Assistance Listing 10.438
Section 538 Rural Rental Housing Guaranteed Loans
AGRICULTURE, DEPARTMENT OF · Rural Housing Service
Assistance Listing 10.438, “Section 538 Rural Rental Housing Guaranteed Loans,” is a federal program administered by AGRICULTURE, DEPARTMENT OF. It provides loan guarantee assistance. GrantsJunction currently tracks 0 open, 0 forecasted and 0 closed opportunities under this listing. The agency reported $177M in obligations for fiscal year 2025.
Program objective
This program has been designed to increase the supply of affordable multifamily housing in rural areas through partnerships between Rural Development and major lending sources, as well as State and local housing finance agencies and bond insurers. The program provides Federal credit enhancement to encourage private and public lenders to make new loans for affordable rental properties that meet program standards.
As published in the SAM.gov Assistance Listing.
Current opportunities under 10.438
No open or forecasted opportunities are currently posted under this listing. Programs often post notices on an annual cycle — see recently closed opportunities below for timing.
Eligible applicants (program level)
- Indian/Native American/Alaska Native Tribal Government (Other than Federally Recognized)
- For-Profit Organization
- Nonprofit Organization
The applicant in this program is the lender. The lender must be approved and currently active with Fannie Mae, Freddie Mac, HUD/FHA insurance programs, Ginnie Mae or be a State or local Housing Finance Agency. A member of the Federal Home Loan Bank System or other lender may be able to participate if they can demonstrate satisfactory experience with multifamily lending.
Program-level eligibility from SAM.gov. Each funding notice sets its own requirements.
Reported obligations by fiscal year
Historical data · not a predictionRange and average of financial assistance (from the listing): Not Applicable.
Source: SAM.gov Assistance Listing 10.438. Hatched bars are agency estimates. These totals do not indicate approval rates.Frequently asked questions
What is ALN 10.438?
10.438 is the Assistance Listing Number for “Section 538 Rural Rental Housing Guaranteed Loans.” Assistance Listing Numbers (formerly CFDA numbers) identify federal assistance programs; individual grant opportunities reference the listing they are funded under.
Who can apply under ALN 10.438?
The SAM.gov listing names these applicant types: Indian/Native American/Alaska Native Tribal Government (Other than Federally Recognized), For-Profit Organization and Nonprofit Organization. Each funding notice under the program sets its own eligibility, so check the specific opportunity.
How much funding does 10.438 provide?
The agency reported $176,613,976 in obligations for FY2025 in the SAM.gov Assistance Listing. These are program-wide totals reported by the agency, not a prediction of future awards.