U.S. Dept. of Agriculture: Announces Community First Bank as an approved lender

CONTACT:
Kelly Edwards, Public Information Coordinator

Cell: 715-340-1264

kelly.edwards@wi.usda.gov


Affordable USDA Home Financing Now Available From Community First Bank

STEVENS POINT, WI,
July 8, 2010
– The U.S. Department of Agriculture (USDA) Rural Development Wisconsin State Director, Stan Gruszynski, announced the approval of
Community First Bank as a Guaranteed Rural Housing (GRH) lender, today.

“We welcome
Community First Bank to our growing list of approved lenders offering GRH financing and we look forward to this new partnership – working together to make the dream of homeownership possible for all rural Wisconsin residents,” said Gruszynski. “Building partnerships is a great way for our agency to meet the challenges faced as we work to increase home ownership and other opportunities in rural America,” he added.

The GRH program assists low to moderate income homebuyers in obtaining a 30 year fixed rate mortgage without the down payment or monthly mortgage insurance typically required by conventional lenders. Home mortgages can be made for up to 102 percent of the dwelling’s appraised value and in some cases, may include closing costs and necessary repairs.

Last year, over 1390 Wisconsin families became homeowners using the GRH loan program. Eligible areas include rural regions and communities under 20,000 in population, and not part of a larger urban area.

Community First Bank will make this affordable home financing option available in Southwestern Wisconsin through its offices in Baraboo, Richland Center, Muscoda, Boscobel, and Reedsburg, WI. They can be contacted at
608-524-5395
or by visiting www.cfbank.com for more information.

USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. This past year, USDA Rural Development returned over $547 million to rural Wisconsin communities. The funding supports a wide variety of loan, guaranteed loan and grant programs to rural residents in the areas of housing, community facilities, business development, infrastructure, and other development needs. Further information on USDA Rural Development programs is available by visiting USDA’s website at
http://www.rurdev.usda.gov/wi
. USDA Rural Development is an equal opportunity provider, employer and lender.