Section 538 loans in Pennsylvania
USDA's public file lists 24 Section 538 guaranteed loans in Pennsylvania, $36,021,495 in all, financing 1,180 apartments. 22 of them also used housing tax credits. The median loan covered 26% of total development cost.
Lenders on these loans
- CHURCHILL MORTGAGE INVESTMENT LLC8
- GREYSTONE SERVICING COMPANY LLC6
- BELLWETHER ENTERPRISE REAL ESTATE2
- LUMENT REAL ESTATE CAPITAL, LLC2
- PENNSYLVANIA HOUSING FINANCE AGENCY2
- PNC BANK, N.A.2
- CENTENIAL MORTGAGE1
- BONNEVILLE MORTGAGE COMPANY, LLC1
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 |
|---|---|---|---|---|---|
| Park Place, North & East Muncy · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2026 | $1,904,000 | 26% | 60 | $878 / - / - |
| Spring Brae Bellefonte · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2026 | $2,027,000 | 40% | 36 | $961 / $1,230 / - |
| Oak Ridge Apartments Mountain Top · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2026 | $1,698,000 | 41% | 32 | $960 / - / - |
| Heritage Heights/heritage Hill Pottsville · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2026 | $1,706,000 | 17% | 72 | $795 / $895 / - |
| Woodbryn Mountain Top · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2026 | $1,785,000 | 29% | 40 | $845 / $997 / - |
| Stourbridge Square Apartments Honesdale · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2026 | $2,824,000 | 42% | 58 | $941 / - / - |
| White Valley Apartments Delmont · Rehab/Repair · CENTENIAL MORTGAGE | 2023 | $1,200,000 | 42% | 40 | $843 / $918 / - |
| Shaner Heights Irwin · Rehab/Repair · BELLWETHER ENTERPRISE REAL ESTATE | 2021 | $981,000 | 39% | 16 | - / - / $959 |
| Whites Run Commons Indiana · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $540,755 | 12% | 58 | $650 / - / - |
| Cherry Tree Apartments Albion · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $500,000 | 13% | 33 | $530 / $597 / - |
| Cedar Ridge Apartments Canton · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $1,160,000 | 33% | 34 | $641 / - / - |
| Rock Ledge Apartments Lock Haven · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $681,896 | 21% | 34 | $654 / - / - |
| High Point Manor Frackville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $534,658 | 17% | 33 | $700 / - / - |
| Paul E. Reynolds Troy · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $813,786 | 23% | 33 | $585 / - / - |
| Church Street Commons Lock Haven · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $1,280,000 | 42% | 33 | $723 / - / - |
| Mount Rock Commons Lewistown · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $675,000 | 17% | 41 | $605 / - / - |
| College View Apartments Grove City · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2015 | $3,500,000 | 31% | 103 | $565 / - / - |
| Allegheny Pointe Apollo · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2012 | $1,000,000 | 10% | 52 | - / $230 / - |
| Madison Grove, LLC Slippery Rock · New Construction · LIHTC · PENNSYLVANIA HOUSING FINANCE AGENCY | 2010 | $790,000 | 11% | 50 | $369 / $430 / $471 |
| Village At Somerset Someset · Rehab/Repair · LIHTC · PENNSYLVANIA HOUSING FINANCE AGENCY | 2010 | $3,000,000 | 26% | 101 | - / $1,002 / $1,181 |
| Ridgewood Greene Reynoldsville · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2008 | $500,000 | 9% | 40 | $369 / $430 / $471 |
| Allegheny Hills Retirement Res East Brady · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2008 | $3,470,400 | 28% | 79 | $500 / $666 / - |
| Crossroads Meadow Ebensburg · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $1,700,000 | 31% | 51 | $430 / $495 / $565 |
| Hickory Meadow Indiana · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $1,750,000 | 29% | 51 | $385 / $465 / $530 |