Section 538 loans in Wisconsin
USDA's public file lists 4 Section 538 guaranteed loans in Wisconsin, $5,307,160 in all, financing 115 apartments. 4 of them also used housing tax credits. The median loan covered 21% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC2
- MERCHANTS CAPITAL CORP.1
- FIRST NATIONAL BANK OF RIVER FALLS1
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 |
|---|---|---|---|---|---|
| Trolley Station Terrace Marinette · New Construction · LIHTC · MERCHANTS CAPITAL CORP. | 2020 | $1,800,000 | 18% | 45 | $554 / $700 / $772 |
| Heritage Cottages Phase II Hudson · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2010 | $832,000 | 21% | 22 | $470 / $901 / - |
| Windmill Place River Falls · New Construction · LIHTC · FIRST NATIONAL BANK OF RIVER FALLS | 2009 | $1,125,160 | 29% | 24 | $528 / $664 / - |
| Heritage Cottages Hudson · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $1,550,000 | 38% | 24 | $563 / $895 / - |