Bradford National Bank News Release
For Immediate Release
For more information, Contact Frank Joy
June 9, 2009
December 22, 2009
Bradford National Bank Gets Top Honor from USDA
Greenville, Ill., December 22, 2009 – Bradford National 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, Bradford National 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. Bradford National Bank provided 26 homebuyers with $2.4 million 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 Bradford National 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, Bradford National 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.
Bradford National Bank president Frank Joy said, “Our lending staff works hard to assist and accommodate customers who may qualify for the USDA program. In this down economy, it’s a testament to our staff and to our bank that we were able to once again achieve the goal as a million dollar lender.”
Information on eligibility for guaranteed home loan financing is available by contacting Terry Barth or Pennie Slatton at 664-2200. 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.
Janet Fauth, center, from the Rural Development office in Edwardsville, presents Terry Barth and Pennie Slatton with the 2009 Certificate of Excellence for lending practices.