FHA 223(F) Lender

After Years of Waiting its HERE HOSPITAL REFINANCING

2013-02-08T11:53:00.001-08:00

The Office of Hospital Facilities (OHF), a division of the U.S. Department of Housing and Urban Development (HUD), announced the issuance of a new final rule that revises the regulations governing the Federal Housing Administration’s (FHA) Section 242 Hospital Mortgage Insurance Program. This new rule implements FHA's authority to finance hospital acquisitions and to refinance the capital debt of hospitals that do not have FHA-insured mortgages, without requiring substantial construction or rehabilitation. The final rule will be officially published in the Federal Register on February 5, 2013. LINK
Call 773-259-7074 Chuck Kendall to refinance
We work for you save money now before rates rise any more!!! 25 year fixed rate low 4% fixed

Cook County Health seeks early expansion of Medicaid

2012-01-05T06:14:00.001-08:00

Cook County Health seeks early expansion of Medicaid

The Cook County Health and Hospitals System is seeking approval to add thousands of uninsured patients to the Medicaid rolls nearly two years early, a move that could generate millions of dollars in new revenue for the cash-strapped network.

Approval would mean that the public health system would be reimbursed for some of the roughly $550 million of annual free care it now provides. Cook County health system executives decline to say how much revenue they expect to gain. The system treats about 100,000 uninsured patients a year, though that includes people who are ineligible for Medicaid.

The additional revenue could reduce the annual subsidy — $252 million for 2012 — that county taxpayers pay to keep the health system afloat.

Pushing the application through is at the top of the health system’s “life or death” list for financial survival, said Warren Batts, chairman of the independent hospital board that oversees the health system.

The federal health care overhaul calls for a massive enlargement of the Medicaid program in 2014. The expansion is expected to create competition among health care facilities for Medicaid patients, potentially threatening the Cook County health system’s already weakened finances.

The county health system wants the new Medicaid eligibility rules to be applied to its patients later this year instead of waiting until 2014, when federal health care reform begins. Such a move would give the public hospital system a competitive head start on serving the new Medicaid patients.

“When 2014 comes, almost all the people that we would treat would have Medicaid available to them, and unless we perform with a very good patient focus, we’ll end up with a fairly sizable operation with even greater need for a subsidy because we won’t have offsetting revenues coming from regular Medicaid patients,” Mr. Batts said.

The Obama administration already has approved an early start to the new Medicaid rules in four states, according to Menlo Park, Calif.-based Kaiser Family Foundation, which specializes in health care policy.

Apartment Loan Rates FHA 223 F FNMA Small Apartment Loans

2010-07-14T19:53:00.000-07:00

FHA 223 F loan rates have been under 5% for a few months long term fixed rate non-course financing.

FNMA Small loans are fast and have an affordable cost of only $4,500 for all reports. Loan commitments in less than 6 weeks fast closings, great for purchase transactions, 10 year loan fixed for less than 6% non-recourse 20 year amortization.

FHA 223(f) Apartment Loan Waivers Revised

2009-08-03T12:23:00.000-07:00

July 29, 2009 Revised Temporary Waivers of three year rule for Section 223(f)

Property must have a Certificate of Occupancy (CO) dated no later than the date of the loan application. In other words, a waiver is possible for all new properties that are built and have a CO.

Happy Days are here again!

More on FHA 223(f) Waivers

FHA 242/223(f) Hospital Loan Interest Rate Reduction Rule

2009-07-24T17:07:00.000-07:00

New Loan Program Developed Fast Managed Effective the FHA 242/223(f) Hospital Refinance Loan More at:

http://www.kendallrealtyadvisors.com/FHA242-223f-HOSPITALREFINANCE.html

FHA 223F rates

2009-04-23T06:40:00.000-07:00

Rates for FHA 223(f) loans have been in the low to mid five percent range for the last few weeks.

For more information on FHA, Fannie Mae and Freddie Mac Multifamily and Healtycare Lending programs go to www.kendallrealtyadvisors.com

Affordable Multifamily Financing Experts.

APARTMENT REFINANCE LOANS

2008-12-17T17:21:00.000-08:00

FHA 223(f) Terms

2008-12-17T16:58:00.001-08:00

Multifamily Rental Housing - Evanston Financial Corporation Section 223(f)
Acquisition 85% LTC or Refinance 80% to 85% LTV

We also are a national FNMA DUS correspondent offering 80% LTV and ten year loans

Summary: Insured mortgages may be used to finance acquisition or refinance of rental properties consisting of 5 or more units 3-years old or older.

Eligible Borrowers:
• Single Asset EntityTerms:
• Up to 35 YearsLoan Benefits:
• Non Recourse
• Fully assumable• credit enhancement of Housing Bonds for AAA ratingRates:
• Fixed for the length of the mortgageProcessing:
• Eligible for Multifamily Accelerated Processing (MAP).Mortgage Loan
Limitations:Refinance

The maximum insured mortgage will be the lessor of:
• DSC - 1:17
• 85% loan to value (80% if cash out)
• 100% existing debt plus loan costs, including repairs
• FHA’s per unit mortgage limitsAcquisitionThe maximum insured mortgage will be the lesser of:
• DSC – 1:17
• 85% of the loan to value
• 85% of acquisition costs including loan costs and repairs.
• FHA’s per unit mortgage limitsSecondary financing:• Permitted; repayment is subject to
availability of surplus cash, special conditions apply.Prepayment Terms:• Typically 5-Year
lockout with a declining penalty of 1% per year for years 6 through 10, then 0%.