Existing Structure (only applicable to Title I)

Existing Structure (only applicable to Title I)

Existing Structure refers to a dwelling, including a Manufactured Home, which was completed and occupied at least 90 days prior to an application for a Title I Loan, or a nonresidential Structure that was a completed building with a distinctive functional use prior to an application for a Title I Loan. However, these occupancy and completion requirements shall not apply to: • Loans having a principal obligation of $1,000 or less; or • residential Structures which have been damaged by conditions determined by the President to warrant relief under the provisions of title 42, chapter 68, of the United States Code.