 "The State Bank of Lincoln has demonstrated its commitment to
helping borrowers afford their first home or upgrade to a better
home," said Kim Allen, a Rural Development specialist in the
agency's Jacksonville office. "We are extremely pleased with State
Bank of Lincoln's achievement. Their commitment to helping borrowers
get a loan they can afford for a house they really want is not only
good for the borrowers; it's good for the local economy, too."
State Bank of Lincoln used Rural Development's guarantee to generate
more than $10.5 million in affordable home loans this year. With the
Rural Development guarantee, State Bank of Lincoln can offer 100
percent loans with no required down payment, no private monthly
mortgage insurance, no maximum purchase price, competitive fixed
market rate interest and 30-year terms. The program includes
flexible credit guidelines and generous income limits.
Information on eligibility for guaranteed home loan financing is
available by contacting State Bank of Lincoln at 217-735-5551. State
Bank of Lincoln has been originating Rural Development loans since
1991 and was the first approved lender in Illinois when the program
started.
[Text from
USDA Rural Development in
Illinois file received from
State Bank of Lincoln]
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