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| Nursing Homes, Res Care, Elderly Housing, Hospitals Assisted Living Facilities, Independent Living |
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Corporations, Individuals, Revocable Trusts, maximum 2 member LLC (no sub entities). Must be a single purpose entity.
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| Fixed: Fixed and variable rate programs. Maximum 35 years fixed. |
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| Minimum $500,000 - no max. |
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| Both non-recourse and recourse programs. |
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| Assumable, subject to approval and applicable fees |
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| Range from 1.18 x's to 1.40 x's. |
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| Permitted with consent by lender and acceptable Accounts Receivable form and Intercreditor Agreement |
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| Min. occupancy of 70%. Vacancy will be greater of actual, market or 5% |
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Typically $10,000 for non HUD programs and $25,000 - $30,000 for HUD's 35 year program.
Covers environmental, engineering, appraisal, survey, and AUP reports and some closing costs. |
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| Monthly tax, insurance and replacement reserves to be collected |
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Greater of $300/unit or actual based on engineering report escrowed at closing
125% of repairs required reserve |
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| The greater of actual, market or 5% |
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Include the following in your request for a loan quote:
1. Personal Financial Statement
2. Census Report
3. Past two years financial statements on property
4. Sources & Uses Statement
5. Digital Photos of the property
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