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excluding seasonal shall be exempt requirement for IRCLHAProgram. Asset Verification or migrant farmworkers, from any employment participation in the Total assets of eligible persons applying to purchase a housing unit under, or occupy a housing unit assisted by, the IRCLHAProgram shall not exceed forty-five thousand dollars ($45,000.00) or fifty percent (50%) of the value of the purchase/sale price of the housing unit, whichever is greater. Pensions or other similar public or private deferred compensation funds which may not be converted to be available as cash funds, with or without incurring a financial penalty for early withdrawal of such funds, shall be excluded from consideration as a financial asset. Mortgage/Rent Verification The amount of monthly housing expenses paid by eligible persons for owner occupied or rental housing units assisted by the IRCLHAProgram shall be considered affordable as defined in Rule 9I- 37.002, FAC. Credit Verification Eligible persons receiving assistance from the IRCLHAProgram shall maintain a valid, satisfactory credit rating for a minimum of one (1) year prior to receiving any application approval for participation in the IRCLHAProgram. Eligible persons utilizing assistance from the IRCLHAProgram to purchase a new or existing housing unit shall not have owned or held title to a housing unit anytime within the three (3) year period prior to receiving any application approval for participation in the IRCLHAProgram. 5. Application Review Applications shall be reviewed by Community Development Department staff or the third party entity identified by contract to conduct application review activities for compliance with the criteria listed in the previous section. Those applications not satisfying the review