Section 538 loans in New Jersey

USDA's public file lists 4 Section 538 guaranteed loans in New Jersey, $11,401,976 in all, financing 383 apartments. 3 of them also used housing tax credits. The median loan covered 15% of total development cost.

Lenders on these loans

BELLWETHER ENTERPRISE REAL ESTATE2
BONNEVILLE MORTGAGE COMPANY, LLC1
CENTENNIAL MORTGAGE INC1

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
Bellevue Court Atco · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE	2024	$1,700,000	18%	24	- / $1,316 / $1,441
Newton Town Center Newton · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC	2018	$2,199,943	14%	65	$675 / $1,150 / -
Maplewood, Millstream North,s Wrightstown · Rehab/Repair · CENTENNIAL MORTGAGE INC	2017	$2,502,034	15%	127	$680 / $735 / $780
Mullica West Apartment Mullica Hill · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE	2016	$4,999,999	21%	167	$615 / $700 / $700