Citizens Bank of Kansas N.A., Community Bank of the Midwest, Golden Plains Credit Union and Peoples Bank & Trust in McPherson are recipients of the USDA Guaranteed Rural Housing Program Outstanding Lender Award.
The award recognizes lenders who in partnership with USDA Rural Development have made a significant contribution in assisting rural Kansans with the financing and purchasing of a home. Awardees are being recognized for having the highest percentage of complete GRH applications turned into the Agency, as well as having less than three percent of first year home-loan delinquencies on GRH loans.
"USDA Rural Development has partnered with lenders across the state to assist thousands of rural Kansans achieve the dream of homeownership," stated USDA Rural Development State Director Patty Clark. "Providing excellent customer service and making quality loans are two critical elements for the Agency, and the awardees announced today exceed in both areas."
The GRH program assists homebuyers in obtaining a 30-year fixed-rate mortgage without the down payment typically required by conventional lenders and programs. GRH loans are financed through participating lenders, such as banks and credit unions, and are guaranteed by USDA Rural Development. The amount of the mortgage is limited by the applicant's repayment ability and can be made for up to 102 percent of the appraised value. There are no restrictions on the size or design of the home. Loan closing costs and repairs can often be financed with the home purchase.