(a) The applicant shall be a full or part-time (minimum 20 hours per week) non-probationary employee, as defined herein, but not a temporary or seasonal employee, at the time of application for the grant of a secured loan.
(b) The applicant shall not own another dwelling or real estate in Loudoun County or elsewhere at the time of application for the grant of a secured loan.
(c) The applicant shall not have been a resident of Loudoun County during the 12 months preceding the date of application for the grant of a secured loan; provided, however, this restriction shall not apply to a Loudoun County resident who is a first-time home buyer.
(d) Only one application for a grant of a secured loan per household may be considered, regardless of the eligibility of other members of the household.
(e) The applicant shall identify in the application the dwelling the applicant intends to purchase.
(f) If the assessed value of the identified dwelling exceeds four hundred eight thousand one hundred dollars ($408,100) the application will not be considered.
(g) The applicant's ownership interest in the dwelling the applicant intends to purchase shall be equal to or greater than 50%.
(h) Such other criteria as the County Administrator or designee deem consistent with the purposes of this chapter.
(Ord. 09-13. Passed 7-21-09.)