Section 538 loans in Nevada
USDA's public file lists 12 Section 538 guaranteed loans in Nevada, $34,230,046 in all, financing 566 apartments. 12 of them also used housing tax credits. The median loan covered 25% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC7
- CHURCHILL MORTGAGE INVESTMENT LLC4
- PNC BANK, N.A.1
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 |
|---|---|---|---|---|---|
| Fallon Senior Apartments Fallon · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2026 | $7,670,000 | 37% | 85 | $1,300 / $1,420 / - |
| Fallon Family Apartments Fallon · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2026 | $9,770,000 | 48% | 93 | $1,300 / $1,425 / $1,525 |
| Pershing Family Apartments Lovelock · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2026 | $2,080,000 | 36% | 24 | $1,125 / $1,330 / $1,475 |
| Dayton Gold Country Manor Dayton · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2025 | $1,850,000 | 16% | 50 | $523 / $628 / - |
| Mountain View Village Winnemucca · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2023 | $4,000,000 | 39% | 42 | - / $822 / $1,012 |
| Caliente Renaissance Apts Caliente · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $1,550,000 | 30% | 30 | $520 / $624 / $544 |
| Lahontan Springs Apartments Fernley · New Construction · LIHTC · PNC BANK, N.A. | 2021 | $1,757,256 | 38% | 48 | - / $577 / $577 |
| Sandia Manor Apartments Fernley · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $575,000 | 15% | 26 | $525 / $699 / - |
| Desert Properties Apartments Tonopah · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $1,217,170 | 15% | 56 | $575 / $610 / - |
| Sonoma Springs Apartments Winnemucca · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2017 | $1,560,620 | 23% | 32 | - / $688 / $788 |
| Lincoln Senior Housing Panaca · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2016 | $1,300,000 | 25% | 52 | $767 / - / - |
| Summit Crest Apartments Carson City · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2008 | $900,000 | 15% | 28 | - / $771 / $973 |