The Housing Assistance Council (HAC) presents regular information and data on USDA’s rural housing loan and grant obligation activity.

USDA Obligations FY 2021 Featured Image

USDA Rural Development Obligations FY 21 – March

USDA Rural Development Obligations Report Cover - FY 2021

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2021 USDA Rural Housing program obligations.

As of the end of February, USDA obligated 60,232 loans, loan guarantees, and grants totaling about $10,330,206,982. This is $2,134,121,531 higher than obligation levels from this time last year. At that time, there were 53,209 loans, loan guarantees, and grants obligated totaling $8,196,085,451.

Federal agencies operated under a series of short-term continuing resolutions (CR) for most of the first quarter of FY 2021. A final CR was signed into law on December 27, 2020 which provides funding for the remainder of the fiscal year. Since March 20, 2020, USDA offices have been operating from remote locations due to the COVID-19 virus.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $9,888,959,509 (56,221 loan guarantees) up from $7,721,657,308 ( 48,119 loan guarantees) this time last year.

For the Section 502 Direct program, loan obligations totaled $356,827,444 (1,965 loans), similar to last year’s obligation level of $365,962,478 (2,157 loans.) About 38 percent of the loan dollars went to Very Low-income (VLI) applicants. VLI loans represented over 44 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated  750 loans representing $4,369,687. Loan volume was up from this time last year (1,015 loans representing $6,193,027.) There were also about $7,942,283 (1,245 grants) obligated in the Section 504 grant program compared to $12,003,752 (1,869 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 6 grants and contracts totaling $3,710,175 up from last year’s 3 grants and contracts totaling $1,900,426.

Multi-Family Housing Programs

USDA’s Section 538 Multifamily Housing program obligated 35 loan guarantees totaling $68,356,333 compared to last year’s 29 loan guarantees ($60,715,592.) No Section 515 Rural Rental Housing program have been funded so far this year, similar to last year at this time. There have been 0 loans and 5 grants obligated in the MPR program totaling $0 and $251,778 this year compared to 0 loans and 3 grants representing $0 and $988,734, respectively last year.

No Farm Labor Housing loans or grants have been funded so far this year. Last year at this time, 9 loans and 5 grants were obligated ($18,630,577 and $5,853,855, respectively.)

USDA obligated funds for 38,592 rental assistance units under the Section 521 Rental Assistance program totaling $219,583,640. This compares to about 83,226 units ($477,189,635) obligated same time last year. There were also 1,939 Rural Housing Vouchers totaling $9,651,145 compared to2,340 vouchers representing $11,057,083 this time last year.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Obligations FY 2021 Featured Image

USDA Rural Development Obligations FY 21 – February

USDA Rural Development Obligations Report Cover - FY 2021

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2021 USDA Rural Housing program obligations.

As of the end of February, USDA obligated 60,232 loans, loan guarantees, and grants totaling about $10.3 billion. This is approximately $2.1 billion higher than obligation levels from this time last year when 53,209 loans, loan guarantees, and grants were obligated totaling nearly $8.2 billion.

Federal agencies operated under a series of short-term continuing resolutions (CR) for most of the first quarter of FY 2021. A final CR was signed into law on December 27, 2020 which provides funding for the remainder of the fiscal year. Since March 20, 2020, USDA offices have been operating from remote locations due to the COVID-19 virus.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated approximately $9.9 billion (56,221 loan guarantees) up from nearly $7.8 billion (48,119 loan guarantees) this time last year.

For the Section 502 Direct program, loan obligations totaled $356.9 million (1,965 loans), a bit lower than last year’s $366 million (2,157 loans.) About 38 percent of the loan dollars went to Very Low-income (VLI) applicants. VLI loans represented over 44 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 750 loans and 1,245 grants representing about $4.4 million and 7.9 million respectively. Loan volume was lower than this time last year (1,015 loans representing $6.2 million) while grants totaled $12.0 million (1,869 grants).

