Leverage Loan Program

Rural Housing Loan Program

• Provide loans to assist eligible persons who will live in rural areas with an opportunity to own a home that would provide a decent, safe, and sanitary living environment for its occupants.

• Joint financing with Rural Development for a 100% financing with low interest rates. Term of loan is 33 – 38 years for RD financing. Construction of dwelling on Chamorro Land Trust property is also eligible (Dededo properties are ineligible under this program).


Eligibility Criteria:

I. A person who does not own a dwelling, or owns a dwelling which is not structurally sound or functionally adequate.

2. Be without sufficient financial resources and unable to secure necessary credit elsewhere to meet housing needs.

3. Must be a U.S. citizen or permanent resident alien.

4. Possess the legal capacity to incur the loan obligation.

5. Will personally occupy the home on permanent basis.

6. Acceptable Credit History.

7. Adequate and Dependable income sufficient to meet the following income to debt qualifying ratios:

  • a. Low income not to exceed PITI – 33%; TD – 41%
  • b. Very Low income not to exceed PITI – 29%; TD – 41 %

8. Adjusted annual income not exceeding the applicable Low Income Limits.