Properties 1 Unit Investment Property Minimum Down Payment

Gift Funds

√

Purchase or refinance Purchase and renovate most residential properties

√

Fannie Mae Hompath® (Streamline)

√

√ √

3.5%

20% for 2 - 4 unit primary and 1 - unit investment

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

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

3.5%

Permitted per HUD guidelines

Mortgage Amount

3% for primary residence 1 - unit property 15% for 1 - unit property (second home or investment) 25% for 2 - 4 unit primary or investment

20% for 1 - unit primary and second homes

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

Mortgage Insurance (MI) Required

√

Maximum Renovation Amounts

No maximum as long as mortgage amounts are within county guidelines for FHA loans

Up to $35,000

Up to 35% of the as completed value, no more than $35,000

Allowable Repairs

From structural changes to landscaping, new appliances and more

From flooring to painting, remodeling kitchen/bath, appliances and more. No major remodeling structural repairs or landscaping

From flooring to painting, remodeling kitchen/bath, appliances and more.

50% of the as completed value

50% of the as completed value, up to $35,000

From structural changes to landscaping, new appliances, swimming pools, and more

Prospect customers benefit tremendously from our internal Draw Department. 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. I am a certified Renovation Lending Specialist and can answer all your questions about this exciting loan program, and work with you to get prequalified. Contact me today! Chris Moore Renovation Sales Manager Prospect Mortgage NMLS# 418893 600 E. Carmel Dr., Ste. 122 & 123, Carmel, IN 46033 Office: (317) 847-4738 | Cell: (317) 847-4738 Fax: (877) 536-9262 chris.moore@prospectmtg.com

Visit My Website! • Learn about home loans • Use loan calculators • Apply for a home loan

HomePath is a registered trademark of Fannie Mae.

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Computer Issues? We CAN Help! I can help you with any IT problem you’re having! • Workstations • Servers • Cloud-based • Much, much more!

CONTACT ME TODAY! Bill Perdue bill@perdueconsulting.com 317-332-4619

Stay healthy - A Christmas gift for yourself Don’t wear yourself out in December over-preparing for family, friends, and fancy dinners.

Here are some tips to give yourself a Merry Christmas: • Decorate for yourself. If you love your Christmas village, then why not do it early, even before Thanksgiving, so you can play with it and enjoy it longer? • If you don’t care a thing about a big tree with fancy decoration, deck the halls with something you do like and skip the tree. • The main idea is to do the decorating that means the most and skip the stuff that just drains your energy. • Get some rest! Your family and friends want to see you happy, not frazzled and worn. Plan ahead to have some fun yourself. • Keep dinner simple. Even for formal dining, keep your menu to five items. Make those items special. Forget the rest. • Simple shopping. Studies show that, overwhelmingly, the gifts people like most are gift certificates or money. These don’t work for kids, but they’re a convenient and appreciated gift for adults like your mother, your best friend, your sister, aunt or your uncle.

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8645 E 96th Street Indianapolis, IN 46256 2736 W Bartholomew Flat Rock, IN

$33,000

BLC#21256371

2 Bedrooms, 1 Baths, 690 Sq. Ft. www.tourfactory.com/1060611

10941 N 1050 Hope, IN

$30,000

BLC#21234220

2 Bedrooms, 2 Baths, 960 Sq. Ft. www.tourfactory.com/1000724

913 Woodhill Drive Indianapolis

$80,000

BLC#21257293

3 Bedrooms, 2 Baths, 1,394 Sq. Ft. www.tourfactory.com/1060838

1726 E 73rd Street Indianapolis

$59,000

BLC#21234528

2 Bedrooms, 1 Baths, 950 Sq. Ft. www.tourfactory.com/1005611

817 Birch Indianapolis

$35,000

BLC#21237619

3 Bedrooms, 2 Baths, 622 Sq. Ft. www.tourfactory.com/1008900

6558 Glory Maple Lane Indianapolis

$117,000

BLC# 21253546

4 Bedrooms, 2.5 Baths, 2,402 Sq. Ft. www.tourfactory.com/1047604

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1754 N Pricilla Indianapolis

$49,500

BLC#21250186

2 Bedrooms, 1 Baths, 1,218 Sq. Ft. www.tourfactory.com/1043285

5512 Wood Hollow Drive Indianapolis

$86,000

BLC#21256794

3 Bedrooms, 2 Baths, 1,409 Sq. Ft. www.tourfactory.com/1064270

4509 E 21st Street Indianapolis

$25,000

BLC#21149519

2 Bedrooms, 1 Baths, 1,440 Sq. Ft. www.tourfactory.com/807217

  

  Do not depend 100% on your inspection for the future. How can you protect your largest personal investment?

