Nursing Home Loan - Lender FHA 232 LEAN

Loan Rates FHA 223 F FHA 232 Lean Assisted Living Scott Kendall 847-903-7578

noreply@blogger.com (Anonymous) — Fri, 12 Apr 2013 20:30:00 +0000

FINANCING FOR SENIOR HOUSING, NURSING HOMES, ASSISTED LIVING, AND HOSPITALS

noreply@blogger.com (Anonymous) — Wed, 06 Mar 2013 19:17:00 +0000

Owners of multifamily, nursing homes, assisted living facilities, and hospitals have long preferred traditional bank lenders over FHA-based financing. The usual reason is the difficulty and frustration of dealing with FHA versus the relative ease of dealing with sophisticated lenders. Due to the changes from the real estate market crash, the wave of bank consolidations, and the reluctance of the remaining banks to return to lending, owners should reexamine their traditional views of FHA financing.

Traditional financial institutions no longer securitize senior multifamily and health care loans, thereby eliminating the availability of conduit financing for these projects. We have not yet seen the end of the foreclosure crisis and if banks incur addition losses, bank financing for these types of projects will be almost impossible to obtain.

FHA, on the other hand, has improved its process dramatically. FHA-based financing has always offered several significant advantages over traditional bank and conduit lending sources if one was willing to deal with the red tape. Much of that red tape has now been removed or streamlined and programs to finance hospitals have been added. The most obvious advantage to FHA is continued credit availability that is unaffected by the subprime fiasco. Additional advantages are lower fixed rates, nonrecourse loans, and long-term fully-amortizing debt.

FHA loans do not contain the numerous covenants contained in traditional lending documents and specifically do not contain a debt service coverage requirement. As markets evolve and Medicaid and Medicare reimbursement methodologies are revised, a manager’s ability to maintain a stable and predictable debt service coverage is continually challenged. FHA-based financing will prove especially valuable.

Our principal business is providing FHA-based refinancing for multifamily, nursing homes, assisted living facilities, and hospitals. We pride ourselves on our ability to restructure traditional debt into FHA-based debt and working with owners to develop a program using both traditional and FHA-based financing. Let us help you with your financial needs. Please contact us at your earliest convenience.

Charles Kendall 773-259-7074
kendallrealtyadv@gmail.com

Scott Kendall 847-903-7578
kendallrealty@gmail.com

FINANCING FOR SENIOR HOUSING, NURSING HOMES, ASSISTED LIVING, AND HOSPITALS

noreply@blogger.com (Anonymous) — Wed, 06 Mar 2013 19:14:00 +0000

I'd rather climb up into bed with a rattlesnake than have #MITT #ROMNEY as PRESIDENT #FHA killer #HUD RURAL HOSPITAL NURSING HOME APARTMENT FINANCE AFFORDABLE RENTAL LARGEST SINGLE FAMiLY LENDER

noreply@blogger.com (Anonymous) — Tue, 17 Apr 2012 15:58:00 +0000

I'd rather climb up into bed with a rattlesnake than have #MITT #ROMNEY as PRESIDENT #FHA killer #HUD RURAL HOSPITAL NURSING HOME APARTMENT FINANCE AFFORDABLE RENTAL LARGEST SINGLE FAMiLY LENDER

FHA 223(f) FHA 221(d)(4) FHA 232 LEAN FHA 242

noreply@blogger.com (Anonymous) — Sat, 27 Mar 2010 02:26:00 +0000

FHA 223 F Apartment and Healthcare Loan Program Links:

FHA 223 F - FHA 232 - FHA 242

FHA Nursing Home and Assisted Living Loans Table of LTC and LTV

noreply@blogger.com (Anonymous) — Thu, 25 Feb 2010 16:47:00 +0000

FHA 232 LEAN TABLE

FHA 232 LEAN FINANCING

noreply@blogger.com (Anonymous) — Sun, 18 Jan 2009 03:29:00 +0000

Many owners of nursing homes and assisted living projects have long preferred traditional bank lenders. However, the significant losses from the subprime meltdown—more than $500 Billion—have changed the rules and the ability of traditional lenders to finance loans. Most analysts project additional losses in the near future along with significant losses in automobile loans and credit card loans, which means conditions will become worse before they get better.

