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the applicable financial institution shall -determine what type of home inspection is <br />needed. The financial institution shall arrange for the inspections through their <br />established procedures and shall be responsible for all approval contingencies. <br />For Purchase Assistance loans, the following inspections for all existing housing <br />units five years or older is required: <br />i. Termite Inspection <br />ii. Roof <br />iii. Plumbing system <br />iv. Electrical system <br />v. Heating and air conditioning system <br />All county required inspections must be performed by public service licensed <br />inspectors; registered or certified residential, building, or general contractors; or <br />licensed trade contractors as appropriate. Home inspection reports requested by the <br />county shall be reviewed by the county's building officials to determine the condition <br />of the home. <br />Based on the results of the home inspection review by the bank or the county, one <br />of the following three actions will be taken: <br />If the home is in good condition, the down payment/closing cost loan <br />application will be submitted to the loan review committee for approval; <br />ii. If the home needs some rehabilitation work and if the applicant is eligible to <br />receive a combination down payment/closing cost and rehabilitation loan, a <br />combined down payment/ closing cost and rehabilitation application will be <br />submitted to the loan review committee for approval; or <br />iii. If the home is in excessive disrepair and cannot be fixed, the loan application <br />will not be approved. <br />Home inspection charges are considered to be eligible closing cost expenses and <br />payable through SHIP funds. In cases where the county requests a home inspection, <br />but due to the condition of the home a down payment/closing cost loan cannot be <br />approved, the cost of the home inspection will be paid through the administration <br />portion of SHIP funds. <br />4. Application Review <br />Applications shall be reviewed by SHIP program staff or the third party entity identified <br />by contract to conduct application review activities for compliance with the criteria <br />listed in the previous section. Those applications not satisfying the review criteria shall <br />be classified as disqualified. Applications satisfying the review criteria shall be <br />submitted to the IRCLHAProgram Loan Review Committee (IRCLHAPRC) for final <br />review and approval of the application. <br />a. Disqualified applicants shall be informed of the areas causing denial of the <br />12 <br />/ <br />