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5 . The requirement for attending pre- purchase counseling ( if approved ) . <br /> 6 . Applicant' s household size and estimate of monthly income, with a <br /> statement that the income amount must be verified prior to the Applicant being <br /> approved for NSP3 assistance . <br /> 7 . An estimate of the amount ( or range of amounts ) and terms of <br /> Homeowner Financial Assistance that Applicant may qualify for, based on an analysis of <br /> Applicant' s financial and other data provided . <br /> 8 . A general description of an NSP3 buyer' s obligations for repayment of <br /> subsidies, and resale controls on homes sold ( if any) . <br /> During the intake interview or subsequent face-to -face meeting, a representative <br /> of the developer will review these disclosures with the Applicant and be available to <br /> answer questions about him . No application may be approved unless disclosures have <br /> been made as required . <br /> J . Notification of Approval or Denial <br /> Upon completion of the tasks described above, Developer will inform buyers in writing <br /> of their eligibility or ineligibility for NSP3 assistance, conditional upon completing <br /> homebuyer education and training, signing a purchase agreement for an NSP3 home, <br /> obtaining first mortgage financing, and providing the required minimum down payment <br /> amount . The written notification will include the amount — or range of amounts — of <br /> NSP3 financial assistance that buyers qualify for and preliminary disclosures of the terms <br /> of that financial assistance . <br /> K. Confidentiality of Client Data <br /> Developer will observe all Privacy Act requirements and keep client data in locked file <br /> cabinets or password - protected electronic files . <br /> XII . Homebuyer Counseling and Education <br /> A. Referral to Counseling and Education Program <br /> Upon notification of approval of an application for assistance, buyers will be referred to <br /> a HUD- approved program that offers at least eight hours of pre-purchase counseling <br /> and education . If buyers have already completed such a program , Developer must <br /> determine if the program meets Grantee and NSP3 requirements and must verify <br /> completion by obtaining and filing a certificate of completion . If the pre- purchase <br /> counseling and education does not meet requirements, buyers will have to complete <br /> training delivered by a HUD- approved counselor. <br /> 19 <br />