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FNMA Healthcare Loans

Refinance, Cash-Out and Purchase Loans

Nationwide

$5 Million+

4 to 5.5% fixed

Term: 20, 25 and 30 year fully amortizing OR 5, 7, 10, 15 or 18-year balloon loans

LTV: 75% of appraised value 

Property types:

  • Stabilized independent living (IL) 
  • Assisted living (AL) 
  • Memory care properties (MC)
  • Skilled nursing
  • Buy-In & Rental Continuing Care Retirement Communities (CCRC’s)

Nonrecourse

Requires 90%+ occupancy preceding 90 days, fully sprinklered & 80%+ of beds private pay 

Supplemental Loans available. 

Coverage minimum: 1.30x for properties with 50%+ independent living; 1.40x for properties with assisted living 50%+; for stand-alone memory care properties 1.45x; skilled nursing facilities 1.50x

Borrower:

  • Domestic single asset LLC, Corporation or other entity required
  • Ownership and management must have previous experience with properties of similar type, size and service level

Interest Rate: Risk-based pricing; Fixed rate benchmarked on associated Treasury Bill; Variable rate benchmarked on 30 or 90day LIBOR; Low leverage, large or pooled transactions may qualify for reduced pricing.

Prepayment: Yield maintenance and graduated prepayment

Third Party Reports: MAI Appraisal, Physical Needs Assessment, Environmental Phase I & Operations Assessment required; Seismic Report in Zones 3 and 4; Regulatory Compliance Report required for licensed properties.

Reserves: Tax, insurance, repair and replacement escrows required based on greater of engineer’s Physical Needs Assessment or $300 per unit per year.

Application Fee: $25,000 covers underwriting costs and third-party reports.

Origination Fee: 1% of loan amount

Lender Legal Fees: $25,000 (varyies with transaction characteristics) 

Good Faith Deposit: 2% of loan amount; 75% refundable at closing & 25% refunded at loan delivery

Timing: For new borrowers, 60-90 days from commencement of pre-screen process to closing; dependent on 3rd party report timing and Borrower’s submission of completed loan docs; Timing reduced for repeat borrowers.

Rate lock after borrower acceptance of commitment; Early rate lock and extended rate lock available to lock rate 45 to 180 days before closing

Let’s Move your project forward…

Please click blue FNMA Healthcare Loan Link for FREE PRE APPROVAL LOI within 24 business hours. With a few clicks of your mouse it TAKES LESS THAN 3 MINUTES TO GET STARTED NOW. No upfront fees, credit cards, Social Security Numbers or credit checks required.

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