Processing Guidelines

  1. Preliminary Review: Application of Interest submitted by homeowner; city will notify those who do and do not pass preliminary review. Preliminary Review will verify that:
    • Home is located within Bremerton city limits based on Kitsap County Assessor's data
    • Requested rehabilitation activities appear to conform to Program Description (subject to professional inspection)
    • Preliminary Income information meets eligibility guidelines described in Program Description (subject to full credit review)
    • Application conforms with intent of Program to ensure basic housing needs of low and very-low income city residents
    • Request appears to fall within Program's funding capacity (subject to professional assessment)
  2. Application and Credit Review: Full Application (FNMA 1003) signed and submitted by homeowner. Incomplete applications will be returned. Applicant must provide information for all household members, to include but not limited to:
    • Proof of income (pay stubs from most recent 2 months, retirement, disability, social security award letters, etc)
    • Most recent complete Federal Income Tax Return
    • Copy of current Homeowner's Insurance
    • Verification of mortgage balance
    • Last 2 months of all bank statements -- checking, savings and any other
    • Verification of any additional sources of income such as child-support, alimony, etc.
    • Complete copy of Divorce Decree including Parenting Plan, Order of Child Support (if collected by Office of Support Enforcement request 12 month printout or 12 months' cancelled checks, if applicable)
    • Copy of Tri-Merge credit report -- city will request on homeowner's behalf
  3. Applications passing application and credit review will be notified and an initial property inspection will be scheduled.
  4. Property inspection: includes, but not limited to, work write-up, assessment of needed repairs, time/cost estimates, lead paint assessment, estimate of homeowner displacement
  5. Homeowner receipt of Lead Pamphlet; receipt of homeowner acknowledgement form
  6. Final application approval/denial
  7. Preliminary loan documents drawn based on construction cost estimate; promissory note and second deed of trust drawn, signed
  8. Contractor bid solicitation (third party only -- no self contracting allowed); construction contract signed
  9. Notice to Proceed
  10. Ongoing project management facilitated by city selected Construction Manager
  11. Final punch list, inspection and construction close-out -- within 4 months of Notice to Proceed unless otherwise specified in contract
  12. Finalize loan documents, promissory note, and second deed of trust updated with actual loan amount and re-sign if necessary; record with County Auditor