FHA-Insured mortgages can be used to finance the new construction or substantial rehabilitation of Seniors Rental Housing. Seniors Housing includes housing for residents aged 62 and older without the need for additional services. Other types of projects includes Assisted Living Facilities, Skilled Nursing Facilities, Intermediate Care Facilities, Board and Care homes, and Independent Living Facilities. Additionally, these mortgage loans can be used for the purchase or refinancing of existing projects not requiring substantial rehabilitation, and expansion of existing properties.
The FHA mortgage insurance programs currently offer one of the few low-cost, higher leverage, non-recourse loan products available in today’s difficult and dislocated credit environment. These Seniors programs provide an excellent and reliable source for long-term, fully amortizing, fixed-rate financing.
The most common Seniors Housing Programs include:
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