USDA’s Section 523 Self Help Housing Grant program funded 6 grants and contracts totaling $3.7 million up from last year’s 3 grants and contracts totaling $1.9 million.

Multi-Family Housing Programs

USDA’s Section 538 Multifamily Housing program obligated 35 loan guarantees totaling nearly $68.4 million compared to last year’s 29 loan guarantees ($60.7 million.) No Section 515 Rural Rental Housing program have been funded so far this year, similar to last year at this time. There were also no loans or grants obligated so far in FY 21 under the MPR program compared to 3 grants representing $988,734 at this time last year.

No Farm Labor Housing loans or grants have been funded so far this year. Last year at this time, 9 loans and 5 grants were obligated (about $18.6 million and nearly $5.9 million respectively.)

USDA obligated funds for 38,592 rental assistance units under the Section 521 Rental Assistance program totaling $219.6 million. This compares to about 83,226 units ($477.2 million) obligated same time last year. There were also 1,939 Rural Housing Vouchers totaling about $9.7 million compared to 2,340 vouchers representing just over $11 million this time last year.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Obligations FY 2021 Featured Image

USDA Rural Development Obligations FY 21 – January

USDA Rural Development Obligations Report Cover - FY 2021

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2021 USDA Rural Housing program obligations.

As of the end of January, USDA obligated 47,476 loans, loan guarantees, and grants totaling about $8.1 billion, an increase of more than $3.1 billion over this time last year. At that time, there were 32,361 loans, loan guarantees, and grants obligated totaling nearly $5 billion.

Federal agencies operated under a series of short-term continuing resolutions (CR) for most of the first quarter of FY 2021. A final CR was signed into law on December 27, 2020 which will provide funding for the remainder of the fiscal year. Since March 20, 2020, USDA offices have been operating from remote locations due to the COVID-19 virus.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated nearly $7.8 billion (44,318 loan guarantees) an increase of nearly $4.8 billion (29,808 loan guarantees) over this time last year.

For the Section 502 Direct program, loan obligations totaled $292 million (1,623 loans), nearly double last year’s obligation level of $151 million (899 loans.) About 39 percent of the loan dollars went to Very Low-income (VLI) applicants. VLI loans represented almost 45 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 587 loans representing $3.4 million similar to last year’s 586 loans representing nearly $3.5 million. Section 504 grants were a bit lower than last year at $5.7 million (916 grants) compared to $6.3 million (1,029 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 5 grants and contracts totaling nearly $3.5 million up from last year’s 2 grants and contracts totaling $1.9 million.

Multi-Family Housing Programs

USDA’s Section 538 Multifamily Housing obligated 20 loan guarantees totaling $64.6 million compared to last year’s 23 loan guarantees totaling nearly $34.1 million. No Section 515 Rural Rental Housing program have been funded so far this year, similar to last year at this time. No loans or grants have been obligated in the MPR program so far this year compared to 3 grants representing $988,734 last year.

So far this year, there have been no Farm Labor Housing loans or grants funded. Last year at this time, 7 loans and 4 grants were obligated ($12. 6 million and $3.9 million, respectively.)

USDA obligated funds for 38,592 rental assistance units under the Section 521 Rental Assistance program totaling $219.6 million, less than last year’s 46,336 units ($272.9 million) obligated same time last year. Section 542 Rural Housing Vouchers were up from last year at 1,675 vouchers totaling nearly $8.4 million compared to 913 vouchers representing nearly $4.7 million.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Obligations FY 2021 Featured Image

USDA Rural Development Obligations FY 21 – December

USDA Rural Development Obligations Report Cover - FY 2021

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2021 USDA Rural Housing program obligations.

As of the end of December, USDA obligated 35,111 loans, loan guarantees, and grants totaling about $5,972,304,527. This is nearly $1 billion higher than obligation levels from this time last year. At that time, there were 32,361 loans, loan guarantees, and grants obligated totaling $4,973,305,990.

