Empowering Your Vision with Confidence and Affordability

The FHA loan programs are safe and affordable ways to get the money you need to buy, build, refinance, or fix up your nursing home, assisted living center, or memory care unit. These programs, backed by the U.S. government, are better than regular loans in several ways, making them a good choice for people building or owning senior homes.

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Benefits of FHA/HUD Loans

Lower Down Payments: A down payment of at least 10% is usually needed for an FHA loan. Some HUD programs offer loans with rates as low as 10%. Compared to regular loans, which typically require 20% or more down, this requires much less money upfront.
Government-Backed Security: FHA and HUD loans are less risky for lenders because the federal government backs some of them. This means borrowers will get better interest rates and more flexible loan options.
Streamlined Process: Applying for an FHA or HUD loan is usually faster and easier than applying for a traditional loan. This helps you get the money you need to move your job along quickly.

Eligible Project Types

FHA and HUD loans can be used for many types of senior living projects, such as

Assisted living facilities
Memory care units
Skilled nursing facilities
Senior housing projects with independent living units
Rehabilitation and expansion of existing facilities

FHA vs. HUD Loan Programs

Feature	FHA Loan (Section 232)	HUD Loan (Section 223(f))
Minimum Down Payment	Minimum 10%	Minimum Down is 25%
Maximum Loan-to-Value Ratio (LTV)	Upto 90%	Upto 85%
Eligible Borrowers	For-profit and non-profit entities	Primarily non-profit entities
Eligible Project Types	New construction, acquisition, refinance, and substantial rehabilitation	Primarily refinance of existing debt

Choosing the Right Program

The FHA or HUD loan program best for your project will depend on your needs and situation. Here are some things to think about:

Project Type: Are you constructing from scratch, buying, refinancing, or remodeling?
Down Payment Availability: How much money can you invest right away?
Borrower Type: Profit company?
Project Goals: Do you want to eliminate debt or make your facility bigger?

Additional Considerations:

Prevailing Wage Requirements: Construction projects with FHA or HUD loans may have to pay the prevailing price. Remember to include the labor cost when determining if a project is possible.
Environmental Reviews: Environmental studies may be needed based on the project size.
Professional Guidance: If you work with an experienced loan expert, they can help you pick the right program, speed up the application process, and get the best loan terms.

Unlocking Your Senior Housing Vision

FHA and HUD loans can help you make your dream of providing excellent care for seniors come true. Senior Housing Lender is a reliable partner with much experience getting FHA and HUD money for senior housing projects. Our team can help you with every step, from choosing a school to applying for a loan and closing.

Contact the Senior Housing Lender immediately for a free meeting and learn how FHA/HUD loans can help your senior housing project.

Still, trying to figure out where to start? We can help.

Get your idea for senior housing moving with a free consultation; call Senior Housing Lender right now and see what a difference a committed partner can make.

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Fund your senior housing project. Nursing homes, Assisted Living, etc. Innovative financing. Fixed-rate loans exist. Contact us now!

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📞 (855) 904-6835