Materials Posted
PowerPoint Presentation | Recording
The purpose of the Section 538 Guaranteed Loan Program is to increase the supply of affordable rural rental housing, it differs in some important ways from USDA’s Section 515. Section 538 focuses on partnerships between USDA and qualified lenders, whereas Section 515 loans are directly funded from USDA to nonprofit or for-profit rural housing developers. The program is operated by the U.S. Department of Agriculture’s Rural Development. The GRRH program is delivered through USDA approved participating Lenders.
Section 538 Guaranteed loans can be used for new construction, refinance of existing GRRH loans and acquisition rehabilitation of affordable family, senior and workforce multifamily projects.
This webinar, the second of the two-part series, will cover the HQs Direct Loan and Guaranteed loan divisions process for using the section 538 for the preservation and rehabilitation of section 515 rental housing. Information will be provided on process, timing and potential roadblocks. We will discuss third-party participation such as lenders and syndicate roles.