Senior Housing & Healthcare Facilities

Acquisition or Refinance
Senior Housing/Healthcare
New Construction or Substantial Rehabilitation

Refinance of Existing FHA Insured Loan
HCM is a LEAN approved lender and offers financing for the acquisitions, construction, substantial rehabilitation or refinance of existing debt on all types of healthcare facilities through FHA. The types of facilities that we finance include skilled nursing, assisted living, and memory care facilities (up to 25 – 30% of a healthcare facility can have an independent living component).

Highland Commercial Mortgage’s FHA LEAN underwriting expertise simplifies the application process and reduces the time needed to obtain funding. Our experienced originators can guide our clients through all of the options and advise on the merits of each.

Refinance of Existing FHA Healthcare Insured Loan HUD Section 232(a)(7)
This FHA program is designed to allow borrowers in existing FHA insured loans to lower the interest rate, extend the term, fund project repairs and increase the replacement reserve. For-profit and not-for-profit borrowers may apply for FHA mortgage insurance under this program.
Qualified properties that are eligible are those with FHA insured loans.

Acquisition or Refinance HUD Section 232 pursuant to 223 (f)
This loan program provides non-recourse, assumable financing for the purchase or refinance of existing assisted living, memory care and intermediate or skilled nursing facilities. An independent living component no greater than 25% to 30% of the total units is allowable.
This facility must have been completed, or substantial rehabilitation completed, for at least three years prior to the date of the application to qualify. Projects with additions completed less than three years are eligible as long as the addition was not larger than the original project size and number of beds.

New Construction or Substantial Rehabilitation HUD Section 232
This program provides non-recourse, assumable construction and permanent financing to build new or substantially rehabilitate Assisted Living, Memory Care, and Intermediate or Skilled Nursing facilities. Qualified properties include new construction or substantial rehabilitation of Assisted Living, Memory Care, and Intermediate or Skilled Nursing Facilities.

Section 232 provides mortgage insurance for the construction or rehabilitation of skilled nursing and assisted living facilities.

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Section 232/223(f) provides mortgage insurance for the refinance or acquisition of skilled nursing and assisted living facilities with no equity take-out.

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Section 232/223(a)(7) provides mortgage insurance for the refinance of currently FHA-insured properties including skilled nursing and assisted living facilities

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