Application Process Verbiage

1.  Initial Application

Property Owners should call 311 to receive more information on the application process.

2.  Home Inspection

If an applicant is found eligible per program guidelines a Construction Advisor will contact the client to schedule an initial home inspection. The inspector is to identify needed repairs in and outside the home, and can last up to 3 hours.

3.  Bidding Process

The Bidding process begins 20-30 days following the initial home inspection. The assigned Construction Advisor will invite City eligible Contractors to walk the property and submit their bids for repair work. The contractor submitting the most responsive bid will be selected to perform the needed home repairs. The process can take up to 7-10 business days.

4.  Loan Committee

Loan Committee is held once a month.  Loan Officers will schedule a preliminary meeting consisting of the client and Construction Advisor to discuss the scope of work and financial terms prior to presenting the case for approval. Loan Committee members make the final decision as to if a case is feasible and is permitted to move forward for repair.

5.  Loan Closing

Following Loan Committee approval the client will be scheduled to attend their Loan Closing. Loan Closings consist of the Homeowner, Contractor, and the Loan Officer. Loan closings provide all parties involved with another review of the scope of work, a breakdown of final repair cost and loan terms.

6.  Under Construction

The Contractor begins work on the home within 2 weeks following the Loan Closing. The duration of the construction is dependent upon the depth of the scope of work.  The construction of the home is monitored by the assigned Construction Advisor from beginning to end.

7.  Construction Complete

A final inspection of the property is conducted with the Homeowner and Contractor to ensure the scope of work is in fact complete. A final meeting is held with the Loan Officer and the client to go over all legal documents. All Warranty documents are presented to the client at this time, as well as information regarding the rehab warranty inspection that takes place at 12 months following completion.