      

Lisamarie Schmidt

The Atlantis Realty Group 8645 E 96th Street Indianapolis IN 46256 800-276-8940

P.O. Box 797, Carmel, IN 46082 Call to Theorder Atlantis800-544-8156 Realty Group www.rwswarranty.com

     

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8645 E 96th Street Indianapolis, IN 46256 3140 Wayside Anderson, IN

$71,000

BLC#21258093

4 Bedrooms, 2.5 Baths, 2,224 Sq. Ft. www.tourfactory.com/1065769

612 W Adams Street Alexandria, IN

$50,000

BLC#21258733

4 Bedrooms, 2 Baths, 775 Sq. Ft. www.tourfactory.com/1069145

5519 E 20th Street Indianapolis

2314 Nichol Anderson, IN

$22,000

BLC#21258412

3 Bedrooms, 1.5 Baths, 1,879 Sq. Ft. www.tourfactory.com/1063786

2403 Baur Drive Indianapolis

$71,000

BLC#21257293

3 Bedrooms, 1 Baths, 1,064 Sq. Ft. www.tourfactory.com/1069891

1722 Lilac Drive Indianapolis

700 W Ohio Street Fortville, IN

$47,500

BLC#21258511

2 Bedrooms, 1 Baths, 864 Sq. Ft. www.tourfactory.com/1065995

1307 N Malvina Indianapolis

$67,500

BLC#21252225

3 Bedrooms, 2 Baths, 1,497 Sq. Ft. www.tourfactory.com/1051250

3558 Bowen Place Indianapolis

Too New For Photo $20,000

BLC# 21261867

3 Bedrooms, 1 Baths, 952 Sq. Ft. www.tourfactory.com/1076709

$118,000

BLC#21259374

3 Bedrooms, 1.5 Baths, 1,312 Sq. Ft. www.tourfactory.com/

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$44,500

BLC#21257881

3 Bedrooms, 1 Baths www.tourfactory.com/

D O t A t T t m u lo O t t f

Operation Santa Paws, December 1-21 During the holiday season extra help is needed for abused and abandoned animals in local animal shelters. One grassroots organization, Operation Santa Paws, is helping by spreading the word about a canine-feline toy or treat drive to benefit less-fortunate pets this season. Animal lovers are encouraged to purchase a new dog toy, cat toy, food or food treats that will be delivered in time for Christmas to a local shelter and rescue organization. Think about a sad puppy who knows nobody loves him, a beautiful cat that has lost her family for some reason, or a mature dog that had a loving family until they had to move and could no longer care for him. On Christmas, a toy or a food treat will make them joyful for the day, and you will feel joyful for making it possible.

Atlantis Realty Group will be delivering items to two local shelters on December 22nd. If you would like to drop off items to our main office, 8645 E 96th Street, Indianapolis, IN 46256, we would be glad to deliver them to the shelter for you.

Looking for a 2nd home in Florida??

Now is the time to buy!

Atlantis Realty Group can help. We have an office south of Miami in Homestead, Florida. Check out our listings and others at www.AtlantisRealtyGroup.com

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IT’S A JUNGLE OUT THERE BUILDING THE BRIDGE HOME OWNERSHIP 203k GUIDE How do you turn a fixerTO upper into your dream home?

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 the house hasLoan! been purchased. The Solution – theuntil FHA 203(k) HUD's 203(k) program can help you with the purchase or refinance of a property by

The purchase of athehouse needs repair is often a catch-22 situation, because the bank allowing you to roll-in costs ofthat repairs and improvements up to 110% of the after improved value of the home with a minimum 3.5% down payment. 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. We hope you find this 203(k) guide helpful. If you have more questions or would like to

HUD’s 203(k) program can help youmywith theinfo purchase or refinance of a property by allowing speak with a 203(k) specialist about a loan, contact is below. Happy House Hunting! 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: Brought to you by:

Michael Kerkhof

AmeriFirst Home Mortgage

Michael Kerkhof Office 317-254-8800

AmeriFirst Home Mortgage Cell 317-371-5079 Officemkerkhof@amerifirst.com 317-254-8800 NMLS #247367 Cell 317-371-5079 mkerkhof@amerifirst.com NMLS # 247367

NMLS ID 110139

AmeriFirst Home Mortgage

The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance LenderThe ID 110139 programs. 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 800.466.5626 expanding homeownership opportunities.

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203(k) - How Is It Different?

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.

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.

We will discuss both of these loans in detail but first letâ&#x20AC;&#x2122;s discuss the 203(k) process from start to finish.

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.

