(Godfrey, IL - December 15, 2009) � Pulaski Bank was recognized as one of the state�s top lenders in utilizing guaranteed home loans to make home purchases more affordable in rural Illinois. The US Department of Agriculture Rural Development annually honors lenders that excel in using the federal agency�s guaranteed loan program to increase home ownership.
�In this difficult housing market, Pulaski Bank committed to using Rural Development�s guaranteed home loan program to help as many homebuyers as possible,� said Janet Fauth, a Rural Development specialist in the agency�s Edwardsville office. Pulaski Bank provided homebuyers with $2.7 million in Rural Development backed home loans this year.
�They helped borrowers buy their first homes or upgrade to better homes,� said Janet Fauth, Area Specialist. �We are extremely pleased with Pulaski Bank�s achievement. Homeownership is a key indicator of community stability, and their willingness to extend affordable credit that helps homebuyers purchase the home they want, also benefits the community.�
With the Rural Development guarantee, Pulaski Bank can offer 100 percent loans with no required down payment, no private monthly mortgage insurance (PMI), no maximum purchase price, competitive fixed interest rates, 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 Debbie Higgins at 618-467-5626. The Guaranteed Rural Housing program is administered through the Rural Development office located in Edwardsville. They can be reached at (618) 656-7300 ext. 4. USDA is an equal opportunity lender, provider, and employer.
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