The agency operated under several short-term continuing resolutions during the month of December. A final CR was signed into law on December 27, 2020 which will provide funding for the remainder of the fiscal year. Since March 20, 2020, USDA offices have been operating from remote locations due to the COVID-19 virus.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $5,746,294,375 (32,823 loan guarantees) up from $4,759,272,406 (29,808 loan guarantees) this time last year.

For the Section 502 Direct program, loan obligations totaled $179,758,120 (975 loans), similar to last year’s obligation level of $151,845,219 (899 loans.) Over 41 percent of the loan dollars went to Very Low-income (VLI) applicants. VLI loans represented over 47 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 498 loans representing $2,838,485 compared to 586 loans representing $3,462,472 at this time last year.) There were also about $4,863,579 (788 grants) obligated in the Section 504 grant program compared to $6,336,917 (1,029 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 5 grants and contracts totaling $3,449,175 up from last year’s 2 grants and contracts totaling $1,870,512.

No credit sales have been funded yet this year, similar to last year at this time.

Multi-Family Housing Programs

USDA’s Section 538 Multifamily Housing obligated 17 loan guarantees totaling $35,082,487 compared to last year’s 23 loan guarantees ($34,064,126.) There have not yet been obligations this year in the Section 515 Rural Rental Housing, the Farm Labor Housing, or MPR programs yet this year. It should be noted that funding in these programs is more prominent later in the fiscal year for most MFH loan and grant programs.

USDA obligated funds for 38,592 rental assistance units under the Section 521 Rental Assistance program totaling $219,583,640 compared to 46,336 units ($272,857,393) obligated same time last year. There were also 1,277 Rural Housing Vouchers totaling $6,508,033 compared to 913 vouchers representing $4,664,688 this time last year.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Obligations FY 2021 Featured Image

USDA Rural Development Obligations FY 21 – November

USDA Rural Development Obligations Report Cover - FY 2021

As of the end of November, USDA obligated 23,321 loans (direct and guaranteed) and grant representing $3,960,074,070. This is $622,009,470 higher than obligation levels from this time last year. At that time, there were 21,676 loans, loan guarantees, and grants obligated totaling $3,338,064,600.

The agency is operating under a continuing resolution providing funding through December 11, 2020 which provides limited funding. Since March 20, 2020, USDA offices have been operating from remote locations due to the COVID-19 virus.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $3,788,050,163 (21,758 loan guarantees) up from $3,216,244,331 (20,191 loan guarantees) this time last year.

For the Section 502 Direct program, loan obligations totaled $142,394,439 ( 756 loans), similar to last year’s obligation level of $89,013,254 ( 520 loans.) About 42 percent of the loan dollars went to Very Low-income (VLI) applicants. VLI loans represented over 47 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 317 loans representing $1,777,504, lower than obligations at the same time last year (349 loans representing $2,132,997.) The Section 504 grant program obligations totaled $2,955,589 (478 grants) compared to $3,678,139 (595 grants) at this time last year.

USDA’s Section 523 Self Help Housing Grant program funded 5 grants and contracts totaling $3,449,175. There were no program obligations this time last year for the Section 523 program.

Multi-Family Housing Programs

USDA’s Section 538 Multifamily Housing obligated 7 loan guarantees totaling $21,447,200. Last year at this time, there were 14 loan guarantees ($21,354,379.)

In the Section 521 Rental Assistance program, funds for  30 rental assistance units under the totaling $150,564 compared to 16,278 units ($92,494,098) obligated same time last year. There were also  953 Rural Housing Vouchers totaling $4,882,173 compared to 796 vouchers representing $4,035,675 this time last year.

There were no other obligations for Single or Multi-Family programs as of the end of November.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Rural Development Obligations FY 20 – September

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2020 USDA Rural Housing program obligations.

