Section 538 loans in Tennessee
USDA's public file lists 88 Section 538 guaranteed loans in Tennessee, $142,515,184 in all, financing 4,315 apartments. 86 of them also used housing tax credits. The median loan covered 27% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC47
- CHURCHILL MORTGAGE INVESTMENT LLC30
- BELLWETHER ENTERPRISE REAL ESTATE6
- LUMENT REAL ESTATE CAPITAL, LLC5
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 |
|---|---|---|---|---|---|
| Highlander Pointe Apartments Huntsville · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2026 | $372,400 | 9% | 20 | $930 / $1,080 / - |
| Pinetree Village Apartments Centerville · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2026 | $1,584,500 | 22% | 44 | $820 / - / - |
| Robinhood Apartments Springfield · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2026 | $3,200,000 | 29% | 48 | $1,000 / $1,150 / $1,300 |
| Lake Street Apartments Somerville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,760,000 | 44% | 23 | $1,069 / $1,169 / $1,379 |
| Henning Village Apts Henning · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,845,000 | 31% | 32 | $1,207 / $1,288 / - |
| Stanton Village Apartments Stanton · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $3,000,000 | 50% | 40 | $1,104 / $1,182 / - |
| Oakland Apartments Oakland · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,170,000 | 48% | 16 | $1,115 / - / - |
| Bluebird Manor Apartments Brownsville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $2,610,000 | 49% | 36 | $915 / - / - |
| Tipton Village Apts. Covington · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $3,500,000 | 51% | 48 | $959 / $1,182 / - |
| Covington Village Apts Covington · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $3,500,000 | 52% | 48 | $963 / $1,059 / - |
| Trenton Holiday House Apts Trenton · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $3,000,000 | 43% | 52 | $1,165 / - / - |
| Springfield Apartments Springfield · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $3,975,000 | 55% | 60 | $1,088 / - / - |
| Spring Creek Apartments Chapel Hill · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,616,000 | 45% | 24 | $1,054 / $1,104 / - |
| Pleasant Valley Village Apts Dickson · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $2,875,000 | 42% | 48 | $920 / $986 / - |
| Dickson Village Apartments Dickson · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $2,710,000 | 40% | 48 | $884 / $949 / - |
| Avonlea Greene Morristown · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $3,384,242 | 21% | 72 | - / $591 / $642 |
| Jordan Landing South Pittsburg · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $1,639,782 | 24% | 40 | - / - / $546 |
| Cedaridge Apartments Linden · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $483,700 | 16% | 24 | $573 / $615 / $655 |
| Colonial Manor Apartments Tazewell · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $617,900 | 23% | 21 | - / $620 / $700 |
| River Rest Apartments Newport · Other · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $862,200 | 20% | 34 | $638 / $658 / - |
| Tremount Apartments Sneedville · Other · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $1,437,400 | 25% | 45 | $555 / $605 / $652 |
| Forest Cove Apartments Sevierville · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2021 | $3,546,000 | 24% | 96 | $470 / $577 / $666 |
| Fieldstone Village Clarksville · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2021 | $3,996,000 | 26% | 96 | $492 / $629 / $716 |
| Laurel Branch Maryville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2020 | $5,800,000 | 46% | 92 | - / $600 / $700 |
| Windmere Place Apartments Dunlap · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2020 | $2,126,466 | 17% | 76 | - / $826 / $954 |
| Cumberland View Sneedville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2020 | $1,405,000 | 20% | 51 | $490 / $612 / $737 |
| Douglas Greene Kodak · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2020 | $2,900,000 | 21% | 80 | - / $570 / $650 |
| Stage Road-cannon Manor Apts Woodbury · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2020 | $671,200 | 15% | 42 | $500 / $550 / - |
| Mallard Landing Apartments Manchester · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2020 | $2,440,000 | 21% | 70 | - / $745 / $861 |
| Baileyton Terrace Apartments Greeneville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $2,010,000 | 46% | 40 | $645 / - / - |
| Greeneville Landing Apartments Greeeneville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $1,660,000 | 37% | 40 | $570 / - / - |
| Pleasant Valley Apartments Lynchburg · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $512,400 | 13% | 32 | $521 / $536 / - |
| Jamestown Village Apartments Jamestown · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $1,275,000 | 31% | 40 | $575 / - / - |
| Mountain City Manor Apartments Mountain City · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $2,200,000 | 51% | 40 | $655 / - / - |
| Newport Village Apartments Newport · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $1,145,000 | 29% | 40 | $580 / - / - |
| Tazewell Village Apartments New Tazewell · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $1,710,000 | 45% | 44 | $540 / - / - |
| Island Grove Madisonville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $433,000 | 6% | 48 | - / $455 / $520 |
| Island Grove Madisonville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $1,475,000 | 19% | 48 | - / $455 / $520 |
| Overlook Village Maryville · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2019 | $2,280,100 | 17% | 96 | $487 / $614 / $681 |
| Hidden Valley Apartments Dayton · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $400,000 | 7% | 72 | $445 / $477 / - |
| Mountain View Apartments Sneedville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $545,000 | 13% | 45 | $568 / $514 / - |
