Midwest Bank Receives Top Ten Lender Honors from USDA Rural Development in 2018
YORK, NE - Midwest Bank was recognized recently by USDA Rural Development Nebraska as a Top Ten Lender (Ranking 7th) for the Fiscal Year 2018 USDA Rural Development’s Guaranteed Rural Housing (GRH) loan program. Midwest Bank delivered in excess of $2.6 million in home loans to allow 29 rural Nebraska families to “build a better future together.” Accepting the award on behalf of Midwest Bank were Nichole Runge (pictured at left) and Mike Gleason (pictured at center). Presenting the award was Karl Elmshaeuser (pictured at right) with USDA Rural Development.
In Fiscal Year 2018, 82 approved lenders participated in the GRH program and provided more than $102 million to assist 940 rural Nebraska households in achieving home ownership. The program assists first time home buyers and those who are seeking a different home because of changing family needs.
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 and homes must be located in rural areas. See http://eligibility.sc.egov.usda.gov/eligibility/ for eligible areas.
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 the program, contact your local Midwest Bank location.