Loans for Nursing Homes and Healthcare Facilities

Use our HUD LEAN 232 loan for new construction and/or substantial rehabilitation of senior housing, assisted-living facilities, and nursing homes—one of our specialties!

Documents Required to Review Loan Requests for New Construction/Value-Add of Nursing Homes:

  • Description of proposed project
  • Location and breakdown of number of beds
  • Proposed per day rates for Medicare, Medicaid, and private pay
  • Land acquisition cost
  • Proposed estimated construction cost or rehabilitation cost (if available)
  • Developer and operator experience
  • Preliminary plans (if available)
  • Certificate of Need (CON), if required

Nursing Homes & Assisted Living Facilities Purchase and Refinancing Loans

For loan programs to refinance existing nursing homes, intermediate care facilities, and assisted-living facilities not requiring major repairs, Bonneville Multifamily Capital offers loans that are FHA insured through HUD—eligible for up to 35 years, fixed-rate financing. These loans are available for non-profit and for-profit projects

  • LEAN 223(f)—Purchase and Refinance
  • LEAN 223(a)(7)—Refinance of Existing LEAN FHA Loan
  • LEAN 241(a)—Supplemental Loans (2nd Mortgages) for Healthcare Facilities

Documents Required to Review Nursing Homes and Assisted Living Facility Loans:

Balance sheets, statements of income and expenses and:

  • Statement of Change in Financial Position on the existing facility for the last three years
  • Current pay rates for Medicaid, Medicare, and private pay
  • Breakdown of numbers of beds/units by type
  • Census for the last six months
  • Copy of state license (if applicable)

Hospital Loans

Bonneville Multifamily Capital provides loans for construction financing, refinancing, modernization, remodeling, and equipment and expansion for acute care or critical access hospitals through the HUD/FHA Section 242. Through our strategic correspondent relationship with an FHA-Approved Lender, we work with HUD and the Department of Health & Human Services throughout the process to ensure a successful approval.

Documents Required to Review Hospital Loan Requests:

  • Description of the hospital – include improvements to be made and equipment to be purchased
  • Three years financial statements
  • Latest interim financial statement