RHS: Multifamily Housing Preservation Pilot and Multifamily Housing Guaranteed Loan Notice of Loan-to-Cost Percentage Change for Option 3 (Continuous Guarantee)

Federal Register

Sep 25, 2026

Notice from the U.S. Department of Agriculture (USDA) Rural Housing Service (RHS) implementing the Multifamily Housing (MFH) Preservation Pilot and announcing the Multifamily Housing Guaranteed Loan Notice of Loan-to-Cost Percentage Change. RHS will use the MFH Preservation Pilot to determine if it can improve program delivery efficiency for transactions that facilitate preservation of low-income housing units in rural America while maintaining appropriate risk management of the portfolio. The loan-to-cost change updates the maximum loan-to-cost percentage for Section 538 loans guaranteed under Option 3 (Continuous Guarantee) from 70% to 80%, and is separate from the Pilot. The Multifamily Housing (MFH) Preservation Pilot will operate between October 9, 2026, and September 25, 2028.

Funding · Housing and homelessness · Legislation and regulations