Section 538 loans in New Mexico
USDA's public file lists 20 Section 538 guaranteed loans in New Mexico, $30,944,400 in all, financing 1,352 apartments. 19 of them also used housing tax credits. The median loan covered 25% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC17
- LUMENT REAL ESTATE CAPITAL, LLC1
- NEW MEXICO MORTGAGE FINANCE AUTHORITY1
- ALLIED HOME MORTGAGE CAPITAL CORPORATION1
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 |
|---|---|---|---|---|---|
| North Star/san Miguel Las Vegas · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $3,278,096 | 42% | 80 | $700 / $778 / $866 |
| Inspiration Heights Ruidoso · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $1,265,000 | 26% | 48 | $685 / $790 / $940 |
| Ruth Visage Portales · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $724,000 | 25% | 26 | $780 / $912 / $1,001 |
| Penasco Artesia · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $1,471,500 | 65% | 40 | $660 / $760 / $840 |
| Cliffside I, II & III Gallup · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $2,727,863 | 28% | 107 | $551 / $661 / $761 |
| Sandia Vista Apts. Bernalillo · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $1,359,305 | 38% | 41 | $495 / $555 / $585 |
| Pinos Blancos I-II Bloomfield · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $2,619,671 | 90% | 69 | $475 / $550 / $700 |
| Cliffside I - III Apartments Gallup · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $600,000 | 6% | 107 | $660 / $717 / $766 |
| Rio Mimbres Deming · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $2,155,731 | 45% | 60 | $555 / $620 / $735 |
| Columbus Columbus · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $127,000 | 5% | 24 | - / $625 / $925 |
| Franklin I-V Anthony · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $4,060,234 | 38% | 136 | $575 / $640 / $755 |
| Dona Ana 6 Anthony · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2017 | $5,075,000 | 27% | 204 | $530 / $595 / $685 |
| Falcon Ridge Apts Hatch · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2011 | $1,332,000 | 13% | 72 | $395 / $490 / $650 |
| Casa Linda Mfh 2007 Silver City · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $550,000 | 20% | 41 | $375 / $435 / - |
| La Villa Elena Mfh 2007 Bernalillo · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $177,000 | 6% | 54 | $450 / $550 / - |
| Rio Abajo Mfh 2007 Truth Or Consequences · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $350,000 | 11% | 42 | $475 / $575 / - |
| Sage Mfh 2007 Gallup · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $323,000 | 11% | 44 | $500 / $600 / - |
| Southview Place Mfh 2007 Lovington · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $549,000 | 19% | 48 | - / $550 / - |
| Mariposa Village Deming · New Construction · LIHTC · NEW MEXICO MORTGAGE FINANCE AUTHORITY | 2003 | $1,300,000 | 34% | 60 | $545 / $645 / - |
| Church Rock Estates II Church Rock · New Construction · ALLIED HOME MORTGAGE CAPITAL CORPORATION | 2003 | $900,000 | 12% | 49 | - / - / $179 |