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Table of contents
Table of contents
Table of contents
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HB-1-3550 CHAPTER 5: PROPERTY REQUIREMENTS 5.1 INTRODUCTION Ensuring that the quality and the value of the property meet certain minimum thresholds is as important as ensuring that the applicant is willing and able to repay a loan. The Agency imposes quality and value requirements to protect the borrower’s interest and, in the event of liquidation, the Agency’s interest. A.Overview of Property Requirements1.Ensuring QualityFour sections of this chapter deal with quality assurance. Section 1 describes therequirements for approving a site -- its location, its size and amenities, and the adequacy of available utility systems. Section 2 describes requirements for the dwelling itself, which must be modest, but also decent, safe, and sanitary. The standards that apply differ somewhat depending upon whether the dwelling will be newly constructed or is an existing home. Section 3 describes the Agency’s requirements for the protection of environmental resources and the due diligence required wi...