USDA – RHS 538 GRRHP

Total loan volume $330M

Total loans closed 151

Overview

Provides mortgage insurance guarantee to facilitate the new construction or substantial rehabilitation of multifamily or independent senior rental housing units, or the acquisition, revitalization, repair and transfer costs of existing direct RD Section 515 housing. This program provides for both construction and permanent financing or permanent financing only.

Boundless lending sources.
Curated for clients.

Loan features and benefits

Specifically designed for rural properties in rural communities
Non-recourse
Competitive long term fixed interest rates
Interest rate modifications allowed
Up to 40-year term and amortization
No minimum or maximum loan size
Not subject to Davis-Bacon wage rates
Secondary financing allowed
Developer fee allowed
The loan can be fully assumable

Compatible property types

Recent transactions

Affordable housing

North East, MD

$3,155,000

Lender: USDA
Terms: New construction loan

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Affordable housing

Waynesville, NC

$3,060,830

Lender: USDA
Terms: New construction loan

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Affordable housing

Conover, NC

$2,875,000

Lender: USDA
Terms: Permanent loan

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Affordable housing

Arcadia, IN

$6,262,580

Lender: USDA
Terms: Permanent loan

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Workforce housing

Annandale, MN

$15,384,510

Lender: USDA
Terms: New Construction loan

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Seniors housing

Vero Beach, FL

$1,700,000

Lender: USDA
Terms: Permanent loan

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Seniors housing

East Canton, OH

$1,089,000

Lender: USDA
Terms: Permanent loan

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Affordable housing

La Plata, MD

$9,515,000

Lender: USDA
Terms: Construction loan

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News and insights

Explore insights

Press Release

BWE Secures Over $32 Million for Affordable Housing in Indiana and North Carolina

Press Release

BWE Secures Over $26 Million for Seniors and Affordable Housing Across the Country

Press Release

BWE Secures $19 Million in Acquisition and Rehabilitation Financing for Trio of Affordable Indiana Properties