Section 538 loans in Texas

USDA's public file lists 124 Section 538 guaranteed loans in Texas, $256,269,272 in all, financing 6,916 apartments. 122 of them also used housing tax credits. The median loan covered 25% of total development cost.

Lenders on these loans

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.
ProjectClosedLoanLoan to costUnits1BR / 2BR / 3BR rent
Pecan Bend Apartments
Mansfield · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $2,200,000 33% 32 $1,170 / $1,412 / -
Emerald Park Apartments
Whitesboro · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $350,000 3% 76 $994 / $1,111 / -
Emerald Park Apartments
Whitesboro · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $3,000,000 23% 76 $994 / $1,111 / -
West Family Apartments
West · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $685,000 12% 32 $799 / $890 / -
West Family Apartments
West · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $115,000 2% 32 $799 / $890 / -
Gardenwalk Of West Columbia
West Columbia · Rehab/Repair · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $1,250,000 14% 56 $824 / $924 / $1,024
Navasota Manor Apartments
Navasota · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $695,000 11% 40 $685 / $725 / -
Navasota Manor Apartments
Navasota · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2026 $180,000 3% 40 $685 / $725 / -
Boyd South Apartments
Boyd · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2026 $880,000 14% 32 $811 / $932 / -
Whispering Trees Apartments
Carrizo Springs · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2026 $3,400,000 39% 51 $744 / $869 / $105
Cleveland Square Apartments
Cleveland · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2025 $1,700,000 19% 48 $790 / $965 / -
West Columbia Manor Apartments
West Columbia · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2024 $725,000 17% 24 - / $1,004 / -
Chandler Place Apartments
Blanco · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2024 $2,001,839 40% 48 $457 / $563 / $676
Park Ridge Apartments
Llano · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2024 $1,356,672 18% 64 $363 / $483 / $504
Wells Manor Apartments
Wells · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2024 $1,158,872 16% 54 - / $754 / $787
Mill Run Apartments
Elkhart · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2024 $966,377 14% 53 $599 / $715 / -
Silverleaf At Rockport
Rockport · New Construction · BONNEVILLE MORTGAGE COMPANY, LLC
2024 $3,727,670 28% 72 $572 / $671 / -
Bayou Bend Apartments
Waller · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2023 $890,581 15% 56 $585 / $662 / -
Savannahpark Of Keene
Keene · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2023 $500,000 11% 36 $709 / - / -
Cedar Cove Apartments
Sealy · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2023 $915,000 16% 54 $550 / $755 / -
Reserve At Sulphur Springs
Sulphur Springs · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2023 $3,276,000 25% 72 $715 / $900 / -
Maple Park Senior Village
Lockhart · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2023 $271,000 2% 56 $817 / $959 / -
Maple Park Senior Village
Lockhart · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2023 $4,948,000 43% 56 $817 / $959 / -
New Caney Oaks
New Caney · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2023 $1,811,405 15% 101 $614 / $649 / $754
Woodland Estates I
Hempstead · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $902,500 13% 50 $550 / $625 / -
Woodland Estates II
Sweeny · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $570,000 13% 32 $557 / $582 / -
Vernon Pioneer Crossing
Vernon · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2022 $3,000,000 25% 64 $816 / $979 / -
Caldwell Heights Apts
Caldwell · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $2,800,000 26% 72 $680 / $816 / $942
Gardenwalk Of Farmersville
Farmersville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $575,000 13% 32 $500 / $650 / -
Madisonville Estates
Madisonville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $550,000 12% 32 $619 / $729 / -
Somerville Estates
Somerville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $500,000 15% 24 $600 / $700 / -
Silverleaf At Orange
Orange · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $2,750,000 24% 80 $286 / $333 / -
Legacy Trails Of Decatur
Decatur · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2022 $245,000 2% 70 $657 / $789 / -
Pine Hills Estates II
Pearsall · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $640,000 14% 36 $520 / $590 / -
Pine Hills Estates I
Devine · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $500,000 12% 32 $520 / $575 / -
Cypress Creek Apartment Homes
Princeton · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2022 $19,814,600 59% 188 $848 / $1,152 / $1,354
Highlander Senior Village
Bulverde · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2022 $3,675,000 32% 66 $533 / $538 / -
Country Terrace Village
Highlands · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2021 $1,162,395 8% 127 $540 / $566 / $709
Abbington Park
Henderson · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2021 $2,812,500 25% 64 $618 / $717 / -
