---
title: "What Is USDA Section 515 Rural Rental Housing? | Calibre Glossary"
description: "USDA Section 515 is a Rural Development program of direct loans that finances affordable multifamily rental housing for low-income, elderly or disabled."
url: https://calibre.multisites.ai/glossary/usda-section-515
publisher: Calibre Commercial Inspections
phone: "+1-208-305-6245"
email: Schedule@CalibreCBI.com
---

Financing and lending

# USDA Section 515 Rural Rental Housing

USDA Section 515 is a Rural Development program of direct loans that finances affordable multifamily rental housing for low-income, elderly or disabled residents in rural areas.

## Why it matters

Many aging Section 515 properties need rehabilitation and recapitalization. Lenders and USDA review a capital needs assessment to scope repairs and reserves. Buyers of these properties inherit program rules and physical needs.

Source: [rd.usda.gov](https://www.rd.usda.gov/programs-services/multifamily-housing-programs/multifamily-housing-direct-loans)

[Related Calibre serviceCapital Needs Assessments](https://calibre.multisites.ai/cre-services/capital-needs-assessment)

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