Cornerstone Mortgage, Inc., a privately held St. Louis based mortgage-banking firm, recently was named one of the Top 3 USDA lenders in Missouri.
A Cornerstone Mortgage, Inc. is located in Washington, at 1001 Jefferson St.
The company closed 241 USDA loans with total loan amounts exceeding $29 million.
The “Top 3 Guaranteed Rural Housing Program Lenders” were announced by Missouri Rural Development State Director Janie Dunning.
“Rural community and economic development depends upon access to adequate housing,” Dunning said. “This access is as crucial as access to adequate utilities. Lack of quality housing stock results in the inability of rural communities to sustain themselves. These lenders have made a commitment to the development of rural areas. Through their efforts, the lenders have enabled families and individuals to become homeowners in rural communities.
“Without their willingness to participate in the GRH Program and be a partner with Rural Development, many folks may not have been able to purchase a home, thereby strengthening rural communities.”
According to the USDA, nearly 6,000 Missouri families purchased homes through the single-family housing guaranteed loan program in the 2013 fiscal year, which resulted in an investment of $650,687,121 in rural communities throughout Missouri.
“We are honored to be named one of the Top 3 USDA Lenders in Missouri. We understand how important USDA home loans are to the development of rural communities. We are committed to originating even more of these loans in the future,” said Jim Dean, president/CEO.