232 LOAN PURCHASE OR REFINANCE

Senior Housing/Healthcare
Section 232
Acquisition or Refinance

Summary:
Insured mortgages may be used to finance Acquisition or Refinance of Assisted Living, Board and Care, Skilled Nursing Facilities (Nursing Homes) and Special use facilities such as Alzheimer’s or alcohol and drug treatment facilities. Facilities must be licensed. Limited Independent Living units may be allowed, subject to limitations and conditions.

Eligible Borrowers:
• Single Asset Entity
• For profit or non profit

Terms:
• Up to 35 Years

Loan Benefits:
• Non-recourse
• Fully assumable
• credit enhancement of Housing Bonds providing for AAA rating

Eligible Properties:
• Assisted Living Facilities
• Skilled Nursing Facilities (Nursing Homes)
• Board and Care Facilities
• Special Uses such as Alzheimer, drug/alcohol Treatment Facilities

Rates:
• Fixed for the length of the mortgage

Processing:
• Eligible for Multifamily Accelerated Processing (MAP).

Liability Insurance Requirement:
• Required limits apply