As of the end of September, USDA obligated 151,874 loans, loan guarantees, and grants totaling about $24,528,082,505. This is $8,149,932,673 higher than obligation levels from this time last year. At that time, there were112,764 loans, loan guarantees, and grants obligated totaling $16,378,149,832.

The agency operated under several continuing resolutions and a 35-day government shutdown last year and obligations have come back to a more normal level in FY 2020. The FY 2020 Consolidated Appropriations Act was signed into law on December 20, 2019 which provided funding for the rest of this fiscal year. Since March 20, 2020, USDA offices have been operating from remote locations due to the COVID-19 virus.

Single Family Housing Program Highlights

 

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $23,074,581,633 (137,970 loan guarantees) up from $14,865,886,386 ( 99,322 loan guarantees) last year.

For the Section 502 Direct program, loan obligations totaled $1,001,414,954 (5,821 loans), similar to last year’s obligation level of $1,001,607,718 (6,194 loans.) About 40 percent of the loan dollars went to Very Low-income (VLI) applicants. VLI loans represented nearly 45 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 2,739 loans representing $16,640,730. Loan volume was up from this time last year (2,735 loans representing $17,364,032.) There were also about $31,541,672 (4,842 grants) obligated in the Section 504 grant program compared to $24,796,734 (3,908 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 55 grants and contracts totaling $32,783,534 up from last year’s 37 grants and contracts totaling $29,001,946.

USDA funded 4 credit sales representing $471,052.

Multi-Family Housing Programs

 

USDA’s Section 538 Multifamily Housing obligated 150 loan guarantees totaling $228,486,473, higher than last year’s 90 loan guarantees ($160,390,167.) In the Section 515 Rural Rental Housing program, there were 40 loans totaling $40,000,001 (including disaster assistance) obligated compared to 86 loans totaling $102,022,213 last year. There have been 80 loans and 5 grants obligated in the MPR program totaling $57,084,997 and $251,778 this year compared to 205 loans and 3 grants representing $130,308,556 and $988,734, respectively last year.

The Farm Labor Housing programs funded 15 loans and 7 grants totaling $20,094,577 and $8,935,855 respectively. Last year at this time, 17 loans and 7 grants were obligated ($19,985,387 and $8,707,162, respectively.)

There were 126 Section 533 Housing Preservation grants obligated this year totaling $15,626,425.

USDA obligated funds for 241,208 rental assistance units under the Section 521 Rental Assistance program totaling $1,375,000,000. This compares to about 252,319 units ($1,331,400,000) obligated same time last year. There were also 7,489 Rural Housing Vouchers totaling $34,544,766 compared to 6,559 vouchers representing $28,623,289 this time last year.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Rural Development Housing Funding Activity: Fiscal Year 2019 Year-End Report

HAC presents an overview of the United States Department of Agriculture (USDA) Fiscal Year (FY) 2019 USDA Rural Housing program obligation activity in this publication, USDA Rural Development Housing Funding Activity: Fiscal Year 2019 Year-End Report.

Since the 1950s, USDA has provided financial assistance for the construction, repair, and affordability of millions of homes for low- and moderate-income rural Americans. USDA accomplishes this activity through its Rural Development (RD) agency. In FY 2019, USDA obligated 112,556 loans, loan guarantees, and grants totaling about $16.2 billion not including Multi-family Preservation and Revitalization program loan and grant funding. Since the first USDA housing loan was made (around 1950), the agency has funded the construction, purchase or repair of over 5.2 million rural housing units representing $335.7 billion.

Beginning in 1978, USDA also provided funding for rental assistance to help tenants better afford to rent housing in agency-financed multi-family housing units. In FY 2019, USDA obligated 258,878 annual units of tenant assistance representing about $1.36 billion through the combined total of the Section 521 Rental Assistance and the Section 542 Rural Housing Voucher programs. Since the late 1970s, USDA funded nearly $24.6 billion for rental assistance and tenant vouchers representing 3.57 million annual units.

