Pinnacle Bank Leader in Rural Housing Loans
Written by Andrew-Rossi on March 29, 2017
A local bank has been named a leader in offering affordable loans to homebuyers.
USDA Rural Development of Wyoming recently published their Top Ten List of Guaranteed Rural Housing Lenders for 2016. Pinnacle Bank was named the third largest Wyoming rural development lender, lending more than $11 million dollars to eligible home buyers with the program.
The Guaranteed Rural Housing loan program is designed to help low to moderate income households secure funding for a home, according to Mark Westerhold at Pinnacle.
Eligible homes are located in rural communities with 35,000 or fewer residents, which Westerhold points out qualifies every community in Wyoming except Casper and Cheyenne. And he adds that this loan can be used in conjunction with WCDA first time homebuyers loans so people can purchase a home with no down payment and at a lower interest rate.
Pinnacle Bank operates more than 140 community banks in eight states, including 11 in Wyoming, which is where the company was first chartered in 1938.