Abbington Ranch Apts
Boerne · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2021 $4,800,000 49% 48 $728 / $872 / $1,007
Lagrange Springs Apts
Lagrange · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2020 $4,280,000 35% 72 $387 / $465 / $537
Silverleaf At Mason
Mason · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2020 $1,735,000 28% 45 $522 / $626 / -
Raintree Apartments
Alamo · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,467,000 45% 32 $630 / $660 / -
Los Naranjos Apartments
Alton · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,161,000 42% 30 $640 / $735 / -
Vista Verde
Cotulla · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,011,000 37% 24 $680 / $750 / -
Brush Country Cottages
Dilley · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,136,000 39% 28 $767 / $866 / -
Oak Haven
Donna · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $924,000 38% 24 $665 / $700 / -
La Sombra
Donna · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,848,000 37% 50 $565 / $623 / -
Cielo Lindo
Edcouch · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,322,000 39% 34 $659 / $714 / -
La Posada I & II Apartments
Elsa · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $2,387,000 36% 74 $562 / $615 / -
Willowick Apartments
Gainesville · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $2,815,000 42% 60 $653 / $718 / -
Windmill Apartments
Giddings · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,017,000 34% 28 $620 / $695 / -
Leuty Avenue Apartments
Justin · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $845,000 28% 24 $620 / $711 / -
Windwood Apartments I&II
Kinglsand · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $2,160,000 35% 67 $599 / $788 / -
Las Palmas
La Feria · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,353,000 39% 36 $608 / $675 / -
La Reina
La Villa · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,101,000 40% 30 $648 / $733 / -
Silver Trail
Menard · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $718,000 28% 24 $575 / $655 / -
Villa Vallarta
Rio Grande City · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,030,000 28% 40 $530 / $600 / -
Chula Vista
San Diego · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,206,000 26% 44 $552 / $607 / $672
Seagraves Garden
Seagraves · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,153,000 35% 32 - / $683 / $703
La Estancia I
Sebastian · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,402,000 43% 32 $665 / $730 / -
The Village Apartments
Tomball · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $2,321,000 38% 64 $739 / $929 / -
Valley View Apartments
Valley View · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC
2020 $1,172,000 41% 24 $630 / $740 / -
Emma Finke Villas
Beeville · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2020 $1,622,100 22% 76 $434 / $504 / -
Bluff View Senior Village
Crandall · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2020 $3,450,000 38% 48 $711 / $853 / -
Trails Of Brady
Brady · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2020 $2,350,000 24% 72 $367 / $429 / $486
Abbington Vista Of Henrietta
Henrietta · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2019 $2,200,000 27% 48 $530 / $640 / $727
Cedar Ridge Apartments
Dayton · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2019 $1,547,489 16% 80 - / $624 / -
Reserve At Hagan
Whitehouse · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2019 $3,015,000 25% 72 $609 / $726 / $833
Henderson 1575
Los Fresnos · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2019 $5,283,000 38% 80 $534 / $637 / $754
Legacy Trails Of Decatur
Decatur · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2019 $4,900,000 45% 70 $627 / $756 / -
Abbington Hill Of Brownsboro
Brownsboro · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2019 $1,958,968 20% 56 $459 / $551 / $636
Hamilton Crossing
Waller · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2019 $4,180,000 33% 80 $613 / $857 / -
Courtyards @ Crosby
Crosby · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2019 $1,719,784 19% 97 $545 / $580 / $605
Bastrop Oak Grove Apts
Bastrop · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $3,509,000 68% 48 $870 / $925 / -
Bay City Village Apartments
Baytown · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $2,946,700 63% 62 $755 / $880 / $1,062
Burk Village Apartments
Burkburnett · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $688,000 19% 40 $550 / $700 / -
Meadowpark Apartments
Elgin · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $1,691,100 58% 28 $860 / $915 / -
Tom Sawyer Place Apts
Evant · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $719,500 41% 18 - / $630 / $734
Brian Place Apartments
Hondo · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $2,144,400 52% 40 $720 / $820 / $935
Hondo Gardens
Marble Falls · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $1,045,800 37% 32 $685 / $790 / -
Lampasas Gardens Apts
Lampasas · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $440,000 17% 24 $535 / $625 / -
Lantana Apartments
Beeville · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $2,745,300 35% 92 $555 / $666 / -
