CBC Mortgage Agency, a Native American-owned nationally chartered housing finance agency headquartered in Cedar City, Utah, was approved by the U.S. Department of Agriculture (USDA) to provide 30-year mortgage loans for borrowers outside of urban and suburban areas.
USDA loans offer 100% financing for low- and moderate-income borrowers in eligible rural areas. Up to 90% of the original principal amount of USDA-based 30-year notes are guaranteed by the agency.
“Our lending partners can now help eligible borrowers buy a home with no money down instead of having to scrape together their own funds or take out a second mortgage for down payment assistance,” CBC Mortgage Agency President Miki Adams said. “We are thrilled to receive USDA approval and expand our mission of helping underserved families achieve the American dream and build wealth through home equity. This is an exciting new chapter in CBCMA’s growth. We look forward to working with correspondent lenders to provide housing help for those who need it most.”
;
