Casper, WY, Nov 10, 2010 -- November 10, 2010
Jan Hoskinson, Public Information Coordinator (307) 233-6705
USDA/RURAL DEVELOPMENT ANNOUNCES
TOP GUARANTEED HOUSING LENDERS
Casper, Wyoming - Derrel Carruth, State Director, announced today that USDA/Rural Development had a record breaking year in the Single Family Guaranteed Housing Program. During fiscal year 2010, Rural Development guaranteed 1,281housing loans in Wyoming. A total of $224,755,689 in guaranteed loans was made by forty-six approved lenders. Guaranteed loans are made to low and moderate-income households in small communities and rural areas.
For a second year in a row, First National Bank of Gillette topped the list of lenders making Rural Development Guaranteed housing loans. The bank assisted 224 individuals and families purchase homes totaling $51,815,196. The top ten lenders were determined by loan amount and included all participating bank branches. The top ten lenders each made more than six million dollars in Rural Development loan guarantees.
USDA Guaranteed Home Loans can be up to 100 percent of the appraised value or 103.5 percent if the guarantee fee is included in the loan. There is no down payment or mortgage insurance required. Loans are for a 30-year term and the interest rate is negotiated with the lender.
For additional information regarding income and property eligibility go to: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do or contact a mortgage lender.