USDA Rural Development honored Wells Fargo Home Mortgage as a fiscal year 2009 multi-million dollar lender on Dec. 2.

Using the agency's guaranteed loan program, Wells Fargo generated more than $12 million in home loans that helped 119 families own homes in Illinois that they might not have been able to afford to buy with conventional loans.

The Rural Development loan guarantee allows Wells Fargo Home Mortgage to offer home loans for up to 100 percent of the home's value with competitive 30-year fixed interest rates. The guarantee makes the loan even more affordable because borrowers do not have to pay monthly private mortgage insurance premiums.

Rural Development Area Specialist Kevin Vetos presented Geoff Vezain, sales manager for Wells Fargo, an award of excellence for being one of the state's top performers for guaranteed home loans. Wells Fargo is one of more than 300 lenders across the state approved to use the guaranteed home loan program.

"We are extremely pleased with Wells Fargo's achievement and what it means to the community," said Vetos. "It's good for the local economy when more people own homes or upgrade to larger homes."

"It is because of the performance of lenders like Wells Fargo Home Mortgage that Rural Development in Illinois has led the nation for several years in guaranteed home loans that helped more than 5700 home buyers this year secure the best home financing available," Vetos added.

The Rural Development guaranteed home loan program also offers flexible credit guidelines and generous income limits. More information is available by calling Wells Fargo or the USDA Rural Development office at 815-433-0551 ext. 4.