These losses force banks and financial institutions to seek capital to supplement their depleted base. Without a sufficient base, banks and financial institutions are unable to make new loans. Despite the infusion of cash from the Treasury, credit has not loosened. The projected size of current and future losses bring into question whether banks and financial institutions have the ability to raise the necessary additional capital and whether or not they will be making many loans in the near future.
The first type of loans that banks will cease making will be loans to nursing home and assisted living providers. Health care is a specialized market, and the number of banks willing or able to make these loans will diminish and the lending terms may become far more onerous. When Letters of Credit come due, banks will not have the ability to renew them.

Therefore, traditional, conventional financing in the near future is all but gone for practical purposes. Fortunately, FHA is rolling out their new LEAN program just as traditional bank and financial company financing is becoming more difficult. FHA recently reengineered its lending program for nursing homes and assisted living facilities by transferring the responsibility to the Office of Insured Health Care Facilities. This transfer has resulted in “THE LEAN PROGRAM,” FHA’s new way of doing business.
This new program addresses the most frequent complaints FHA lenders and facility owners have had with traditional FHA processing: the lengthy processing time, the inconsistent answers, and an inability to complete transactions in a consistently reasonable time frame. The new program promises the ability to close a transaction within thirty days of the day the lender files its application for mortgage insurance.
FHA now not only has a program that is—and always will be—available, offers fantastic terms, but also has the ability to deliver the financing with a rapid turn around, without the previous FHA headaches.

We have over 45 years experience dealing with FHA, and can help you through every step of the way. Each development is unique, of course, and we can help you determine your specific needs and determine the best way to achieve your objectives.

Please call or email us at your earliest convenience.

Very truly yours,

Charles E. Kendall
kendallrealtyadv@aol.com

FHA 232 Lean Nursing Home Financing:

noreply@blogger.com (Anonymous) — Sun, 18 Jan 2009 02:52:00 +0000

The FHA 232 Lean Program will now be accepting New Construction as well as purchase and refinance loans. Fixed Rate 75% to 80% Loan to Values Non-Recourse Loans

Nursing Home Loans

noreply@blogger.com (Unknown) — Sat, 27 Dec 2008 13:46:00 +0000

We are financing nursing home, assisted living and hospital loans, using tax-exempt and taxable GNMA insurance. This give the loan holders a AAA rated GNMA security backed by the United States Government. This is the same program that FHA has profitably offered from many years.

We are working with non-profit and for profit companies and our team will work with you to find you the lowest cost financing method.

Nursing Home Loan Program

noreply@blogger.com (Unknown) — Tue, 09 Dec 2008 15:58:00 +0000

Skilled Nursing/Assisted Living Facility 232- Refinance
85% Loan-to-value, no cash out 75% Assisted Living Facility
35 Year amortization
35 Year Term (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
Lean 1.45 to 1 Assisted Living FHA 232 1:18 Minimum Debt Service Coverage
This loan is always assumable
Third-party expenses and loan costs are financeable.
Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes. For detailed information or a specific quote please call or e-mail.

Nursing Home Loan Rates Coming Down

noreply@blogger.com (Unknown) — Sun, 07 Dec 2008 20:12:00 +0000

The rates and spreads for FHA 232 LEAN loans has come down in recent weeks thank to the action by the federal government to buy these securites.

The rates are now close to 7% for GNMA new construction loans and the low 6% range for refinance loans.

Nursing Home Loans FHA 232 LEAN

noreply@blogger.com (Unknown) — Sun, 07 Dec 2008 19:46:00 +0000

FHA 232 LEAN the fastest 232 program FHA has created:

Long term 35-40 year fixed rate financing, non-recourse low rates due to Government Insurance and Government Support of GNMA and other securities.