A Local Lender Leads the Way on Getting Mainers into Homes
BANGOR, Maine, June 28, 2022 – During June National Homeownership Month, USDA Rural Development Maine State Director Rhiannon Hampson is recognizing Maine’s top residential lending partners.
Through USDA Rural Development’s Single Family Housing Guaranteed Loan Program the following lenders are being recognized as 2022 Top Lenders for helping create homeownership in Maine:
- 2022 Gold Lender of the Year: Bangor Savings Bank assisted 166 families
- 2022 Silver Lender of the Year: CMG Mortgage, Inc assisted 138 families
- 2022 Bronze Lender of the Year: Machias Savings Bank assisted 135 families
USDA Rural Development Maine State Director Rhiannon Hampson said, “These lenders helped Rural Development to “welcome home” more than 400 Mainers in 2021. The benefits of the loans made reach far beyond a single family; they are investments in the future of our rural communities. Keeping children in their schools, Mainers close to their jobs, and extended families together in shared hometowns – this is the work we celebrate today as we recognize our top lending partners. We are in good company as we work to help Mainers prosper and realize the goals of the Biden-Harris Administration’s Housing Supply Action Plan.”
The Single-Family Housing Guaranteed Loan Program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing. There is no down payment required for applicants who qualify. The program helps protect the lender from risk, providing a 90% loan note guarantee to approved lenders.
For more information about how you can become a homeowner through USDA Rural Development’s housing programs, contact sfhgld.program@usda.gov.
Bangor Savings Bank has been investing in local communities since 1852 with 54 retail branch locations in communities across Maine, and approximately 950 employees across the organization. Their mission is to serve and meet their customer’s needs while building genuine relationships that will last for generations. Contact Bangor Savings Bank at 877-226-4671 for more information on how to become a homeowner.
CMG Mortgage, Inc has been investing in communities nationwide since 1995 with six branch locations consisting of approximately 16 employees total in communities across Maine. Their mission is to deliver the right loans, for the right reasons, in a way that exceeds all expectations. Contact CMG Mortgage, Inc at 833-362-0619 for more information on how to become a homeowner.
Machias Savings Bank has been investing in local communities since 1869 with 15 retail branch locations in communities across Maine, and approximately 270 employees across the organization. Their vision is to build relationships that move Maine forward and help Mainers reach their goals and create new ones. Contact Machias Savings Bank at 866-416-9302 for more information on how to become a homeowner.
USDA is a proud partner to all lenders who work with the agency to support rural homeownership. Since January 2021, the Biden Harris Administration has invested $24.7 million nationwide to help more than 136,000 people in rural and tribal communities buy and build homes through the Single Family Housing Guaranteed Loan Program. USDA Rural Development has partnered with local lenders to help more than 30,000 people in socially vulnerable communities buy and build homes.
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