YORK — Cornerstone Bank in York was recently recognized as a Top Ten Lender for the Fiscal Year 2017 for USDA Rural Development’s Guaranteed Rural Housing (GRH) loan program.
Cornerstone Bank delivered in excess of $2.9 million in home loans to allow 33 rural Nebraska families to “build a better future together.”
With guaranteed financing, private lending institutions provide the loans which are guaranteed by the federal government. The program features no down payment to eligible income households and no maximum mortgage limits. Homes must be located in rural areas. All communities in Nebraska are eligible for USDA Rural Development housing programs with the exceptions of Fremont, Grand Island, Hastings, Kearney, Lincoln, North Platte, Omaha and South Sioux City/Dakota City. See http://eligibility.sc.egov.usda.gov/eligibility/ for eligible areas.
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GRH loans have been processed in 71 out of the 93 counties throughout Nebraska. Existing guaranteed or direct loan borrowers may refinance their home loans under the GRH loan program to obtain a possible lower interest rate.
USDA is an equal opportunity provider, employer, and lender.
Cornerstone Bank is a $1.6 billion bank with 40 branches in 31 communities including: Albion, Aurora, Bartlett, Bradshaw, Central City, Clay Center, Columbus, Davenport, Edgar, Geneva, Glenvil, Grand Island, Guide Rock, Hampton, Harvard, Henderson, Hildreth, Marquette, McCool Junction, Monroe, Murray, North Loup, Polk, Rising City, Shelton, St. Edward, Stromsburg, Sutton, Waco, Wilcox and York. Cornerstone Bank is owned by First York BanCorp of York. Member FDIC. Equal Housing Lender.