NEVADA

Multi-Family Housing Guaranteed Loan
(MFH Guarantee)

Purpose: What is the Program's Goal?
Provide an incentive for commercial lending to develop and repair apartments for low-income tenants.

Program Type: How does it work?
USDA Rural Development guarantees loans made by banks.

Eligible Applicants: Who can apply?
Banks and other lenders making loans to developers, tribes, or public agencies.

Eligible Areas:
Unincorporated rural areas, cities, and towns with populations of 20,000 or less.

Authorized Purposes: What can funds be used for?
The guaranteed loans can be used to develop new apartments or buy and renovate existing apartments.

Typical Amount of Assistance:
$2,000,000.

Rates & Terms (rates subject to change):
Negotiated between borrower and lender.

Key to Success:
Lender-driven: there must be a lender willing to make the loan (USDA Rural Development only guarantees the loan).

When to Apply:
Once-a-year.

Who to Contact:
USDA Rural Development State Office

Back to Rental Housing

USDA Rural Development National Web Site