USDA Program Obligation Final Report - FY 2019

USDA Rural Development Obligations FY 20 – January

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2020 USDA Rural Housing program obligations.

As of the end of January, USDA obligated 43,467 loans, loan guarantees, and grants totaling about $6,685,869,698. This is $3,029,686,464 more than obligation levels from this time last year. At that time, there were 27,902 loans, loan guarantees, and grants obligated totaling $3,656,183,234.

The agency operated under several continuing resolutions and a 35-day government shutdown last year and obligations have come back to a more normal level in FY 2020. The FY 2020 Consolidated Appropriations Act was signed into law on December 20, 2019 which provided funding for the rest of this fiscal year.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $6,327,431,982 (39,521 loan guarantees) down from $3,454,467,100 ( 24,212 loan guarantees) last year.

For the Section 502 Direct program, loan obligations totaled $284,675,985 (1,684 loans), down from $136,719,298 ( 884 loans) this time last year. About 41 percent of the loan dollars went to Very low-income (VLI) applicants. VLI loans represented nearly 46 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 785 loans representing $4,693,566. Loan volume was up from this time last year ( 513 loans representing $3,030,230.) There were also about $9,028,020 ( 785 grants) obligated in the Section 504 grant program compared to $3,929,482 ( 657 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 2 grants and contracts totaling $1,870,512 up from last year’s 2 grants and contracts totaling $975,000.

USDA funded 2 credit sales representing $247,120.

Multi-Family Housing Programs

USDA’s Section 538 Multifamily Housing obligated 26 loan guarantees totaling $39,448,658, down from last year’s 34 loan guarantees ($47,147,737.) In the Section 515 Rural Rental Housing program, there were 0 loans totaling $0 (including disaster assistance) obligated compared to 2 loans totaling $2,877,000 last year. Obligations in the MPR program include 0 MPR loans totaling $0 and 3 grants totaling $988,934 compared to 0 loans and 0 grants representing $0 and $0 last year.

The Farm Labor Housing programs funded 7 loans and 5 grants totaling $12,620,000 and $5,853,855 respectively. Last year, 0 loans and 0 grants were obligated ($0 and $0, respectively.)

There were 0 Section 533 Housing Preservation grants totaling $0 have been obligated so far this year, compared to 0 grants last year totaling $0.

USDA obligated funds for 46,402 rental assistance units under the Section 521 Rental Assistance program totaling $273,194,031. This compares to about 21,914 units ($99,595,161) obligated same time last year. There were also 1,054 Rural Housing Vouchers totaling $5,606,238 compared to 1,596 vouchers representing $6,879,602 this time last year.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Rural Development Obligations FY 19 – September

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2019 USDA Rural Housing program obligations.

As of the end of September, USDA obligated112,760 loans, loan guarantees, and grants totaling about $16,377,611,967. This is $2,042,040,512 less than obligation levels from this time last year. At that time, there were 131,487 loans, loan guarantees, and grants obligated totaling $18,419,652,479.

The agency operated under several continuing resolutions and a 35-day government shutdown early in the fiscal year. The Consolidated Appropriations Act, 2019 was signed into law on February 15, 2019 which provided funding for the rest of the fiscal year.

Single Family Housing Program Highlights
The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $14,865,886,386 (99,322 loan guarantees) down from $16,826,420,078 (115,864 loan guarantees) last year.

For the Section 502 Direct program, loan obligations totaled $1,001,607,718 (6,194 loans), down from $1,100,796,382 (7,199 loans) this time last year. About 37 percent of the loan dollars went to Very low-income (VLI) applicants. VLI loans represented nearly 42 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 2,735 loans representing $17,364,032. Loan volume was down from this time last year (3,225 loans representing $19,789,118.) There were also about $24,796,734 (2,735 grants) obligated in the Section 504 grant program compared to $28,193,015 (4,585 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 37 grants and contracts totaling $29,001,946 down from last year’s 47 grants and contracts totaling $34,804,803.

