The Virgin Islands Economic Development Authority (“USVIEDA”) through its subsidiary entity the
Economic Development Bank of the U.S. Virgin Islands (“EDB”) administers the VI Slice Moderate Income
Homeownership Program (“VI Slice”) in partnership with the Office of Disaster Recovery (“ODR”) and
lenders licensed in the U.S. Virgin Islands. EDB has received inquiries and concerns from the Territory’s
lenders about the VI Slice requirements of the Combined Loan-to-Value (“CLTV”) ratio of 95% and the
Debt-to-Income (“DTI”) ratio of 31%.

Upon consideration of these concerns and discussion with ODR, the VI Slice CLTV and DTI requirements
have been modified effective immediately.

  1. The maximum CLTV ratio has increased from 95% to 105%.
  2. The DTI ratio has increased from 31% to 36%.

These enhancements to VI Slice will further align the program with its purpose to accommodate a wider
cross-section of the demographic and stimulate economic growth through increased lending.

If under the previous CLTV and DTI stipulations there were marginal cases that were not submitted,
lenders with a fully executed VI Slice Memorandum of Agreement in place with USVIEDA are encouraged
to revisit said cases and submit them to USVIEDA/EDB for consideration.

USVIEDA is committed to its role of catalyzing the economic growth of the Territory and looks forward to
continued collaboration with our lending partners to achieve this goal. Should you have any questions
regarding this Notice, please contact Ms. Monique T. Samuel, Managing Director, Economic Development
Bank at 340.773.6499 or

Thank you for your support

Notice – VI Slice CLTV Modification