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f. Homebuyer Status <br /> Eligible persons utilizing assistance from the <br /> IRCLHAProgram to purchase a new or existing housing <br /> unit shall not have owned or held title to a <br /> housing unit anytime within the three (3) year <br /> period prior to receiving any application approval <br /> for participation in the IRCLHAProgram. <br /> g. Home Inspection <br /> For applicants applying for both SHIP funds and a <br /> loan from a financial institution, the applicable <br /> financial institution shall, based on its appraisal <br /> report and/or internal policy, determine what type <br /> of home inspection is needed. The financial <br /> institution shall arrange for the inspections <br /> through their established procedures and shall be <br /> responsible for all approval contingencies. <br /> For all other applicants, the county shall require <br /> a termite inspection for all existing housing units <br /> to be purchased with SHIP funds. The county shall <br /> also require the following inspections for all <br /> existing units five years or older to be purchased <br /> with SHIP funds: <br /> - Roof <br /> - Plumbing system <br /> - Electrical system <br /> - Heating and Air conditioning system <br /> All county required inspections must be performed <br /> by public service licensed inspectors; registered <br /> or certified residential, building, or general <br /> contractors; or licensed trade contractors as <br /> appropriate. Home inspection reports requested by <br /> the county shall be reviewed by the county's <br /> building officials to determine the condition of <br /> the home. <br /> Based on the results of the home inspection review <br /> by the bank or the county, one of the following <br /> three actions will be taken: <br /> - If the home is in good condition, the <br /> downpayment/closing cost loan application will <br /> be submitted to the loan review committee for <br /> approval; <br /> - If the home needs some rehabilitation work and <br /> if the applicant is eligible to receive a <br /> 44 <br />