Published on December 01, 2016
Written by The Servion Group
CU Companies has expanded its offering to help financial institutions provide even more options to borrowers living in rural areas. Beginning on December 1, partners of CU Companies’ correspondent and retail mortgage channels can offer eligible borrowers 100 percent home financing at competitive rates.
“With this addition to our already robust product offering we continue to help you and your borrowers have as many products available to help make homeownership possible,” said Bruce Goetsch, National Sales Manager for CU Companies. “We are excited to offer this very useful product to help financial institutions serve low- and moderate-income households.”
The new offering is made possible by the U.S. Department of Agriculture’s Single Family Housing Guaranteed Loan Program which can be used to finance an existing structure or a new home. Eligible borrowers can also refinance a loan, among other uses. (See USDA’s program page for more info.)