USDA recognizes local banker's efforts

Milford n USDA Rural Development has presented a Certificate of Appreciation to Darren Lowell, a loan originator with First Horizon Home Loans, for his participation in originating guaranteed loans to applicants who purchased homes using the USDA Rural Development’s Guaranteed Rural Housing Loan (GRH) program. Over 170 loan originators utilized the program in fiscal year 2006, and Darren was one of the high producing originators for the Commonwealth of Pennsylvania. Overall, throughout Pennsylvania, 730 families purchased homes in fiscal year 2006, through this USDA Rural Development GRH Program. The program targets families in the low and moderate income levels. A family of four can earn as much as $75,350 - $78,400, depending on the area they are purchase in. The program’s most desirable feature is that no down payment is required. The program permits financing up to 100%. Other features of the GRH program include lower monthly payments and no private mortgage insurance requirement. Loans may be made on new or existing homes. There is no cap on the total mortgage amount, although the payments must be within the applicant’s repayment ability. The application processing is done by participating local lenders. For more information on the programs, contact Darren Lowell at 570-296-6330, Dlowell@FHHLC.com.