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b . Employment Verification <br /> Applicants seeking assistance from the IRCLHAProgram to purchase <br /> eligible housing units shall be eligible persons meeting one of <br /> the following employment criteria : <br /> i . Suitable documentation indicating current , continuous <br /> employment for a minimum of one ( 1 ) year ; or <br /> ii . Suitable documentation indicating current employment <br /> ( within twelve ( 12 ) months of an application submittal ) <br /> as a seasonal farm worker , with a minimum of two ( 2 ) <br /> consecutive years as a seasonal farm worker , whereby the <br /> first period of seasonal employment shall have been for <br /> the full duration of the season , and the second period <br /> shall have been for a minimum of one-half ( 1 / 2 ) of the <br /> current season , if the eligible person ( s ) may be <br /> classified as a seasonal farm worker ( s ) ; or <br /> iii . An eligible person ( s ) classified , as a person ( s ) with <br /> special housing needs , excluding seasonal or migrant <br /> farm workers , shall be exempt from any employment <br /> requirement for participation in the IRCLHAProgram . <br /> C . Asset Verification <br /> Total assets ( cash or non - cash items that can be converted to <br /> cash ) not including IRA , Keogh and similar retirement savings <br /> accounts of eligible persons applying to purchase a housing unit <br /> under , or occupy a housing unit assisted by , the IRCLHAProgram <br /> shall not exceed twenty thousand dollars ( $ 20 , 000 . 00 ) . Assets to <br /> be considered will be determined based on guidelines provided by <br /> the Florida Housing Finance Corporation ( a copy attached as <br /> exhibit G ) . <br /> d . Credit Verification <br /> 1 . Credit Requirement for Downpayment / Closing Costs Loans <br /> Eligible persons receiving assistance from the IRCLHAProgram shall <br /> maintain a valid , satisfactory credit rating for a minimum of one ( 1 ) <br /> year prior to receiving approval for any IRCLHAProgram application . <br /> For applicants applying for both SHIP funds and a loan from a financial <br /> institution , the applicable financial institution shall determine <br /> whether each applicant ' s credit is satisfactory based upon the <br /> applicable financial institution ' s credit standards . <br /> If for any reason a financial institution does not review the <br /> applicant ' s credit , county staff will assess each applicant ' s credit <br /> based upon the information provided in a credit report from one of the <br /> three national credit - reporting agencies . An applicant will be deemed <br /> to have satisfactory credit if the applicable credit report shows that , <br /> in the previous 12 months , the applicant had : <br /> - No more than ( 4 ) 30 day late payments <br /> No more than ( 1 ) 60 day late payment <br /> - No 90 day late payments <br /> - No more than 2 collections <br /> - No Collection or combination of collections more than <br /> $ 500 . 00 <br /> 34 <br />