Established guidelines for loans provided to homeowners who have received a free wind inspection through the My Safe Florida Home program and who meet the financial institution's credit requirements are:

1. The Annual Percentage Rate (APR) of loans made to support the program shall not exceed 10 percent. For variable rate loans made under the program, the initial rate shall be less than a 10 percent APR and annual increases shall not exceed 1 percent.

2. Lending partners may require the pledge of real estate or other collateral.

3. Mortgage origination fees may not exceed $150. (This limitation applies to loan origination costs. It does not include other fees such as appraisal fees and title insurance fees.) Loan origination fees for non-real estate loans may not exceed $50.

4. Lending partners shall offer loan terms of up to five years.

5. Lending partners shall apply normal credit standards to loan applications and they shall bear the risks related to loan defaults.

6. Loan disbursements by lending partners will be made payable to both the homeowner(s) and the contractor performing the mitigation to ensure that grant funds specifically are used for the work completed under the My Safe Florida Home program.