Details.
Financing to refinance or purchase licensed skilled nursing and rehabilitation, assisted living, memory care, intermediate care, and board and care facilities with limited independent living units. Moderate facility improvements and repairs may be included. Available to for-profit or non-profit single asset, single purpose entities. Fully non-recourse, with no loan amount limits. Terms include fixed interest rates determined by market conditions at rate lock, 35-year amortization or 75% of the property's remaining useful life, required escrows and replacement reserves, and FHA approval for assumption. Certain low leverage and higher DSCR transactions may qualify for HUD Express Lane processing, which aims to issue a firm commitment within 5 business days of submission.