VETERAN'S ADMINISTRATION / CHAMORRO LAND TRUST
LOAN PROGRAM
VA Eligibility Requirements: (Preliminary Qualification w/ GHC)
- Lease Agreement with Chamorro Land Trust (Recorded)
- VA Certificate – DD214 (Original Document)
- Eligibility Certificate (From VA)
- Site Plan and Infrastructure (Water/Power) (Recorded)
- Maximum Loan Amount $120,000.00
- Interest Rate @ 6.25% for 30 years, Subject to change by VA Office
Type of Loan
Construction: (Required documents from Contractor)
- Construction
- Set of Blue Prints (House Plans)
- Contractor’s License
- Tax Clearance
Items necessary for processing of application.
- Application
- Credit Authorization
- Verification of Employment
- Financial Statement
- Verification of Deposits
- Two (2) years Tax Return (Current)
- Two (2) most current Check Stubs
- Memorandum of Lease
- Guaranty
* Loans under this program are Direct Loans from the U.S. Veterans Affairs Office. The Guam Housing Corporation’s role is to perform loan packaging and disbursement of funds.
|
