Laserfiche WebLink
migrant farmworkers , shall be exempt from any <br /> employment requirement for participation in the <br /> IRCLHAProgram . <br /> C . Asset Verification <br /> Total assets ( cash or non - cash items that can be <br /> converted to cash ) of eligible persons applying to <br /> purchase a housing unit under , or occupy a housing <br /> unit assisted by , the IRCLHAProgram shall not <br /> exceed ten thousand dollars ( $ 10 , 000 . 00 ) . Assets <br /> to be considered will be determined based on <br /> guidelines provided by the Florida Housing Finance <br /> Corporation ( a copy attached as exhibit D ) . <br /> d . Mortgage Verification <br /> The amount of monthly housing expenses paid by <br /> eligible persons for owner occupied housing units <br /> assisted by the IRCLHAProgram shall be considered <br /> affordable as defined in Rule 67 - 37 . 002 , FAC . <br /> e . Credit Verification <br /> 1 . Credit Requirement for Downpayment / Closing <br /> Costs Loans <br /> Eligible persons receiving assistance from the <br /> IRCLHAProgram shall maintain a valid , satisfactory <br /> credit rating for a minimum of one ( 1 ) year prior <br /> to receiving approval for any IRCLHAProgram <br /> application . <br /> For applicants applying for both SHIP funds and a <br /> loan from a financial institution , the applicable <br /> financial institution shall determine whether each <br /> applicant ' s credit is satisfactory based upon the <br /> applicable financial institution ' s credit <br /> standards . <br /> For owner financing loans , county staff will assess <br /> each applicant ' s credit based upon the information <br /> provided in a credit report from one of the three <br /> national credit reporting agencies . An applicant <br /> will be deemed to have satisfactory credit if the <br /> applicable credit report shows that , in the <br /> previous 12 months , the applicant had : <br /> No more than ( 4 ) 30 day late payments <br /> No more than ( 1 ) 60 day late payment <br /> No 90 day late payments <br /> - No more than 2 collections <br /> No Collection or combination of collections <br /> more than $ 500 . 00 <br /> 54 <br />