State Bank of Lincoln recognized as a top lender
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[January 30, 2013]
CHAMPAIGN -- The State Bank of
Lincoln was recognized by USDA Rural Development for its
participation and strong support of the guaranteed rural housing
program. In fiscal 2012, the bank originated over $22 million in
loans offering a 30-year loan term and no down payment. These loans
had record-low fixed interest rates and were for home purchases as
well as refinancing loans already guaranteed by the USDA. This
figure is roughly half of the total volume of loans with the bank’s
participation through a statewide network of correspondent lenders.
"Recognizing the bank on this accomplishment is a way of saying
thanks on behalf of hundreds of families in small communities that
have now purchased a home of their own," said Colleen Callahan,
Rural Development state director. "The State Bank of Lincoln has
been a great partner to our agency."
USDA Rural Development
guaranteed more than $19 billion in mortgage loans for homebuyers in
rural America last year, setting a new record for the program, which
has been in existence since 1992.
Interested homebuyers can call the State Bank of Lincoln at
800-847-1536 or Rural Development at 866-481-9575 for more
information on the guaranteed rural housing loans.
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Rural Development has more than 40 programs that foster growth
and economic stability in rural areas by providing affordable
financing and technical assistance. In addition to housing, support
is available for regional food systems, broadband and biofuel
infrastructure, business development, and community needs. More
information on USDA Rural Development programs is available at
USDA Rural Development news release received
State Bank of Lincoln]