Skilled Nursing/Assisted Living Facility 232
Refinance, Purchase or New Construction
- 80% to 85% Loan-to-value Refinance and Purchase under LEAN
- no cash out, but FHA is reviewing existing debt payoff rules
- 35 Year amortization existing, 40 years, plus construction, new construction
- 35 Year Term existing, 40 year term new construction (no balloon)
- No maximum loan amount
- Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
- No personal liability (non-recourse)
- Negotiable pre-payment terms
- 1:25 Minimum Debt Service Coverage (lean program)
This loan is always assumable and third-party expenses and loan costs are financeable.
Work with one of the top FHA 232 and Healthcare Lending teams, Chicago, IL We have spent over twenty five years each, lending on Apartments and Healthcare properites using FHA and FNMA programs - National FHA Fannie Mae and Freddie Mac Apartment and Healthcare Loans