NEBRASKA USDA RURAL DEVELOPMENT ANNOUNCES TOP 10 LENDERS



Lincoln, Neb.-USDA Rural Development has announced its Top 10 approved lenders in lending activity for its Guaranteed Rural Housing (GRH) loan program in Nebraska for Fiscal Year 2013.   In Fiscal Year 2013, 74 approved lenders participated in the GRH program and provided more than $124.2 million to assist 1,241 rural Nebraska households in achieving homeownership.  This is a record year for USDA Rural Development housing programs in Nebraska, according to State Director Maxine Moul. 
 
The Top 10 Lenders include:
 
Charter West National Bank           180 Loans       $17,260,727
Pinnacle Bank                                     84 Loans       $  8,502,289
Platte Valley Bank                              69 Loans       $  7,034,002
Wells Fargo Bank N.A.                       56 Loans       $  6,063,347
Midwest Bank N.A.                             54 Loans       $  4,551,788
BankFirst                                             49 Loans       $  4,753,249
Farmers & Merchants Bank              45 Loans       $  4,807,229
First National Bank & Trust             43 Loans       $  4,283,250
Great Western Bank                           42 Loans       $  4,049,895
Cornerstone Bank                               37 Loans       $  3,587,495
 
These lenders will be recognized by Rural Development and will receive a plaque acknowledging their activity in the GRH program, which has fostered rural homeownership in the state. 
 
USDA Rural Development oversees a single family housing portfolio in Nebraska of more than $525 million, consisting of more than 7,600 loans that have maintained low delinquency rates.  Since 1992, USDA Rural Development and its approved lenders have invested more than $961 million in rural Nebraska for homeownership opportunities through the GRH program. 
 
The GRH program is a federal program that is budget neutral.  The program does not rely on taxpayer dollars to fund the program and is self-supporting through the fees generated through the loans.
 
Fiscal Year 2014 should be a strong year as well.  Moul said, "The guaranteed rural housing loan program is very solid.  Year after year we have assisted many individuals and families with the purchase of a home in rural Nebraska.  I encourage approved lenders to continue to use this program, helping even more Nebraskans to achieve homeownership."
 
Through the GRH program, loan funds are provided by private lending institutions and guaranteed by the federal government.  The program features no down payment to eligible income households and no maximum mortgage limits.  Dwellings must be located in a rural community with a population of up to 20,000.  The communities of Norfolk and Columbus also remain eligible through at least January 15, 2014, when the current Continuing Resolution for the federal budget expires. GRH loans in FY13 were processed in 78 out of the 93 counties in Nebraska.
 

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Topics : Business_Finance
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Locations : ColumbusLincolnNebraskaNorfolk
People : Maxine Moul




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