Global State Mortgage receives award

PRINCETON — Global State Mortgage has been recognized as a 2007 Million Dollar Lender by the U.S. Department of Agriculture’s Rural Development.

Global State Mortgage has generated more than $1.9 million in 100 percent guaranteed loans, assisting the Walnut, Princeton, Peru and Kewanee markets to serve local individuals and families achieve the dream of home ownership throughout Illinois. USDA provides products structured to assist families in realizing their dreams, while also helping to strengthen local communities.

The guaranteed loan offers a 100 percent loan (30-year term) with no required down payment, no private monthly mortgage insurance (PMI), no limit on seller contributions, competitive fixed market interest rates, and no maximum purchase price (limited only to qualifying ratios). USDA Rural Development loans are not only for first time home buyers.

“Helping kids buying their first home is one of the most rewarding things we do,” said Tom Hall with Global State Mortgage. “The guaranteed loan provides us with a program second to none. We have participated in doing this loan with the USDA since its inception in 1992.”

Leslye Mack, also of Global State Mortgage, added, “Working with the USDA has proven to be a good fit for us. There are many new and exciting changes with the program, and it directly benefits any home buyer.”

For more information, call Global State Mortgage at (815) 879-5363, to speak to either Mack or Hall.

The guaranteed program is administered through the Rural Development office located in Princeton. Call (815) 875-8732, ext. 4, for more information.