Best Rural Multifamily Execution “538 Guaranteed Loan Program”

• 90% Federal Guarantee of loan to foster lending in rural areas
• Up to 40-year amortization
• No Davis-Bacon wage requirements.
• No loan cap
• Fixed rate for the life of the loan
• GNMA Securitization to ensure the most competitive rates and terms

Refinance of existing 538 loans

• Minimum 25 yr term up to 40 years fixed rate
• Minimum 1.15 all-in DSC
• Equity requirement 10% of total development cost (3% for non-profit)
• 70% LTC (no LTC restriction for USDA 515 acq/rehabs)
• Min rehab $6500/per unit
• Min 5+ rental units