Maota Affordable Loan Project (MALP) - Development Bank of American Samoa

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Maota Affordable Loan Project (MALP)

Maota Affordable Loan Project (MALP) will improve access to stable and affordable housing for homeless individuals and/or for low to moderate-income level families or households. It will also support the development of affordable housing to increase the supply of affordable and high-quality living units

Home Loan (2 bedroom 2 Bath)

Loan Amount $55,000.00
Interest Rate Low-Income: 1.0%
Moderate Income: 2.0%
Loan Term 30 Years
Eligible Projects Home Loan

Home Loan (3 bedroom 2 Bath)

Loan Amount $65,000.00
Interest Rate Low-Income: 1.0%
Moderate Income: 2.0%
Loan Term 30 Years
Eligible Projects Home Loan

Home Repair Loan

Loan Amount $20,000.00
Interest Rate Low-Income: 1.0%
Moderate Income: 2.0%
Loan Term 30 Years
Eligible Projects Home Repair Loan

Eligible Beneficiaries

An American Samoa resident who is a U.S. Citizen, U.S. National or a legal Permanent Resident.
Must be at least 18 years of age with a source of income.
Must have been employed for one or more consecutive years.
Must meet the definition of low-income and moderate-income based on the definitions provided by the U.S. Department of the Treasury as Final Rule as an implementation of the Coronavirus State and Local Fiscal Recovery Fund (Final Rule/SLFRF).

Apply for a Loan Today!

For program availability and eligibility, please call our office: (684) 633-4031

DEVELOPMENT BANK

OF AMERICAN SAMOA

DEVELOPMENT BANK OF AMERICAN SAMOA

Serving the Community since 1969