538 MFH Guaranteed Program
This program provides loan guarantees to lenders for financing, construction, acquisition, and rehabilitation of multi-family housing units.
Eligibility- Public entities
- For-profit corporations
- Non-profit organizations
- Tribal Governments
- Individuals
- Located in rural area, population not to exceed 20,000
- Maximum 40 year term
- Lender / Applicant negotiated rates/fixed rate based on Treasury Rate
- Guarantee up to 90%
- Tax credits can be combined with this loan at a credit rate of 9%
- Good secondary market
- Guarantee fee is 1% plus 0.5% annual servicing fee
- Application fee of $2,500
For more information on this or any program offered by Rural Development, please contact your nearest Area Office.
| Application Materials |
|---|
| 538 Program Regulation - Handbook 1-3565 (large .pdf document) |
| Note: some documents require Adobe Reader |
