Direct Loans to Veterans

To assist in the housing needs of voting residents of Guam who are veterans of the Armed Forces of the United States, who served during the Second World War, during the Korean Conflict, or during the war in Vietnam, and who were honorably discharged from service, the Housing Corporation may make direct loans to such veterans.

(a)Such loans shall be made from the Housing Corporation’s Guarantee Fund and upon such terms and conditions and under such rules and regulations as the Board may prescribe. COL9/7/2021 CH. 4 GUAM HOUSING CORPORATION

(b)It is the intent of the Legislature that such loans may be made to such veterans whether or not adequate financing is available on reasonable terms from a lending agency.

(c)No loan in excess of Sixteen Thousand Dollars ($16,000) shall be made for the construction of a new home provided that up to Two Thousand Dollars ($2,000) of such amount may be used to purchase a homesite.