Grand Island, Nebraska, Dec 14, 2011 -- Charter West National Bank was recognized today in Grand Island, Nebraska for being the Top Lender with the delivery of more than $14.2 million for home loans in Fiscal Year 2011 for USDA Rural Development’s guaranteed rural housing (GRH) loan program. The dollars delivered in home loans through this program foster rural homeownership in the state, said Maxine Moul, Nebraska State Director for USDA Rural Development in making the presentation to the bank. Charter West National Bank of Columbus has branch locations in Lexington and Grand Island that joined to earn the Top Lender award.
The GRH loan program continues to be extremely successful in Nebraska. Seventy-seven approved lenders participated in Fiscal Year 2011 providing more than $105.8 million, and assisting 1,122 rural Nebraska households to achieve homeownership. Demand for the USDA Guaranteed Rural Housing homeownership program continued to be strong in Fiscal Year 2011.
Moul said, "We appreciate the Nebraska approved lenders, our partners, who make this program such a success. We anticipate another active year and we look forward to helping more rural Nebraskans to achieve the dream of homeownership. I wish to thank Charter West National Bank 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 moderate income households and no maximum mortgage limits. Low income households not qualifying for guaranteed financing may be eligible for financing assistance through the direct housing loan program. 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 locating an approved lender or for applying for a guaranteed or direct home loan, contact the Kearney USDA Rural Development office at (308) 237-3118. Visit www.rurdev.usda.gov/ne.