Lincoln, Nebraska, Feb 12, 2010 -- USDA Rural Development Nebraska State Director Maxine Moul recognized TierOne Bank and Wells Fargo Bank N.A. in Lincoln, Neb. today as two of the top Nebraska lenders in Fiscal Year 2009 for Rural Development’s guaranteed rural housing (GRH) loan program. TierOne Bank provided nearly $6.6 million and Wells Fargo Bank N.A. provided nearly $2.8 million, which fostered rural homeownership in the state.
The GRH loan program continues to be extremely successful in Nebraska. Seventy-six approved lenders participated in Fiscal Year 2009 providing more than $93 million, and assisting 1,102 rural Nebraska households to achieve homeownership. Demand for the USDA Guaranteed Rural Housing home ownership program continues to be strong in Fiscal Year 2010.
Nebraska State Director Maxine Moul, USDA Rural Development said, "USDA Rural Development and Nebraska approved lenders have partnered for many years, making this program such a success. Another active year is anticipated and we look forward to helping more rural Nebraskans to achieve the dream of homeownership. I wish to thank TierOne and Wells Fargo for their dedication in using the program.”
With guaranteed financing, private lending institutions provide the loans which are 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, and including Norfolk and Columbus.
Existing guaranteed or direct loan borrowers may refinance their home loans under the GRH loan program to obtain a possible lower interest rate.
For additional information on becoming an approved lender or for applying for a guaranteed home loan, contact Delbert A. Virchow at firstname.lastname@example.org, (402)-423-9683 ext. 130, 8000 South 15th Street, Suite E, Lincoln NE 68512. Visit www.rurdev.usda.gov/ne.