USDA Rural Development has announced its Top 5 approved lenders in Louisiana that provided Guaranteed Rural Housing Loan funds to rural home buyers in Louisiana for Fiscal Year 2015.
“In Fiscal Year 2015, five approved lenders provided more than $282.6 million to assist 1,882 rural Louisiana families with moving into their own home. We partner with lenders and mortgage brokers to give eligible households an opportunity to purchase a home with no down payment,” said USDA Rural Development Single Family Housing Director Brian Lewis.
The Top Five Lenders-Loans and Funds Provided:
GMFS LLC – 875 loans / $136.5 million
American Southwest Mortgage Corp – 332 loans / $45.9 million
Assurance Financial Group, LLC – 323 loans / $49.8 million
Iberiabank Mortgage Company – 178 loans / $24 million
Fidelity Bank/ NOLA Lending Group – 174 loans / $26.4 million
The Single Family Guaranteed Rural Housing Program ranked fifth in dollars obligated and ninth in number of loans in the country. Lenders must be approved by USDA Rural Development to participate in the program, and dwellings must be located in a rural area. Property and income eligibility information can be found at: http://eligibility.sc.egov.usda.gov.
Through the Single Family Housing Programs, we helped over 5,133 families by obligating over $714 million with buying, building, and repairing homes. Opportunities for low and moderate-income rural Louisianans are available through several loans, grant, and loan guarantee programs. Parish income limits for the programs are posted on the USDA Rural Development Louisiana at http://www.rd.usda.gov/la and clicking on “Check Eligibility” on the bottom of the screen.
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life in rural communities. For information on USDA Rural Development programs in Louisiana, or for a FREE pre-qualification, you can visit our website, email LA-RDGRH@la.usda.gov, or call (318) 473-7630.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President's leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way - strengthening America's economy, small towns and rural communities.