Comunicados de Prensa

(Coamo, Puerto Rico - August 29, 2025) – The Secretary of the Department of Housing, Ciary Pérez Peña, and the Executive Director of the Housing Finance Authority (AFV), Ricardo Álvarez Barreto, finalized the signing of six mortgage closings this Thursday in the Villas de Coamo project.

“At the Department of Housing, we have undertaken the task of rehabilitating residential units that were in our project inventory, putting them up for sale at affordable and very attractive prices. In this way, low- and moderate-income families can benefit and realize the dream of purchasing their first property. Our priority has been to implement various initiatives to promote housing development in Puerto Rico, and we are beginning to see the fruits of these efforts,” said Pérez Peña.

Four of the people who acquired their properties were able to take advantage of the Direct Home Buyer Assistance (HBA) Program, subsidized by CDBG-DR funds. The five cases funded by the AFV benefited from a $23,600 discount provided by the Department of Housing through an Administrative Order using ARPA funds. In total, $144,800 was funded by the AFV, $149,800 came from HBA assistance, and $118,200 was reflected as a discount provided by Housing. The sixth buyer had a voucher from the Repair, Reconstruction, and Relocation (R3) Program and will finally have her new home after losing her house during Hurricane Maria.

“Following Governor Jenniffer González Colón's public policy of providing affordable housing to more Puerto Rican families, we continue to join forces related to residential projects. Specifically, for Villas de Coamo, we have 20 prospective applicants who have submitted pre-qualification funds and are being evaluated in our loan processing area, and eight prospective purchasers are being evaluated for pre-qualification in our offices. Likewise, the AFV already has 27 citizens with purchase agreements for this residential project and are in the mortgage process for final approval,” said Ricardo Álvarez Barreto, Executive Director of the AFV.

In addition to these mortgage closings, the AFV will be offering mortgage advisory services, pre-qualification, and follow-up on applications already underway for the project, all within the Villas de Coamo project facilities.