From the December 15, 2011 edition of The Wayne Herald
Security National Bank honored by USDA Rural Development
Security National Bank was recognized in Laurel as a $1 million club leader in Fiscal Year 2011 for USDA Rural Development's guaranteed rural housing (GRH) loan program.
The GRH loan program continues to be extremely successful in Nebraska. Seventy-seven approved lenders participated in Fiscal Year 2011 providing more than $105.8 million, and assisting 1,122 rural Nebraska households to achieve homeownership. Demand for the USDA Guaranteed Rural Housing homeownership program continued to be strong in Fiscal Year 2011.
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.
Dwellings must be located in a rural community with a population of up to 20,000, and including Norfolk and Columbus.
Existing guaranteed or direct loan borrowers may refinance their home loans under GRH loan program to obtain a possible lower interest rate.
