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Follow on Google News | USDA Celebrates 25 Years of Guaranteed HousingThe USDA marks it's 25th year of its low interest, zero down payment guaranteed housing program by recognizing top lending partner Major Mortgage
By: USDA "In Fiscal Year 2015, Major Mortgage was our top producing lender in Mesa County, funding nearly 30% of the guaranteed loans in the county for over $6.6 million," said Trudy Kareus, USDA Rural Development Colorado State Director. Two of their recent customers were Nate and Mary Rayer, who had been living in a rental trailer with their two children prior to purchasing their first home. "Eli, our youngest, was sleeping in our room and Ezekiel, our four-year old, had his own room basically the size of a small closet," said Mary Rayer. "Having a home with enough room for our growing family was important to us." They worked with Dave Shepard, Senior Loan Originator from Major Mortgage, to prequalify for a USDA guarantee loan, and with Dani Wright from Hummel Realty, to find the right property. Once they heard about a remodeled home in their desired neighborhood, they were able to look at it before it went on the market and had a contract within 24 hours. "Now we have a big fenced yard for the kids and our dog to play in, and each of our sons has their own room. It's perfect," Mary Rayer raved. USDA's guaranteed housing program offers borrowers a zero down payment, fixed interest rate loan for 30 years. USDA provides lenders participating in the program a 90 percent loan guarantee to offset their risk, making it possible for lenders to make more loans. "The USDA guaranteed loan program provides homeowners the opportunity to purchase more for their money. It's a win-win for the homeowner and for Major Mortgage," said Shepard. Since 2009, nearly 11,000 rural Coloradoans have used USDA's guaranteed loan program to purchase a home, many for the first time. "Homeownership confers many benefits, not the least of which are the ability to build equity over time while developing closer ties to one's community. It's an important tool in our efforts to help rural communities become more resilient, successful and viable," said Kareus. End
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