Midwest Bank Receives Top Ten Lender Honors from USDA Rural Development
Midwest Bank was recognized recently by USDA Rural Development Nebraska State Director Maxine Moul as a Top Ten Lender (Ranking fifth) for the Fiscal Year 2015 USDA Rural Development’s Guaranteed Rural Housing (GRH) loan program. Midwest Bank delivered in excess of $3.8 million in home loans to allow 46 rural Nebraska families to “build a better future together.” Amy Schroeter, Assistant Vice President of Midwest Bank in Norfolk, accepted the award on behalf of Midwest Bank locations in Creighton, Deshler, Lincoln, Norfolk, Pierce, Pilger, Plainview, Wisner and York.
In Fiscal Year 2015, 75 approved lenders participated in the GRH program and provided more than $103 million to assist 1,030 rural Nebraska households in achieving homeownership. The program assists first time homebuyers and those who are seeking a different home because of changing family needs.
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 Midwest 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 eligible income households and no maximum mortgage limits. Homes must be located in rural areas. All communities in Nebraska are eligible for USDA Rural Development housing programs with the exceptions of Fremont, Grand Island, Hastings, Kearney, Lincoln, North Platte, Omaha and South Sioux City/Dakota City. 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.