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USDA Rural Development Obligations FY 16 – June

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The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2016 USDA Rural Housing program obligations.

As of the end of June, USDA obligated 96,193 loans, loan guarantees, and grants totaling about $12.79 billion. This is less than obligation levels from the same time last year when there were 104,731 loans, loan guarantees, and grants obligated totaling about $13.9 billion.

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Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $11.8 billion (84,548) in loan guarantees. This is about $1.5 billion (11,545) less than the same time last year.

For the Section 502 Direct program, there have been nearly $723.3 million (5,364 loans) in loan obligations so far in FY 2016; about $251.9 million (1,536 loans) more than the same time last year. Very low-income (VLI) loan obligations comprised 31.5 percent of the total Section 502 Direct loan dollars obligated so far this year. Last year at this time, 32.0 percent of the Section 502 Direct loan dollars obligated were for VLI loans.

The Section 504 Repair and Rehabilitation programs obligated 2,165 loans representing $11.7 million. This is 706 more loans or $3.2 million higher than this time last year. There were 3,879 Section 504 grants totaling about $23.8 million. This is $4.4 million (711 grants) more than obligated this time last year.

So far this year, USDA obligated 18 Section 523 grants totaling nearly $11 million and 4 national contracts totaling $6.3 for a total of $17.3 million, 16 fewer grants and $725 thousand less than this time last year. Also, there have been 18 credit sale loans of Single Family properties totaling $1.4 million.

Multi-Family Housing Programs

There have been 76 Section 538 Guaranteed Rental Housing loans obligated so far this year totaling $137.2 million. This represents 41 more loans and nearly $90 million more than this time last year.

For the Farm Labor Housing program, 7 loans for nearly $5.2 million and 6 grants ($9.6 million) have been obligated so far this year. This time last year, there were 4 FLH loans and 3 grants representing about $1.3 million and $3.9 million respectively. There have also been 53 Multifamily Housing Preservation & Revitalization loans or grants ($46.6 million) obligated.

Section 521 Rental Assistance obligations reached $1.096 billion (237,179 units) in March. This is about $96.5 million more (12,495 more units) than this time last year.

There were 4,224 Rural Housing Voucher obligations representing $15.5 million, an increase of 803 units or $3.4 million higher than the same time last year.

Download the combined document.

Individual Program Files

Summary Files

Summary of Rural Development Obligations
Summary Data of Rural Development Obligations Compared to Previous Year
Summary Data of Rural Development Obligations Compared to Previous Month
Summary Chart of Rural Development Obligations
USDA Rural Development Eligible Areas

Single Family Housing Program Obligations

Section 502 Direct Homeownership Total Obligations
Section 502 Direct Homeownership Low and Very Low Obligations
Section 502 Guaranteed Homeownership Obligations
Section 504 Total Home Rehab Obligations
Section 523 Self-Help Technical Assistance Grant Obligations
Section 524 Site Loans Obligations

Multi-Family Housing Program Obligations

Section 514/516 Farm Labor Housing Obligations
Section 515 Rental Housing Obligations
Section 521 Rental Assistance Obligations
Section 533 Housing Preservation Obligations
Section 538 Guaranteed Rental Obligations
Multifamily Housing Tenant Voucher Obligations
Multifamily Housing Revitalization Demonstration Program

Unallocated Program Obligations

Section 306 Water/Wastewater Grant Obligations
Section 509 Compensation for Construction Defects
Multifamily and Single-family Housing Credit Sales

* 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.