Non Recourse Assisted Living Loans
Despite poor market conditions in 2010, there remains a demand and need for senior living facilities nationwide. Properties continue to seek financing for expansions, rehabilitation, acquisition and even new construction.
Non-recourse loans are available for assisted living properties as well as nursing homes under HUD program 232 and 221. The following factors will determine the rate, the term of the loan as well as the loan to value ratio:
- Profit or Not-for-profit entity
- Acquisition or refinancing
- Construction or renovation
- Size of units and type of construction
The maximum value of the non-recourse loan is established by statute and varies by location.