These are two Different 203(k) Loans Available

Hereâ&#x20AC;&#x2122;s What You Can Expect:

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 Choosing which loan suits you best will depend after renovation. The appraiser will also determine on the amount of improvement your property if there are any additional repairs necessary for the property to meet minimum FHA property needs. guidelines. Any health or safety issues would be Streamlined: The 203(k) Streamline is an addressed at this time. all-in-one loan used for homes that need minor repairs. It allows borrowers to finance the purchase 4. Loan is Approved and Closed - The of an existing home and make improvements or borrower, property and requested improvements upgrades up to $35,000 before move-in. There are are approved and the loan closes for an amount no minimum repair costs and the borrower must that will cover the purchase or refinance cost of the property, along with the improvement costs. The occupy the property. amount of the loan will also include a contingency Standard: The Standard 203(k) is an all-in-one reserve of 10% to 20% of the total renovation costs loan used when homes need major rehabilitation, and is used to cover any overages resulting from or when repairs are structural, involves landscaping, extra work required to complete the work proposed. or when the renovation costs exceed $35,000. There At closing, the seller of the property is paid off and must be a minimum of $5,000 worth of repairs, and the remaining funds are put in an escrow account again, the borrower must occupy the property. FHA to pay for the repairs and improvements during the loan limits are based on property type and location rehabilitation period.

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5. Work Begins on the Property

(2) Must be owner occupied (no investors)

The 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.

(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

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.

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

(5) The maximum amount of the loan cannot exceed 100% of the after improved value (6) No more than four condo units per building

How the Program Can Be Used 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.

Eligible Properties

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

To be eligible, the property must be a one- to fourfamily 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.

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

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

Features of the 203(k) Streamline Eligible and Ineligible Improvements for the 203(k) Streamline Eligible 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

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• 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.

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

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.

Features of the Standard 203(k)

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.

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Eligible Improvements for the 203(k) Standard Homeowners 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.

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.

The types of improvements that borrowers may 4. A minimum of 10% of the cost or rehabilitation make using Section 203(k) Standard loan financing and maximum of 20%. include: If not used (after all construction is complete) the • All of the improvements listed in the eligible remaining amount will be applied to pay down the principal balance of the loan. The total of all improvements for a streamlined 203(k) holdbacks may be released only after a final • Structural alterations and reconstruction, like inspection of the rehabilitation and issuance of the room additions, repair of termite damage, major Final Release Notice. remodeling of kitchens and bathrooms, finishing an attic or basement, adding a second story to a home, etc

Maximum Mortgage Amount Calculation

• 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.

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

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.

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Potential Home Checklist

Having 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 __Cape Cod

Construction Type __Wood

__Ranch __Condo

__Brick

__Stucco

__Split Level __Townhouse

__Traditional

Renovation Checklist

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

Address_______________________________________________ Room/ Location

Problem Area

Renovation Needed

__Vinyl Siding __Aluminum Siding

Exterior Features

Landscaping __Good __Fair __Poor Fencing __Good __Fair __Poor Porch __Good __Fair __Poor Paint __Good __Fair __Poor Patio __Good __Fair __Poor Deck __Good __Fair __Poor Garage __1 Car __2 Car __3 Car __Good __Fair __Poor Roof Condition __Good __Fair __Poor Sidewalks __Yes __No Well-Mainteined Neighborhool __Yes

__Nonexistent __Nonexistent __Nonexistent __Nonexistent __Detached

Free eBooks for Free More eBooks Information for More Information

If you’d like to learnIfmore you’dabout like tothe learn FHAmore 203kabout loan program, the FHA 203k or credit loaninformation program, orfor credit buying information a for buying a home, or the mortgage home, process or theinmortgage general, we process offerin several general, freeweeBooks. offer several You can free click eBooks. one ofYou can click one of the pictures below to thefind pictures the eBook belowthat’s to find right thefor eBook you!that’s right for you!

