Section 538 loans in Washington
USDA's public file lists 25 Section 538 guaranteed loans in Washington, $60,792,367 in all, financing 1,096 apartments. 22 of them also used housing tax credits. The median loan covered 40% of total development cost.
Lenders on these loans
- CHURCHILL MORTGAGE INVESTMENT LLC14
- BONNEVILLE MORTGAGE COMPANY, LLC8
- BELLWETHER ENTERPRISE REAL ESTATE3
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 |
|---|---|---|---|---|---|
| Woodsvilla Apartments Elma · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $3,300,000 | 43% | 44 | - / $1,340 / $1,465 |
| Rhine Village White Salmon · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2023 | $1,850,000 | 26% | 36 | - / $1,050 / $1,315 |
| Vineyard 1 & 2 Apartments Grandview · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $4,740,000 | 46% | 52 | $892 / $1,032 / $1,144 |
| Paisley Place Apartments Sunnyside · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $9,920,000 | 41% | 112 | $918 / $1,023 / $1,185 |
| Chestnut Grove Moses Lake · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $1,650,000 | 40% | 23 | $1,039 / - / - |
| Cambridge Cove Oak Harbor · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $1,710,000 | 43% | 37 | $619 / $648 / - |
| Silvercrest Silverdale · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $2,600,000 | 55% | 42 | $567 / - / - |
| Wesley Point Arlington · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $2,000,000 | 33% | 23 | $765 / $882 / - |
| Conifer Ridge Senior Apartment Port Orchard · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $2,185,000 | 30% | 39 | $665 / - / - |
| Oak Harbor Ridge Oak Harbor · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $11,100,000 | 48% | 155 | $728 / $781 / $849 |
| Berg Rose Leavenworth · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $1,086,800 | 35% | 29 | $604 / $604 / $654 |
| Huntington Court I & II Ellensburg · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $1,127,900 | 30% | 44 | $497 / $642 / - |
| Cashmere Park Cashmere · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $643,000 | 27% | 24 | $538 / - / - |
| Park Village I & II Selah · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $1,772,871 | 33% | 48 | $527 / $568 / $614 |
| Killion Court Yelm · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $905,368 | 35% | 20 | $832 / $999 / - |
| Saratoga Springs Shelton · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $1,305,000 | 31% | 41 | $565 / $660 / - |
| Ashford House I And II Belfair · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $717,000 | 12% | 48 | $586 / $674 / - |
| Wellington Apts Marysville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2012 | $3,702,958 | 52% | 68 | $725 / $800 / $900 |
| Harmony House Shelton · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2012 | $1,134,695 | 45% | 30 | $700 / $800 / - |
| Woodgate Apartments Burlington · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2012 | $1,890,000 | 53% | 40 | $675 / - / - |
| Chelsea Apts Oak Harbor · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2012 | $1,463,860 | 48% | 40 | $710 / $850 / - |
| Newport Apartments Oak Harbor · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2012 | $767,915 | 43% | 16 | - / $725 / $850 |
| Golden Elm Apartments Enumclaw · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2010 | $1,715,000 | 45% | 35 | $685 / $800 / - |
| Bayside Apartments Anacortes · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2010 | $610,000 | 26% | 20 | - / $550 / - |
| Apple Valley Apartments Lynden · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2010 | $895,000 | 33% | 30 | $545 / $700 / - |