NEVADA

Multi-Family Housing Direct Loan
(MFH 515 Loan)

Purpose: What is the Program's Goal?
Develop and repair apartments for low-income tenants.

Program Type: How does it work?
USDA Rural Development makes loans for apartments.

Eligible Applicants: Who can apply?
Private developers, nonprofits, tribes, and 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?
Develop new apartments or buy and renovate existing apartments; may also provide partial or complete rental assistance.

Typical Amount of Assistance:
$1,000,000 maximum; usually paired with tax credits and other funds.

Rates & Terms (rates subject to change):
Effective rate 1% for 30 years with 50-year amortization

When to Apply:
Once-a-year

Who to Contact:
USDA Rural Development State Office

Back to Rental Housing

USDA Rural Development National Web Site