__No

Interior Features

Free eBooks for More Information

Kitchen Size _________________________ Eat-In __Yes __No Flooring __Ceramic __Vinyl __Wood __Carpet __Good __Fair __Poor Appliances __Good __Fair __Poor __Nonexistent If you’d like to learn more about the FHA 203k loan program, or Cabinets __Good __Fair __Poor credit information for buying a home, or the mortgage process Windows __Good __Fair __Poor Free eBooks Free for More eBooks Information for More Information If you’d like to learnIf more you’dabout like tothe learn FHA more 203kabout loan program, the FHA 203k or credit loan information program, or for credit buying information a for buying a Dining Room Size _________________________ in general, we offer several free eBooks. You can click one of home, or the mortgage home, process or the in mortgage general, process we offerinseveral general, free weeBooks. offer several You can free click eBooks. one ofYou can click one of Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor the pictures below the to find pictures the eBook belowthat’s to find right thefor eBook you!that’s right for you! the pictures below to find the eBook that’s right for you. Light Fixtures __Good __Fair __Poor __Nonexistent Living Room Size _________________________ Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Fireplace __Good __Fair __Poor __Nonexistent Den Size _________________________ Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Linen Closet __Good __Fair __Poor __Nonexistent Total Bedrooms _____________ Bedroom 1 Size _________________________ Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent Closet __Good __Fair __Poor __Nonexistent NMLS ID 110139 NMLS ID 110139 AmeriFirst Home Mortgage AmeriFirst Home Mortgage 800.466.5626 800.466.5626 Bedroom 2 Size _________________________ Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor Light Fixtures __Good __Fair __Poor __Nonexistent For more than 25 years, AmeriFirst Home Mortgage has Closet __Good __Fair __Poor __Nonexistent Bedroom 2 Size _________________________ helped first time home buyers and other clients realize the Flooring __Hardwood __Carpet __Tile __Good __Fair __Poor dream of leaving that rental behind, and owning a house. Light Fixtures __Good __Fair __Poor __Nonexistent Closet __Good __Fair __Poor __Nonexistent Whether it’s HomePath, conventional lending, an FHA Total Bathrooms _____________ program, VA loan, Rural Development or a 203k mortgage Master Bath Size _________________________ Flooring __Ceramic __Vinyl __Wood __Good __Fair __Poor loan, the team at AmeriFirst is here to find the right mortgage Fixtures __Good __Fair __Poor NMLS ID 110139 for NMLS ID you. 110139 AmeriFirst Home Mortgage AmeriFirst Home Mortgage 800.466.5626 AmeriFirst is 800.466.5626 licensed in: Michigan, Minnesota, Tub __Good __Fair __Poor __Nonexistent Guest Bath Size _________________________ Wisconsin, Indiana, Illinois, Ohio, Kentucky, Tennessee, North Flooring __Ceramic __Vinyl __Wood __Good __Fair __Poor Carolina and Florida. There is sure to be an office near you. Fixtures __Good __Fair __Poor Tub __Good __Fair __Poor __Nonexistent Laundry Room Location _________________________ Washer __Good __Fair __Poor __Nonexistent Dryer __Good __Fair __Poor __Nonexistent Good Close Space __Yes __No The website: AmeriFirst.com

Let Us Know How We Can Help

We’re easy to find.

Basement __Yes __No __Finished __Carpet __Hardwood __Tile

Utilities

Type of Heating __Hot Water __Gas __Electric __Oil Insulation __Fiberglass __Cellulose __Foam __Nonexistent Central Air __Yes __No Plumbing Condition __Good __Fair __Poor Sump Pump/Drainage System __Yes __No Connected to Sewer System __Yes __No Age/capaciy of water heater _____________ Age of heating system _____________ Age of electrical wiring _____________

Easy proximity to: __Work __Schools __Highways

__Shopping __Churches

Recent Sales in neighborhood:

__Airport Area __Train Station

__ Industry __Doctor/Dentist __Public Transportation

Address____________________________________________ Size ____________ Price_______________ Address____________________________________________ Size ____________ Price_______________ Address____________________________________________ Size ____________ Price_______________

We’re on other social media sites as well.

See interviews with our team & other videos.

Read the blog & keep up with the industry.

Copyright Notice & Legal Notice ©2012 The AmeriFirst Home Mortgage Corporate Office 616 W. Centre Avenue Portage, 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.

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The Druids believed mistletoe possessed magical powers. Their priests cut the plant with golden sickles and gathered the trimmings on white cloth so the plant would never touch the earth and lose its enchantment. The French didnâ&#x20AC;&#x2122;t like it. They said mistletoe was cursed because it grew on the wood from which the cross of Christ was made and that it was doomed to be a rootless parasite forever. In the Middle Ages, mistletoe was hung from ceilings in Europe to ward off evil, or it was dangled over doors to prevent the entrance of witches. If mistletoe was suspended over a crib, the child was said to be safe from kidnapping. Viking lore describes the goddess of love, Frigga, who made each plant and animal promise not to kill her son Baldur. She forgot the mistletoe plant and Baldur was killed by a spear made from it. The white berries on the mistletoe are said to have been created from her tears. When her son returned to life, Frigga proclaimed the mistletoe to be sacred. She kissed everyone who passed under it and decreed the plant should henceforth bring love. This is said to be the origin of kissing under the mistletoe. So go ahead. Kiss under the mistletoe, have fun doing it, and give a nod to Frigga for starting a very enjoyable custom.

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