HUD Programs

Healthcare

Construction or Rehabilitation

The HUD 232 program provides non-recourse construction and permanent financing for intermediate care, board and care, residential care, skilled nursing facilities, and assisted living facilities.

To qualify, properties must accommodate 20 or more residents (20 or more beds) who require skilled nursing care and related medical services, or residents who are in need of minimum but continuous care provided by licensed or trained personnel. Facilities must offer residents three meals a day under these program guidelines.

Operating leases to qualified facility operators are permissible, subject to HUD approval. Major movable equipment, day-care facilities, and fire safety equipment may be financed under the 232 Program. Intermediate care facilities, board and care facilities, and skilled nursing facilities must be licensed or regulated by an appropriate governmental entity. Any geographic location is potentially acceptable. Financing under this program is not available for properties charging "up-front" or "founder's fees". New Resident assessment fees are permitted.

Typically, the 232 program takes about 6 months to complete, and provides 40 year fixed rate financing.


Creative Solutions

As direct FHA, HUD and USDA lenders we offer the broadest range of healthcare and senior housing financing solutions available. Our programs provide financing for acquisitions, refinance, new construction and rehab projects. Many programs offer 75-90% financing, non-recourse provisions and low fixed rates for 35-40 years.

Each loan is underwritten by experienced healthcare professionals who understand both the challenges facing healthcare providers and potential market opportunities.

We realize that there are many financial terms and conditions, such as loan to values, debt coverage ratios, and prepayment issues that a borrower needs to fully understand prior to determining the best option. We invite you to call us; we will prepare a free financial analysis which clearly outlines all your options.

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