Regulation .03 Eligible Property.

Be a residential property or type of property permitted under the Act;

Have clear and merchantable title acceptable to the Fund;

Conform to all applicable federal, State, and local building, zoning, environmental, health, and housing codes;

Be insured with hazard insurance issued by a company that is approved by the State Insurance Commissioner and, when applicable, flood insurance;

Have an appraised value that is satisfactory to the Fund; and

Meet any other standards of the Fund.