FHA 242 LENDER FHA 242/223(f) Hospital Refinance: FHA 242 223F Hospital Refinance Open long term fixed low rate financing

FHA 242 LENDER FHA 242/223(f) Hospital Refinance: FHA 242 223F Hospital Refinance Open long term fixed low rate financing

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

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

FHA 242 Refinance of Hospitals finally expected to be opened any day OMB

FHA 242 Hospital refinancing is finally gone to be approved very soon.

Looking for long term 25 year fixed rates under 3.5% to increase the Hospital Cash Flow build reserves call soon. (847) 903-7578 Scott Kendall CEO Kendall Realty Commercial Health Care FHA financing.

FHA Apartment Loan Programs - Fannie Mae Freddie Mac Affordable and Market Rate Multifamily Finance

FHA Apartment Loan Programs - Fannie Mae Freddie Mac Affordable and Market Rate Multifamily Finance

What Mitt Romney #GOP #FHA CLOSING MEANS TO YOU home loan health care nursing home

Mitt Romney at private fundraiser: I might eliminate HUD

If GOP hopeful The least popular nominee in eternity Mitt Romney has his way HUD will be killed and presumably so will the FHA programs. It means higher loan rates, no nursing care less rural hospitals and assisted living no aid to poor elderly mostly women for rent

Home Single Family - lowest rate lender

HOME LOAN RATES GO UP 1%

Multifamily Loans only national construction lender rural apartment lender

Hospital - Urban and Rural Hospital loans

fewer new hospitals more rural deaths

Health Care Assisted Living Nursing Home  biggest lender in Country

more expensive private nursing home only option sick parents move home

 It’s election season and the candidate – hoping to appeal to conservatives – wants to stick a knife in HUD/FHA because, well, it’s a cabinet level agency and cutting big government is a red meat move. But first, Romney has to get elected. And if he does, then he has to get such a move through a Congress that presumably will be controlled by the GOP. So, if you think the housing market is tough now, just wait until the FHA program disappears. Of course, I’m sure the private sector is ready, willing and able to fill the void.

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

Healthcare Finance

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 Kendall
President
Kendall Realty Advisors LLC

Apartment Loans

We are now offering a full range of apartment loans. New Construction, Refinance, Seven, Ten, Thirty, Thirty Five and Forty Year Loans depending on program.


Rates for FHA 223(f) including MIP under 6.5%.

FHA 221(d) new construction under 7.5%

Ten Year Loans, Seven Year Loans under 6.35%

Fixed Rates, Non-Recourse 30 to 40 year amortization depending on program.