Section 538 loans in South Dakota
USDA's public file lists 3 Section 538 guaranteed loans in South Dakota, $3,311,704 in all, financing 119 apartments. 3 of them also used housing tax credits. The median loan covered 25% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC2
- BELLWETHER ENTERPRISE REAL ESTATE1
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 |
|---|---|---|---|---|---|
| Southcliff Falls Harrisburg · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2026 | $1,195,970 | 26% | 44 | - / $509 / $604 |
| Apple Creek Apartments Yankton · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,005,734 | 19% | 44 | - / $436 / $496 |
| The Landing Mitchell · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2015 | $1,110,000 | 25% | 31 | - / $602 / $720 |