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

As of the end of June, USDA obligated 74,991 loans, loan guarantees, and grants totaling about $10,659,333,101. This is $2,648,858,105 less than obligation levels from this time last year. At that time, there were 95,558 loans, loan guarantees, and grants obligated totaling $13,308,191,206.

The agency has been operating under several continuing resolutions and a 35-day government shutdown since the beginning of 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 $9,898,895,099 (67,456 loan guarantees) down from $12,430,479,360 ( 85,738 loan guarantees) last year.

For the Section 502 Direct program, loan obligations totaled $570,541,542 (3,579 loans), down from $674,685,223 (4,500 loans) this time last year. About 35 percent of the loan dollars went to Very low-income (VLI) applicants. VLI loans represented nearly 40 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 1,611 loans representing $9,790,531. Loan volume was down from this time last year (2,074 loans representing $12,606,413 million.) There were also about $13,467,007 (1,611 grants) obligated in the Section 504 grant program compared to $2,815,882 (3,073 grants) last year.

USDA’s Section 523 Self Help Housing Grant program funded 14 grants and contracts totaling $13,890,675 down from last year’s 17 grants and contracts totaling $18,944,693.

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

Multi-Family Housing Programs
USDA’s Section 538 Multifamily Housing obligated 59 loan guarantees totaling $102,636,987, down from last year’s 87 loan guarantees ($111,684,926.) In the Section 515 Rural Rental Housing program, there were 30 loans totaling $44,551,701 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 $3,587,261and $1,400,000 respectively. Last year in June, 5 loans and 1 grant were obligated ($7,055,000 and $3,000,000, 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 156,173 rental assistance units under the Section 521 Rental Assistance program totaling $809,159,791. This compares to about 192,696 units ($948,701,481) obligated same time last year. There were also 4,750 Rural Housing Vouchers totaling $21,058,331 compared to 5,025 vouchers representing $21,096,088 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.

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

As of the end of April, USDA obligated 53,177 loans, loan guarantees, and grants totaling $7,457,480,989. This is $2,493,674,788 less than obligation levels from the same time last year when there were 71,545 loans, loan guarantees, and grants obligated totaling $9,951,155,777.

The agency has been operating under several continuing resolutions and a 35-day government shutdown since the beginning of 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 $6,961,849,991 (48,113 loan guarantees) down from $9,344,108,146 (64,441 loan guarantees) at the same time last year.

For the Section 502 Direct program, the agency obligated $373,232,082 (2,366 loans), down from $470,085,569 (3,172 loans) in loan obligations this time last year. Very lowincome (VLI) loan obligations as a percentage of the total Section 502 Direct loan dollars was 36 percent. VLI loans represented 41 percent of the total number of Section 502 Direct loans.

The Section 504 Repair and Rehabilitation programs obligated 1,112 loans representing $6,630,392. Loan volume was down from this time last year (1,512 loans representing $9,060,511 million.) There were also $8,897,038 (1,112 grants) obligated in the Section 504 grant program compared to $2,430,119 (2,304 grants) at the same time last year.

USDA’s Section 523 Self Help Housing Grant program funded 7 grants and contracts totaling $7,052,393, up from last year at this time when 5 grants and contracts were funded totaling $14,238,816.

USDA has also funded 4 credit sales representing $304,961.

Multi-Family Housing Programs

USDA’s Section 538 Multifamily Housing obligated 48 loan guarantees totaling $72,502,085, down from last year’s 60 loan guarantees ($82,500,369.) In the Section 515 Rural Rental Housing program, there were 30 loans totaling $22,963,582 obligated compared to 14 loans totaling $12,095,965 this time last year. There has been 1 MPR loan totaling $537,865 and no grants obligated compared to 15 loans and 2 grants representing $15,650,054 and $251,260 this time last year.

In the Farm Labor Housing programs, 2 loans and 2 grants have been funded totaling $2,070,000 and $1,400,000 respectively. Last year in April, there were no loans or grants.

No Section 533 Housing Preservation grants obligated so far this year, similar to this time last year.

USDA obligated funds for 155,727 rental assistance units under the Section 521 Rental Assistance program totaling $807,221,198 million. This compares to 133,633 units ($662,237,636) obligated same time last year. There were also 3,843 Rural Housing Vouchers totaling $16,991,439 compared to 3,763 vouchers representing $15,497,346 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.

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

As of the end of March, USDA obligated 43,419 loans, loan guarantees, and grants totaling about $6.0 billion. This is about $2.4 billion less than obligation levels from the same time last year when there were 60,977 loans, loan guarantees, and grants obligated totaling about $8.5 billion.

The agency has been operating under several continuing resolutions and a 35-day government shutdown since October 1, 2019.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 $5.7 billion (39,465 loan guarantees) down from $8 billion (54,826 loan guarantees) at the same time last year.

For the Section 502 Direct program, there have been about $290.5 million (1,848 loans), down from $404.7 million (2,742 loans) in loan obligations this time last year. Very low-income (VLI) loan obligations as a percentage of the total Section 502 Direct loan dollars was about 38 percent.

The Section 504 Repair and Rehabilitation programs obligated 881 loans representing about $5.1 million. Loan volume was down from this time last year (1,296 loans representing $7.7 million.) There were also about $7 million (1,165 grants) obligated in the Section 504 grant program compared to $12.5 million (2,019 grants) at the same time last year.

USDA’s Section 523 Self Help Housing Grant program funded 5 grants totaling $3.4 million which is up from last year at this time when funding totaled $1.5 million.

USDA has also funded 4 credit sales representing $304,961.

Multifamily Housing Program Highlights

USDA’s Section 538 Multifamily Housing obligated 45 loan guarantees totaling $64.7 million, down from last year’s 55 loan guarantees ($74.7 million.) In the Section 515 Rural Rental Housing program, there were 3 loans totaling $4.4 million obligated compared to 10 loans totaling $10.1 million this time last year. One MPR loan totaling $537,865 and no grants have been obligated compared to 14 loans ($13.7 million) and 1 grant ($15,400) this time last year.

In the Farm Labor Housing programs, 1 loan and 1 grant have been funded totaling $1.5 million and $700,000 respectively. Last year in March, there were no loans or grants.

There were also no Section 533 Housing Preservation grants obligated so far this year, compared to one loan last year totaling $21,417.

USDA obligated funds for 97,788 rental assistance units under the Section 521 Rental Assistance program totaling $490.5 million. This compares to about 98,728 units ($497.7 million) obligated same time last year. There were also 3,135 Rural Housing Vouchers totaling $13.5 million compared to 3,237 vouchers representing $13.6 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.