The Vendor is required to provide underwriting government-funded first-time homebuyer loans for program eligibility, including experience conducting income verification analyses.
- Proposer will review potential homebuyer applications for errors or omissions, coordinate any necessary follow up with applicants, screen applications for program eligibility, issue eligibility determinations, coordinate with homebuyers, property sellers, the city, first mortgage lenders, and escrow officers, and assist the city as required with requests for funds to the state.
- Up to forty (40) applications will be reviewed to ensure compliance with the city's established eligibility criteria.
1. Application completeness
• The proposer will verify that all required documentation has been submitted with the application, including but not limited to:
○ Application form
○ Proof of current income
○ Income tax returns
○ Asset account statements
• Applications must include signatures, dates, and any necessary disclosures as required by the city, state, or federal regulations.
2. Income eligibility
• The proposer will assess and determine income eligibility based on the following criteria:
○ Verification of household income to determine applicant's eligibility as a low- or moderate-income household.
○ Income calculations must comply with the city's program regulations and with the guidelines set by any relevant funding sources.
- Questions/Inquires Deadline: June 15, 2025