Section 538 loans in Iowa
USDA's public file lists 7 Section 538 guaranteed loans in Iowa, $13,623,641 in all, financing 470 apartments. 4 of them also used housing tax credits. The median loan covered 51% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC4
- LUMENT REAL ESTATE CAPITAL, LLC3
Lender names as USDA records them. Open Country is not affiliated with any lender listed.
| Project | Closed | Loan | Loan to cost | Units | 1BR / 2BR / 3BR rent |
|---|---|---|---|---|---|
| Center Street Apartments Grinnell · Rehab/Repair · BONNEVILLE MORTGAGE COMPANY, LLC | 2023 | $448,000 | 51% | 12 | - / $644 / - |
| Esw Apartments-acquis/rehab. Earlham · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2017 | $3,830,000 | 51% | 80 | $554 / $595 / - |
| Candleridge Apts. Waukee · Rehab/Repair · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $5,250,000 | 54% | 154 | $548 / - / - |
| RD Preservation III LLLP Emmetsburg · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2011 | $1,385,000 | 72% | 92 | - / $506 / - |
| Scotchview Manor Carlisle · Rehab/Repair · LUMENT REAL ESTATE CAPITAL, LLC | 2009 | $587,500 | 63% | 16 | $525 / - / - |
| RD Preservation II Winterset · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2009 | $1,498,000 | 47% | 72 | $551 / $603 / $770 |
| Greenway Of Oskaloosa Oskaloosa · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $625,141 | 30% | 44 | - / $455 / $607 |