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Many Options Available For Home Loans

By Randy Alderman  

In February, the local newspaper published a story on the availability of home loans in Greenville and the surrounding area.  The article, while informative, painted a rather bleak picture for the housing market in our area. 

One realtor stated that “many conventional loans require 20 percent down, and that’s tough for many people to come up with.”  At Bradford National Bank, the leading home mortgage lender in Bond County, we are able to get many customers approved for loans with less than 20 percent down.

The USDA Rural Development’s Single Family Housing Guaranteed Loan Program provides up to 100% financing of your home purchase.  This program is not just for first time homebuyers. Our loan officers are very experienced with this program and will work to find a solution that best meets the needs of the customer.

   Bradford National Bank had been recognized as a Million Dollar Lender with the USDA Rural Development Agency multiple times.

   What is a Guaranteed Loan?  USDA Rural Development works with local lenders to help them extend 100% financing opportunities to eligible rural individuals and families for the purchase of a home.  Guaranteed loans have assisted thousands of homeowners to purchase a home with affordable interest rates and loan terms.  The federal government agrees to “guarantee” the bank’s loan to you, thereby reducing its risk when making mortgage loans.  The end result is more buyers achieve the dream of homeownership with affordable and attractive terms with assistance from Rural Development.

   This easy-to-use program can provide financing up to 100 percent of the appraised value, plus the guarantee fee.  This Rural Development program is available to home buyers in Bond and Madison County and can be utilized for new or existing homes.

   When meeting with your loan officer, come prepared to ask questions about the different loan programs available at Bradford National Bank.  The bank offers a full-range of mortgage products in addition to Rural Development loans.  We offer fixed rate mortgage loans at very competitive rates and terms of up to 30 years.  Down payments on conventional fixed rate loans can be as little as five percent, and we work to keep the closing costs to a minimum.  We offer adjustable rate loans as well, which can be tailored to the individual client’s needs as to the amount of down payment, the monthly payment, and the amortization period. We can also refinance your existing loan, many times at a lower rate.  The bank also offers loans for lot purchases and construction.

   The bottom line is this:  Securing a home loan may be easier than you think.  Interest rates continue to be favorable in our area.

   Stop by Bradford National Bank today and see what your options are for purchase of a new home.  Our professional lending staff is prepared to answer any questions you may have and find the best option for your individual situation.
For more information on the lending products available at the bank, visit our online loan center at 



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