PACKAGING FOR VA LOAN

NATIVE AMERICAN/ CHAMORRO LAND TRUST RECIPIENTS ONLY

VA Eligibility Requirements: (Preliminary Qualification w/ GHC)

1.  Lease Agreement with Chamorro Land Trust (Recorded)
2.  VA Certificate – DD214 (Original Copy)
3.  Eligibility Certificate (From VA)
4.  Site Plan and Infrastructure (Water/Power) (Recorded)
5.  Maximum Loan Amount $625,500.00
6.  Interest Rate @ 3.5%, Subject to change by VA Office

Type of Loan

Construction: (Required documents from Contractor)

1.  Construction
2.  Set of Blue Prints (House Plans)
3.  Contractor’s License
4.  Tax Clearance

Items necessary for processing of application.

1.  Application
2.  Credit Authorization
3.  Verification of Employment
4.  Financial Statement
5.  Verification of Deposits
6.  Two (2) years Tax Return (Current)
7.  Two (2) most current Check Stubs
8.  Memorandum of Lease
9.  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.