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Mortgage Secured Loans

  • A mortgaged secured loan requires the availability of a Land asset to guarantee any loan under this product. The product loan proceeds cater for any Housing development on the land asset pledged to secure the loan. The Corporation can only finance any proposed development on the land up to 70% of the land value.
  • The maximum amount of borrowing under this product is up to $250,000.
  • Based on a point-scoring system assessment, the annual Interest rate varies from 8 to 11%. The minimum loan term is 15 years, but it can be extended to 25 years if necessary.

Personal Guarantee Loans

  • The Personal Guarantee Product caters to applicants who do not have any real assets to guarantee any loan from the Corporation. Under this product, the Corporation will accept the personal guarantees of a maximum of four (4) working family members, friends, spouses, employed children, or any person with a verified income. They provide the necessary guarantee for the recovery of loan funds should the borrower default on the loan repayments.
  • The maximum loan amount is $30,000, and it is repayable for a maximum term of five (5) years.
  • The current interest rate is 14% per annum, but it is subject to change based on the Board of Directors’ approval.

Land Finance Product

  • The Land Finance Product caters specifically for applicants who wish to buy freehold land for residential purposes. The land purchased from the loan will be held as the loan security through a legal mortgage charge over the land and any improvements thereon. The land has to provide adequate value to secure the total loan.
  • Under this product, a Land Equity of 30% (can be flexible) of the land price must be deposited with the Corporation as part of the applicant’s commitment towards the land cost. The equity payment will minimize the Corporation’s lending exposure and aim to assess the applicant’s level of commitment.
  • The maximum amount of borrowing under this product is up to $250,000.
  • The annual Interest rate varies from 8 to 11%, based on the Corporation’s point-scoring system assessment.
  • The minimum loan term is 15 years but can be extended to 25 years if necessary.


Rental Properties

  • The Samoa Housing Corporation’s rental arm began operations in July 2013 after the Government decided that these Government assets would yield better income if they were operated on a commercial framework.
  • The Corporation currently has 73 solid-structured houses that are being rented out on long term leases. These houses are located at the Vaiala Seafront, Taumeasina in Moata’a, Fagalii in the District of Vaimauga, and at the Motootua Centipede Alley opposite the National Hospital
  • Any Samoan citizen is eligible to apply for and occupy the rental units provided that they have the financial capacity to pay the monthly rent and the one-month (1) bond requirement.
  • The bond is refundable upon the termination of the Tenancy Agreement, but the refund is subject to the absence of any significant damages to the property and no rental arrears.