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Office of the Governor of Guam
Office of the Governor of Guam
07/18/2012 | Press release
NEWS: GHC Will Pay Closing Costs of First Home for Qualified Guamanians
distributed by noodls on 07/18/2012 03:35
Call GHC at 647-4143 for up to $10,000 assistance for mortgage fees, closing costs
FOR IMMEDIATE RELEASE
July 18, 2012
The dream of homeownership became reality for a tearful Jim Dimag who received a grant that is helping him purchase his first home today. Dimag, his wife and children, along with four other grant recipients got the help they needed to become Guam's newest homeowners during an emotional ceremony at Adelup.
Their dream is coming true because just as the Governor promised in Blueprint 2020, the government is providing grants to pay for closing costs on a first home.
"It's really hard for struggling families working toward purchasing a home. I'm so proud to stand with these families today. They worked so hard to make the dream of homeownership come true," Governor Calvo said. "The home is the center of every family and we are working to help everyone achieve the dream of owning a home. There are opportunities to help families of all walks of life and we're making sure that everyone can get the assistance they need to purchase a home."
The new homeowners are just the first to take advantage of the Guam Housing Corporation's First Time Homeowners Assistance Program that provides up to $10,000 for mortgage fees and closing costs for qualified applicants. These are critical - and arguably, cost prohibitive - expenses that have kept the dream of homeownership just out of reach for working Guamanians.
The FTHAP is made possible through the Housing Trust Fund Program. The $500,000 available for qualified mortgage applicants is locally funded through the Guam Housing Corporation.
"I'm proud to work with this administration in turning the affordable housing vision into a reality for our families," said Senator Tina Rose Muña Barnes, a partner in the governor's affordable housing vision. "It's about building dreams and giving families the opportunity - that little bit of extra help - to make it happen."
For more information on homeownership assistance programs, interested residents should call the Guam Housing Corporation at 647-4143.
Contact Natalie Quinata at 475-9309 or 488-6013 for more information.
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