USDA has also funded 7 credit sales representing $617,021.

Multi-Family Housing Programs
USDA’s Section 538 Multifamily Housing obligated 90 loan guarantees totaling $160,390,167, down from last year’s 132 loan guarantees ($185,639,985.) In the Section 515 Rural Rental Housing program, there were 85 loans totaling $101,484,348 (including disaster assistance) obligated compared to 35 loans totaling $42,609,649 last year. Obligations in the MPR program include 205 MPR loans totaling $130,308,556 and 3 grants totaling $988,934 compared to 186 loans and 2 grants representing $116,029,859 and $251,260 last year.

In the Farm Labor Housing programs, 17 loans and 7 grants have been funded totaling $19,985,387 and $8,707,162 respectively. Last year in September, 5 loans and 1 grant were obligated ($35,476,514 and $17,192,708, respectively.)

There were 130 Section 533 Housing Preservation grants totaling $14,478,530 have been obligated so far this year, compared to 143 grants last year totaling $10,764,080.

USDA obligated funds for 252,319 rental assistance units under the Section 521 Rental Assistance program totaling $1,331,400,000. This compares to about 268,514 units ($1,345,293,000) obligated same time last year. There were also 6,559 Rural Housing Vouchers totaling $28,623,289 compared to 6,353 vouchers representing $26,679,198 this time last year.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

USDA Rural Development Obligations FY 19 – July

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2019 USDA Rural Housing program obligations.

As of the end of July, USDA obligated 87,281 loans, loan guarantees, and grants totaling about $12,445,800,643. This is $2,527,150,078 less than obligation levels from this time last year. At that time, there were 107,385 loans, loan guarantees, and grants obligated totaling $14,972,950,721.

The agency operated under several continuing resolutions and a 35-day government shutdown early in the fiscal year. The Consolidated Appropriations Act, 2019 was signed into law on February 15, 2019 which provided funding for the rest of the fiscal year.

Single Family Housing Program Highlights
The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $11,526,583,996 (78,041 loan guarantees) down from $13,918,207,676 (95,949 loan guarantees) last year.

For the Section 502 Direct program, loan obligations totaled $681,309,131 (4,272 loans), down from $822,239,509 (5,426 loans) this time last year. About 35 percent of the loan dollars went to Very low-income (VLI) applicants. VLI loans represented nearly 39 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 1,888 loans representing $11,606,210. Loan volume was down from this time last year (2,386 loans representing $14,649,289.) There were also about $18,047,886 (1,888 grants) obligated in the Section 504 grant program compared to $3,043,079 (3,428 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 17 grants and contracts totaling $14,842,675 down from last year’s 21 grants and contracts totaling $21,100,841.

USDA has also funded 5 credit sales representing $402,961.

Multi-Family Housing Programs
USDA’s Section 538 Multifamily Housing obligated 65 loan guarantees totaling $116,218,079, down from last year’s 98 loan guarantees ($125,317,415.) In the Section 515 Rural Rental Housing program, there were 35 loans totaling $69,730,661 obligated compared to 16 loans totaling $19,555,407 last year. Obligations in the MPR program include 22 MPR loans totaling $116,537 and no grants compared to 15 loans and 2 grants representing $15,650,054 and $251,260 last year.

In the Farm Labor Housing programs, 5 loans and 2 grants have been funded totaling $3,587,261 and $1,400,000 respectively. Last year in July, 5 loans and 1 grant were obligated ($8,455,000 and $7,883,070, respectively.)

No Section 533 Housing Preservation grants have been obligated so far this year, compared to 2 grants last year totaling $251,260.

USDA obligated funds for 188,297 rental assistance units under the Section 521 Rental Assistance program totaling $978,913,760. This compares to about 193,148 units ($950,607,363) obligated same time last year. There were also 5,705 Rural Housing Vouchers totaling $25,042,177 compared to 5,526 vouchers representing $23,244,818 this time last year.

Download the combined document.

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.