As of the end of December, USDA obligated 26,861 loans, loan guarantees, and grants totaling nearly $4.8 billion, over $830 million above this time last year.
The agency is currently operating under a second continuing resolution which provides funding through February 18, 2022.
Single Family Housing Program Highlights
The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated over $4.5 billion (24,760 loan guarantees) up from nearly $3.8 billion (21,758 loan guarantees) last year.
For the Section 502 Direct program, loan obligations totaled nearly $206 million (1,050 loans), compared to last year’s obligation level of $142.4 million (756 loans.) About 30 percent of the loan dollars went to Very Low-income (VLI) applicants. VLI loans represented nearly 35 percent of the total number of Section 502 Direct loans.
The Section 504 Repair and Rehabilitation programs obligated 384 loans and 640 grants representing about $2.6 million and 4.2 million. Loan volume was up from this time last year (317 loans representing almost $1.8 million.) For Section 504 grants, almost $3 million (478 grants) were obligated this time last year.
USDA’s Section 523 Self Help Housing Grant program funded 5 grants and contracts totaling $3.6 million similar to last year’s 5 grants and contracts totaling $3.5 million.
Multi-Family Housing Program Highlights
USDA’s Section 538 Multifamily Housing obligated 13 loan guarantees totaling $39 million, higher than last year’s 7 loan guarantees representing $21.4 million.
The Farm Labor Housing programs funded 1 loans and 1 grants totaling $1,000,000 and $4,000,000 respectively. There were no loans or grants at this time last year.
USDA obligated funds for 37,904 units under the Section 521 Rental Assistance program totaling $225 million compared to 30 units ($150,564) obligated same time last year. There were also 1,102 Rural Housing Vouchers totaling $5.4 million compared to 945 vouchers representing $4.8 million this time last year.
* 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 email@example.com.