| Country Village Jefferson City · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2019 | $5,000,000 | 29% | 140 | $517 / $619 / - |
| Haywood Manor Apartments Brownsville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $810,000 | 30% | 25 | $538 / - / - |
| Highland Gardens Apartments Bolivar · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $849,612 | 35% | 26 | $520 / $580 / - |
| Lawrenceburg Village Apartment Lawrenceburg · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $2,061,405 | 43% | 48 | $550 / $630 / - |
| Savannah Village Apartments Savannah · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $1,699,246 | 36% | 48 | $460 / $522 / - |
| Centerville Village Apartments Centerville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $1,949,469 | 40% | 48 | $498 / $538 / - |
| Waynesboro Village Apartments Waynesboro · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $1,994,495 | 41% | 47 | $520 / $580 / - |
| Beverly Hills Apts. Crossville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,414,000 | 44% | 43 | $467 / $530 / - |
| Bluegrass Village Somerville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,577,000 | 46% | 40 | $534 / $642 / - |
| Brookwood Apartments Gainesboro · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $754,000 | 23% | 44 | $416 / $496 / - |
| Cambridge Apartments Dover · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,757,000 | 50% | 48 | $417 / $442 / - |
| Cedars Apartments Maynardville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $866,000 | 26% | 41 | $495 / $505 / - |
| Cherokee Square Apts. Rogersville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $518,000 | 21% | 31 | $429 / $449 / - |
| Clearview Apartments White House · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,642,000 | 47% | 48 | $500 / $531 / - |
| Creekwood Apts. Carthage · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $923,000 | 36% | 32 | $435 / $528 / - |
| Fentress Oaks Apartments Jamestown · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $699,000 | 30% | 32 | $416 / $496 / - |
| Forest Oaks Apartments Ashland City · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $314,000 | 9% | 41 | $535 / $560 / $585 |
| Heritage Villas Milan · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,254,000 | 32% | 49 | $418 / $443 / - |
| Oakwood Village Apartments Westmoreland · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $873,000 | 64% | 25 | $533 / $538 / - |
| Partridge Meadows Mcminnville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,248,000 | 33% | 48 | $406 / $426 / - |
| Red Oak Apartments Camden · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,219,000 | 40% | 39 | $443 / $468 / - |
| Shamrock Apartments Erin · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,320,000 | 45% | 43 | $390 / $415 / - |
| Southwood Apartments Savannah · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $779,000 | 23% | 44 | $408 / $438 / - |
| Stone Gate Apts. Maynardville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $881,000 | 35% | 32 | $485 / $525 / - |
| Suncrest Apts. Newport · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $766,000 | 30% | 32 | $410 / $445 / - |
| Sycamore Trace Apts. Bulls Gap · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $444,000 | 18% | 32 | $452 / $520 / - |
| Golden Oaks Village Lafayette · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $437,345 | 10% | 57 | $342 / - / - |
| The Villas Of Savannah Savannah · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2015 | $783,000 | 12% | 48 | $403 / $493 / - |
| Crescent Park Estates Alamo · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2015 | $1,200,000 | 25% | 32 | - / - / $582 |
| Paddock Ridge Apts. Shelbyville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2014 | $915,000 | 14% | 58 | - / $509 / $600 |
| East Haven Apts. Fayetteville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2014 | $750,000 | 14% | 40 | $370 / $450 / $585 |
| Beasley Pointe Dickson · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2014 | $2,650,000 | 29% | 64 | $425 / $555 / $685 |
| Kelly Pointe Lenoir City · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2014 | $2,100,000 | 27% | 56 | $569 / $683 / $789 |
| Franklin Pointe Clinton · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2014 | $3,210,000 | 34% | 72 | $569 / $683 / $789 |
| Mountain Hollow Elizabethton · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $975,000 | 14% | 48 | $335 / $420 / $500 |
| Monroe Ridge Apartments Sweetwater · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $1,140,000 | 17% | 48 | $435 / $518 / $601 |
| Jeffrey Meadows Lexington · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $750,000 | 15% | 40 | $356 / $446 / $491 |
| Barton Greene Greeneville · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2012 | $550,000 | 7% | 50 | $403 / $478 / - |
| Gist Creek Apartments Sevierville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $1,317,670 | 18% | 48 | $425 / $505 / $575 |
| The Peaks Of Loudon Loudon · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2010 | $1,935,000 | 21% | 82 | - / $480 / $555 |
| Vista Ridge Soddy Daisy · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $72,381 | 1% | 80 | $468 / $625 / $625 |
| Vista Ridge Soddy Daisy · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $2,302,619 | 31% | 80 | $468 / $625 / $625 |
| Creekwood Apartments Lake City · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $403,453 | 14% | 44 | $333 / $375 / - |
| Kensington Forest II Apartment Powell · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $1,049,331 | 27% | 60 | $410 / $485 / - |
| Kensington Forest I Apartments Powell · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $1,626,894 | 48% | 59 | $410 / $485 / - |
| Belle Meade Apartments Knoxville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $225,302 | 5% | 56 | $410 / $485 / - |
| Belle Meade Apartments Knoxville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $836,672 | 20% | 56 | $410 / $485 / - |