Loan Programs

221(d)(4)
Apartments
New Construction
Substantial Rehabilitation

  • 40 Year Fixed Rate Fully Amortized
  • 90% Loan to Value
  • 1.11% Debt Coverage Ratio
  • No Personal Liability
  • Fully Assumable
  • Rate Locked Prior to Construction

223(f) & 232/223(f)
Purchase and Refinance
Apartments
Assisted Living Facilities
Nursing Homes

  • Up to 35 Year Term
  • Fixed Rate Fully Amortized
  • 85% Loan to Value
  • 1.1765% Debt Coverage Ratio
  • No Personal Liability
  • Fully Assumable
  • Cash out options available based on LTV (Apartments only)

232
Nursing Homes & Assisted Living Facilities
New Construction
Substantial Rehabilitation

  • 40 Year Fixed Rate Fully Amortized
  • 90% Loan to Value
  • 1.11% Debt Coverage Ratio
  • No Personal Liability / Fully Assumable
  • Rate Locked Prior to Construction

223(a)(7)
Refinance of Existing FHA-Insured Mortgages
Apartments

Assisted Living Facilities
Nursing Homes

  • up to 40 Year Fixed Rate Fully Amortized
  • Fully Amortized
  • 1.11% Debt Coverage Ratio
  • No Personal Liability