Section 538 loans in Delaware

USDA's public file lists 4 Section 538 guaranteed loans in Delaware, $3,023,086 in all, financing 412 apartments. 4 of them also used housing tax credits. The median loan covered 3% of total development cost.

Lenders on these loans

BONNEVILLE MORTGAGE COMPANY, LLC4

Lender names as USDA records them. Open Country is not affiliated with any lender listed.

Source: USDA Rural Development, Section 538 guaranteed loan public data (as of October 19, 2026). Rents are average contract rents USDA recorded for each bedroom size.
Project	Closed	Loan	Loan to cost	Units	1BR / 2BR / 3BR rent
Greenside Manor Apartments Seaford · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC	2012	$808,086	12%	40	$675 / $725 / -
Hollybrook Farms Laurel · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC	2010	$465,000	3%	124	$569 / $629 / $679
Hollybrook Farms Laurel · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC	2008	$1,500,000	9%	124	$569 / $629 / $679
Hollybrook Farms Laurel · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC	2008	$250,000	2%	124	$569 / $629 / $679