Albany Village Apartments
Albany · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $1,238,800 29% 40 $605 / $655 / -
Castroville Village Apts
Castroville · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $1,630,800 38% 40 $695 / $795 / $930
Electra Village Apartments
Electra · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $1,144,800 23% 48 $550 / $695 / $895
Pflugerville Meadow Apts
Pflugerville · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $1,212,600 43% 20 $895 / $1,015 / -
Round Rock Oak Grove Apartment
Round Rock · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2018 $1,477,300 46% 24 $855 / $965 / -
Abbingtoncommonsofwhitewright
Whitewright · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2018 $1,991,200 23% 48 $513 / $616 / $711
Alvarado Senior Apartments
Alvarado · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2018 $580,000 20% 24 $575 / $700 / -
Mcgregor Senior Apartments
Mcgregor · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2018 $600,000 16% 36 $500 / $600 / -
Gran Cielo Residences
Rio Grande City · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2018 $2,450,000 23% 80 $310 / $373 / $431
Glades Of Gregory-portland
Gregory · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2018 $2,100,000 19% 72 $509 / $610 / $703
Vista Bella Apts
Lago Vista · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2018 $5,125,000 41% 72 $361 / $430 / $494
The Residence At Wolfforth
Wolfforth · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2018 $1,890,000 22% 49 $586 / $701 / -
Cypress Creek Apartment Homes
Royse City · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2018 $19,605,000 53% 220 $686 / $920 / $1,062
Abbington Junction Of Pottsbor
Pottsboro · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2018 $2,500,000 32% 56 $513 / $587 / $663
Abbington Meadows
Howe · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2018 $3,800,000 44% 64 $100 / $100 / $100
Abbington Glen Of Nash
Nash · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2017 $2,200,000 23% 72 $483 / $550 / $663
Abbington Walk Of Emory
Emory · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2017 $2,085,000 28% 56 $467 / $582 / $660
Riverside Village Apartments
Rio Hondo · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2017 $1,725,000 19% 60 $470 / $539 / $689
Creekside Village
Jacksonville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2017 $777,027 25% 40 - / $470 / -
Heritage Square
Jacksonville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2017 $620,434 18% 40 $385 / $525 / -
Heritage Place
Jacksonville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC
2017 $598,094 17% 40 $445 / $531 / -
Gardenwalk Of Lsw
La Grange · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2017 $650,000 17% 40 - / $373 / -
Stonebridge Of Plainview
Plainview · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2017 $2,300,000 24% 80 $425 / $503 / $690
Orchard Estates Apartments
Alton · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2016 $4,250,000 25% 140 $439 / $718 / $624
Stoneleaf At Fairfield
Fairfield · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2016 $2,376,000 34% 49 $503 / $602 / $803
Canton Village Homes
Canton · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2016 $2,700,000 31% 80 $573 / $614 / $756
Villages Of Penitas
Penitas · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE
2016 $3,432,700 22% 128 $504 / $623 / $728
Stoneleaf At Eustace
Eustace · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2016 $1,819,115 26% 49 $458 / $550 / $749
The Manor At Hancock Park Apts
Lampasas · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2015 $1,470,000 19% 58 $392 / $465 / -
Madison Oaks Apartments
Winnsboro · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2015 $1,500,000 20% 60 $402 / $479 / $532
Liberty Manor Apartments
Liberty Hill · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2015 $3,322,600 29% 68 $617 / $715 / -
La Esperanza De Alton
Alton · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2015 $2,256,468 22% 80 $437 / $507 / $574
La Esperanza Del Rio
Rio Grande City · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2014 $1,442,882 20% 60 $503 / $517 / $682
Red Oak Apartments
Red Oak · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2013 $1,500,000 12% 116 $495 / $570 / -
Legacy Villas
Eagle Pass · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC
2012 $1,425,000 15% 64 - / - / -
The Gardens Of Athens
Athens · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2010 $1,455,825 37% 36 - / $535 / -
The Gardens Of Athens
Athens · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2010 $101,675 3% 36 - / $535 / -
Prospect Point
Jasper · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2009 $950,000 12% 72 $371 / $496 / $581
Prospect Point
Jasper · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC
2009 $250,000 3% 72 $370 / $493 / $579
Las Fresas Apartments
Poteet · New Construction · LIHTC · CENTENNIAL MORTGAGE INC
2008 $768,800 20% 36 $391 / $436 / $521
Fenner Square
Goliad · New Construction · LIHTC · CENTENNIAL MORTGAGE INC
2005 $926,600 35% 32 $363 / $470 / $537