To avoid unnecessary delays, recheck all packets before transmittal to SADA for processing. If, after issuing a commitment, the purchaser changes mortgage companies, we require a letter of transfer and a revised Good Faith Estimate from the new company. Should the purchaser change properties, a new package must be submitted to include all the items outlined above. In some instances, the appraised value of the home will not support the loan. Upon receipt of a complete HIP packet, SADA begins processing the request for assistance.
Packet is reviewed to ensure completeness and accuracy.
Compute the amount of HIP assistance. Certain ERR results may have a negative impact on SADA's ability to provide assistance. SHPO must concur with the repairs and may specify materials to be used or methods employed to effect the repairs. If the property is located in an historic district, the SHPO and the City Historic Review Officer must concur. If the purchaser still wishes to purchase the structure, the purchaser will be asked to sign an acknowledgement and request for waiver to purchase the structure in its present condition.