During a recent first time visit to Guam, USDA Rural Development Rural Housing Service Administrator Joaquin Altoro was having dinner along with RD staff at a restaurant in Tumon Bay where Cely Valencia works as senior supervisor.

She learned that all at the table work for Rural Development, and she shared that she was able to get her home through the Section 502 Direct Loan Program, which assists low-and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas. 

Five years ago, homeownership became a reality for Valencia. “I’ve always dreamt of owning my own home. My family and I have been renting since we came to Guam, so having a house is a dream. My family and I moved into our new home in the village of Dededo on June 13, 2019. The Rural Development 502 loan aids those who are looking to become homeowners who are in the working class, and can’t afford to pay a downpayment,” Valencia said.

She encourages those who may be having trouble buying a home to apply through the program. “I highly suggest you apply for USDA! If you have a dream or strive to own your own house, this is the program for you. They ensure that you secure a safe and affordable house. This program has low interest, 100% financing, and is a great steppingstone in becoming a homeowner,” added Valencia.

According to Altoro the program is much more than simply providing shelter. “Most people understand the tangible benefits of having a literal roof over your head. However, it’s the intangible benefits that we rarely acknowledge. The feelings of safety that affordable housing provides, growing up in a neighborhood where you know that have equal ownership, the advancement opportunities realized by the wealth created by homeownership, and so much more,” Altoro said.

As for Guam and other islands in the region, the various programs provide an important option for those who need assistance in increasingly expensive housing markets. “Those of us who don’t live in the Western Pacific, we view the Western Pacific islands as very remote. There is some truth to that statement. Accessibility, density, affordability, and supply of housing are all significantly affected due to the remote nature of the islands. We, collectively, must take this into consideration as we think about future partnering for economic growth and prosperity,” said Altoro.

Altoro added that it was an emotional experience for all to meet Valencia. “It was equally an emotional moment for the both of us. When Cely approached me with her very personal 502 Homeownership story, she did it with tears of joy. I had to hold back my tears because it reminded me of my mother and her ability to safely and affordably house me and my sister. I will forever remember Cely and her story,” Altoro concluded.

Among those there that evening was Western Pacific Area Director Joe Diego. According to Diego, Guam’s rural residents greatly benefit from RD housing programs. “This program is very important for the Island of Guam as it allows many families the opportunity to realize their dream of becoming first-time homeowners by providing 100% financing and zero down payment to purchase or construct a home while providing an affordable mortgage payment to eligible families.”

Seeing firsthand how RD helps people never gets old according to Diego. “Despite the number of RH 502 loans approved by our office, I never tire from hearing how our housing programs have had a positive impact on the quality of life for families. In Cely’s case, as a single mother at the time, she was able to put a roof over her head for her and her children when no other housing program could assist her,” Diego said.

“To see her get emotional five years later is a testament to the lasting and positive impact USDA has had in assisting the very low to low-income families become first-time homeowners,” added Diego.

As for Valencia, she was delighted to share her story with RD staff. “I was overwhelmed and happy that they got a chance to visit me. It was such an honor to meet who was behind the scenes in making my dream happen,” concluded Valencia.

For more information about the program, visit Single Family Housing Direct Home Loans | Rural Development (usda.gov)

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