The USDA Rural Development has recently recognized First Community Credit Union (FCCU) as a top lender in the Guaranteed Rural Housing (GRH) loan program in North Dakota. In the past year, 61 approved lenders around the state participated in the GRH program and financed $58.2 million to assist rural residents achieve homeownership. Of that, First Community Credit Union financed $4.1 million in 38 loans.
"By partnering with local lenders, we are able to help more people buy their own homes," said Rural Development Acting State Director Bill Davis. "This is important as home ownership means long-term financial stability and security for rural families."
The GRH program is a federal program that is budget neutral. The program does not rely on tax dollars and is self-supporting through fees generated by the loans. The home loans are provided by private lending institutions and guaranteed by the federal government. The program features no down payment to eligible-income households and no maximum mortgage limits.� Dwellings must be in a rural community with a population of 35,000 or less.
The USDA Rural Development has recently recognized First Community Credit Union (FCCU) as a top lender in the Guaranteed Rural Housing (GRH) loan program in North Dakota. In the past year, 61 approved lenders around the state participated in the GRH program and financed $58.2 million to assist rural residents achieve homeownership. Of that, First Community Credit Union financed $4.1 million in 38 loans.
"By partnering with local lenders, we are able to help more people buy their own homes," said Rural Development Acting State Director Bill Davis. "This is important as home ownership means long-term financial stability and security for rural families."
The GRH program is a federal program that is budget neutral. The program does not rely on tax dollars and is self-supporting through fees generated by the loans. The home loans are provided by private lending institutions and guaranteed by the federal government. The program features no down payment to eligible-income households and no maximum mortgage limits.� Dwellings must be in a rural community with a population of 35,000 or less.