U.S. Department of Agriculture Names Guild Mortgage a Top Guaranteed Rural Housing Lender for 2023
Mortgage lender honored for outstanding loan origination, providing affordable homeownership opportunities that improve the quality of life in rural areas
Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, was recognized as a 2023 Top Guaranteed Rural Housing Lender in the Loan Origination category by the U.S. Department of Agriculture. Guild is the second largest originator of USDA loans nationally.
“Although small relative to the scale of the multi-trillion-dollar mortgage market, rural housing loans are meaningful lifelines to economic security for the individuals they help and the communities they bolster.”
Guild provides special financing opportunities to homebuyers who live in or would like to purchase a primary residence in rural areas as defined by USDA. These loans, also known as Rural Development loans, are designed to assist rural families and individuals with low-to-average income for their area. Through these loans, USDA provides 100% financing with reduced mortgage insurance premiums and below-market mortgage rates to help open the door to homeownership for rural Americans.
“One of the many advantages of this government-backed loan is that it requires no down payment, which can help low-to-moderate income homebuyers overcome one of the most common hurdles to purchasing a home, which in turn helps provide stability for families and strengthens our rural communities,” said David Battany, EVP of capital markets, Guild Mortgage. “While these loans are designed to assist homebuyers in rural areas, the USDA considers most of the country, including some suburban areas, as qualified rural areas. Guild remains dedicated to homebuyers who live or would like to live in rural areas and beyond, working with each of our customers to find the best solution for them.”
Battany, who spoke to the United States Senate Committee on Banking, Housing and Urban Affairs in September 2022, urged policymakers to advance rural housing lending by addressing workflow, technology, and loan products.
“The rural market is constrained by limited housing supply, much of which is aging single-family housing,” said Battany. “Although small relative to the scale of the multi-trillion-dollar mortgage market, rural housing loans are meaningful lifelines to economic security for the individuals they help and the communities they bolster.”
For more information about USDA rural housing eligibility and requirements, visit: guildmortgage.com/mortgage-loans/usda-loan/.
Headquartered in San Diego, Guild Mortgage is a leading national lender with an established history of offering a comprehensive array of loan products and partnering with government organizations to help deliver the promise of home in every neighborhood and community. Its loan professionals can serve the needs of any homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers looking for a jumbo loan. Guild also helps active duty and retired military personnel who qualify for VA loans with 100% financing and flexible qualifying standards. The company is consistently recognized for its impact in the communities it serves, commitment to customer service, strength in regulatory compliance, and workplace culture.
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