Section 538 loans in Vermont

USDA's public file lists 3 Section 538 guaranteed loans in Vermont, $3,635,000 in all, financing 115 apartments. 3 of them also used housing tax credits. The median loan covered 17% of total development cost.

Lenders on these loans

MASCOMA BANK1
NORTHFIELD SAVINGS BANK1
BELLWETHER ENTERPRISE REAL ESTATE1

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.
Project	Closed	Loan	Loan to cost	Units	1BR / 2BR / 3BR rent
Brookside I St Albans · New Construction · LIHTC · MASCOMA BANK	2009	$1,200,000	17%	37	$625 / $744 / $775
Brookside Apartments Colchester · New Construction · LIHTC · NORTHFIELD SAVINGS BANK	2009	$1,335,000	14%	42	$646 / $805 / $951
Meadowlane Apartments Milton · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE	2008	$1,100,000	18%	36	$795 / $825 / -