Pictured left to right; Barry Ramsey: Illinois Rural Development Housing Director, Melissa Jones: AVP of State Bank of Lincoln, Steve Aughenbaugh: President of State Bank of Lincoln

USDA Recognizes State Bank of Lincoln as Illinois top Guaranteed Rural Housing Lender in 2014

[March 17, 2015]  LINCOLN - State Bank of Lincoln was presented a plaque recognizing the bank as the #1 Approved Lender in Illinois during 2014. The bank originated over $20.8 million within the Single Family Housing Guaranteed Loan Program to assist moderate income homebuyers purchase their first home or upgrade to a better one.

State Bank of Lincoln has a history as one of the state’s top guaranteed housing lenders. They are one of more than 300 lenders in Illinois who participate in Rural Development’s home loan program. The agency’s loan guarantees make purchasing a home in non-metropolitan areas more affordable for borrowers.

Homebuyers who use a guarantee for their home loan are not required to make a down payment on their homes. Eligible applicants who use the guarantee are able to finance up to 100 percent of the home’s value at a competitive 30-year fixed interest rate. Another attractive feature of the program includes flexible credit guidelines and generous income limits.

State Bank of Lincoln is proud to help families strengthen rural communities by supporting this program and making homeownership easier than ever before. For additional information, please contact State Bank of Lincoln at: 217-735-5551.

Rural Development also provides financing and technical assistance to foster growth business development and critical community and technology infrastructure. More information on USDA Rural Development programs is available on the web at http://www.rd.usda.gov/il. USDA is an equal opportunity provider and employer.

[Annette Gettleman, State Bank of Lincoln]