Loan Programs


Construction or Rehabilitation

The HUD 232 program provides 40 year fixed rate, 75-85% LTV, fully amortizing, non-recourse financing nationwide for the construction or rehab of intermediate care, board and care, residential care, skilled nursing facilities, and assisted living facilities. An independent living component no greater than 25% of the total units is allowable.

To qualify, properties must accommodate 20 or more residents (20 or more beds) who require skilled nursing care and related medical services, or residents who are in need of minimum but continuous care provided by licensed or trained personnel. Facilities must offer residents three meals a day under these program guidelines.

Operating leases to qualified facility operators are permissible, subject to HUD approval. Major movable equipment, day-care facilities, and fire safety equipment may be financed under the 232 Program. Intermediate care facilities, board and care facilities, and skilled nursing facilities must be licensed or regulated by an appropriate governmental entity. Any geographic location is potentially acceptable. Financing under this program is not available for properties charging "up-front" or "founder's fees". New Resident assessment fees are permitted.

HUD loans can be assumed by investors and retain the original interest rate, making HUD an excellent option for long term investment scenarios or short term holds. Unlike bank financing where a permanent loan is secured after the construction loan, with HUD the construction to permanent is all in one, and the interest rate is locked in prior to construction, which mitigates interest rate risk in a rising rate environment. Construction interest payments are also capitalized in the mortgage amount.

Typically, the 232 program takes about 6 months to complete, and provides 40 year fixed rate financing. 

Creative Solutions

As a direct HUD lender we offer the highest leverage, non-recourse, fixed rate loans available nationwide. 

Each loan is underwritten by experienced healthcare professionals who understand both the challenges facing healthcare providers and potential market opportunities.

We realize that there are many financial terms and conditions, such as loan to values, debt coverage ratios, and prepayment issues that a borrower needs to fully understand prior to determining the best option. We invite you to call us, and we will prepare a free financial analysis which clearly outlines all your options.


  • 40 Year Fixed Rate
  • Non-Recourse
  • Assumable
  • Declining Prepayment