Section 538 loans in Massachusetts
USDA's public file lists 2 Section 538 guaranteed loans in Massachusetts, $3,991,357 in all, financing 66 apartments. 1 of them also used housing tax credits. The median loan covered 27% of total development cost.
Lenders on these loans
- CHURCHILL MORTGAGE INVESTMENT LLC1
- MAIN STREET BANK1
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 |
|---|---|---|---|---|---|
| Ashley Court Ashburnham · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $991,357 | 52% | 24 | $875 / - / - |
| Bowers Brook Senior Housing Harvard · New Construction · LIHTC · MAIN STREET BANK | 2012 | $3,000,000 | 27% | 42 | $960 / $1,190 / - |