Guaranteed Rural Housing (GRH) Loans

This program was designed to help soldiers and civilian employees purchase adequate, affordable housing in rural towns and areas with a guarantee from USDA Rural Development. The GRH loan provides up to 102% financing without requiring a down payment or mortgage insurance!  For soldiers, the bottom line is that GRH provides the same Veteran’s Administration (VA) loan benefits at a lower overall cost and usually requires less out-of-pocket cost than VA!  For civilians, GRH is the most affordable mortgage compared to conventional long-term, fixed rate loans.

Benefits of this program include:

• 102% Financing

• No Downpayment

• No Mortgage Insurance

• Low Long-Term Fixed Rate

• Funding Fee Less Than VA

• GRH may finance some closing costs (VA cannot)

• No Minimum Credit Score

• No Purchase Price Limit

• No Asset Requirements

• For military OR civilian

• Doesn't affect VA eligibility

• Not restricted to first-time homebuyers!

Eligibility Requirements:

• Citizenship: Be a U.S. citizen or have qualified alien status, and have legal capacity to borrow.

• Eligible Location: Home is in a rural area or town less than 20,000 in population.  Junction City, KS is eligible!

• Acceptable Credit History: there is no minimum credit score to qualify!  Exceptions can be made for credit history problems that were temporary or beyond your control and have been resolved.  Having no credit history/score is okay if you have paid rent or have non-traditional credit history.

• Adjusted Income: must be within Agency income limits.  See your nearest CNB Home Loan Professional for more information.

• Repayment Ratios: 29% of monthly income for the house payment (includes taxes and property insurance) and 41% of monthly income for all debt payments.  Ratio limits can be exceeded in certain situations.

We offer FREE Pre-qualification and counseling service.

Contact your nearest Home Loan Professional today!