1. HUD Owned Properties

2. What is a HUD Home? An FHA insured home that has been foreclosed on. HUD has become the property owner and offers the home for resale (Often at a lower than appraised price) to recover losses.

3. Where Can I Find a HUD Home for Sale? A HUD home can be found online

4. Special Offers HUD generally offers homes to owner occupants for 15 days before investors can bid HUD’s goal is to encourage individual home ownership HUD’s Good Neighbor Next Door program offers some properties at 50% off sales price to public employees

5. HUD Determines What Type of Loans are Available: Insured 203 (b)- Regular FHA loan Insured 203 (b) escrow- This means there is money required to be escrowed for repairs 203 (k) This is FHA’s rehab loan. Finance the property PLUS the repairs Conventional/Other-You do not have to use FHA to buy a HUD home

6. Notes About FHA Financing: All 203 (B) loans use HUD’s existing appraisal, which means If you bid more than the appraised value, you must pay the difference in cash You must complete any required repairs in HUD’s Property Condition Report (PCR)

7. How Can I Make a Bid? Any Real Estate Broker registered with HUD can submit an offer on a HUD home HUD answers all bids electronically and contracts are only done AFTER the bid is accepted

8. CALL TODAY Where can I get pre-approved to buy a HUD home? Grand Junction: 970-242-7000 Montrose: 970-252-7395 Steamboat Springs: 970-761-2245

9. COMPLIANCE Equal Housing Lender. This is not a commitment to lend or extend credit. Restrictions may apply. Rates may not be available at time of application. Information and/or data are subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Bay Equity LLC, 100 California Street Suite 1100, San Francisco, CA 94111-4561; NMLS ID#76988. Loans will be made or arranged pursuant to Department of Business Oversight California Finance Lenders Law License #605-3919; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act- #4150077; Arizona Mortgage Banker License #0910340; Hawaii Mortgage Loan Originator Company License #HI-76988; MBL-7852 Idaho Mortgage Lender Broker License; Montana Mortgage Lender License #76988; Nevada Mortgage Broker License #3918.; New Mexico Lender License #76988; Oregon Mortgage Lender License #4845; Texas SML Mortgage Banker Registration #76988; Utah DRE Mortgage Entity #7953347; Washington Consumer Loan License #CL-76988; NMLS ID#76988; Colorado Mortgage Company Registration #76988. Regulated by the Colorado Division of Real Estate. To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm www.dora.state.co.us/real-estate/index.htm Texas Mortgage Banker Disclosure: http://bayeq.com/forms/linked-documents/Pursuant-1.pdfhttp://bayeq.com/forms/linked-documents/Pursuant-1.pdf NMLS consumer access: www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/76988www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/76988 BEHL-140401-8.0