Bountiful Healthcare

Healthcare

Finance is available for acquisition, construction, substantial rehabilitation or refinance your existing debt on all types of healthcare properties through the FHA as well as our conventional lending partners. The types of facilities that we finance include:

   • Skilled Nursing Facilities (Nursing Homes)
   • Long Term Acute Care Facilities (LTACs)
   • Intermediate Care Facilities
   • Board and Care Homes
   • Assisted Living Facilities
   • Continuum of Care Retirement Communities (CCRCs)
   • Hospitals and Surgery Centers
 
232 loans are for for new construction and substantial rehabilitation. They are fixed-rate and fully amortizing over their 40 year terms. During construction they require interest only, have a debt service coverage of 1.11 and a loan-to-cost of 90% of appraised value.

232/223(f) loans are for acquisition or refinance loans, have a fixed-rate fully amortizing over their 35 year terms. Debt service coverage ratios are 1.1765, the LTV is 85% of market value, as well as 100% of the transaction cost for a refinance and 85% of the transaction cost for a purchase transaction.

Conventional funding. Typical acquisition or refinancing loans here include short-term floating rate loans with interest only payments. Loan maturity will be in 2–3 years, plus several 1-year renewal options. Loan purposes might be acquisition or refinance of single assets or multiple property portfolios, provide bridge financing or carry a property through final lease-up. Fixed-rate loans have maturities of 5-, 7- or 10- years and 25- to 30-year amortization schedules. Lenders limit loan size to between 75% and 85% of market value and require debt service coverage of 1.35 or greater.

Recent MAP lender loans.