Section 538 loans in Utah
USDA's public file lists 6 Section 538 guaranteed loans in Utah, $6,004,000 in all, financing 220 apartments. 6 of them also used housing tax credits. The median loan covered 17% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC4
- BELLWETHER ENTERPRISE REAL ESTATE2
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 |
|---|---|---|---|---|---|
| Ashley Valley Apartments Vernal · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,100,000 | 21% | 32 | - / $850 / - |
| Greenbriar Apartments Smithfield · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,313,000 | 17% | 40 | $930 / - / - |
| Mountain View Apartments Payson · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2023 | $71,000 | 1% | 50 | $695 / $824 / $924 |
| Mountain View Apartments Payson · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2021 | $1,420,000 | 11% | 50 | $695 / $824 / $924 |
| Summerhill I Apartments St. George · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $1,090,000 | 35% | 24 | $550 / $585 / $630 |
| Summerhill II Apartments St. George · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $1,010,000 | 31% | 24 | $540 / $575 / $620 |