The U.S. Department of Agriculture’s (USDA) Rural Housing Service has announced the implementation of a $10 million demonstration program under its Section 538 Guaranteed Rural Rental Housing Program to test the viability of the concept of providing a continuous loan note guarantee through the construction and permanent loan phases of a project. Selected projects will be offered one loan note guarantee at the time of closing of the construction loan. This guarantee will be in place throughout the project’s construction and permanent phases. The announcement provides details on the demonstration program’s guidelines and selection process. Read More…