New Brighton, Minn (December 1, 2016) – CU Companies has expanded its offering to help financial institutions provide even more options to borrowers living in rural areas. Beginning on December 1, partners of CU Companies' correspondent and retail mortgage channels can offer eligible borrowers 100 percent home financing at competitive rates.
"With this addition to our already robust product offering we continue to help you and your borrowers have as many products available to help make homeownership possible," said Bruce Goetsch, National Sales Manager for CU Companies. "We are excited to offer this very useful product to help financial institutions serve low- and moderate-income households."
The new offering is made possible by the U.S. Department of Agriculture's Single Family Housing Guaranteed Loan Program which can be used to finance an existing structure or a new home. Eligible borrowers can also refinance a loan, among other uses. (See USDA's program page for more info.)
About CU Companies: CU Companies was founded in 1987 by three Minnesota credit unions to offer a competitive mortgage solution for their members. Now CU Companies is owned by over 60 credit unions in Minnesota and offers a wide range of products and services to numerous credit unions and community banks across the nation, including: mortgage, title, realty, investments/insurance, and business lending support services. Additionally, CU Companies has further developed its mortgage compliance department to deliver expert quality control services and its title division to provide services for the commercial marketplace. For more information, click to www.cucompanies.com