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Based on the results of the home inspection review by the bank or <br />the county, one of the following three actions will be taken: <br />- If the home is in good condition, the downpayment/closing cost <br />loan application will be submitted to the loan review <br />committee for approval; <br />- If the home needs some rehabilitation work and if the <br />applicant is eligible to receive a combination <br />downpayment/closing cost and rehabilitation loan, a combined <br />downpayment/ closing cost and rehabilitation application will <br />be submitted to the loan review committee for approval; or <br />- If the home is in excessive disrepair and cannot be fixed, the <br />loan application will not be approved. <br />Home inspection charges are considered to be eligible down -payment <br />/closing cost expenses and payable through SHIP funds. In cases <br />where the county requests a home inspection, but due to the <br />condition of the home a downpayment/closing cost loan cannot be <br />approved, the cost of the home inspection will be paid through the <br />administration portion of SHIP funds. <br />4. Application Review <br />Applications shall be reviewed by Community Development Department <br />staff or the third party entity identified by contract to conduct <br />application review activities for compliance with the criteria listed <br />in the previous section. Those applications not satisfying the review <br />criteria shall be classified as disqualified. Applications satisfying <br />the review criteria shall be submitted to the IRCLHAProgram Loan Review <br />Committee (IRCLHAPRC) for final review and approval of the application. <br />a. Disqualified applicants shall be informed of the areas causing <br />denial of the submitted application and be encouraged to correct the <br />reasons for denial if possible and then reapply. <br />b. Applicants approved for participation in the IRCLHAProgram shall be <br />issued a Notice of Commitment (eligibility letter) indicating that <br />the applicant has qualified for participation in the IRCLHAProgram; <br />this notice shall also. indicate the award type and the amount of the <br />award. The Notice of Commitment shall be valid for a maximum of <br />ninety (90) working days. The applicant must obtain a written <br />extension letter to maintain the Notice of Commitment beyond the <br />ninety (90) day maximum. <br />35 <br />