Applicant and Property Manager must take advantage of Property Management Training opportunities as they arise. Applicant and Property Manager must show participation in Neighborhood Watch Program. A credit check, employment and income verification, title search and verification of property insurance including fire and liability coverage are required as part of the loan application review. No minimum loan amount required No prepayment penalty Loans are due in full if property is sold or transferred to another owner. Eligibility and preliminary loan approval is determined.
Inspector conducts initial property inspection.
Code deficiency list and work write-up are completed. Specs, work write-up and costs are finalized. Budget and loan amount is determined. Loan Committee reviews loan package. City issues formal loan approval.