FHA mortgage insurance has a variety of benefits including credit enhancements and can provide attractive terms. Listed below are some of the features provided by FHA mortgage insurance for hospitals.
FHA Credit Enhancement
Government backing enhances your hospitals credit worthiness. Your Resulting AA to AAA Credit Rating will provide you with a better interest rate. With a lower interest rate you have more money to meet your community needs.
Eligility Requirements
Only private, nonprofit owners of Section 202 direct loan projects with or without Section 8 rental assistance; Section 202 capital advance projects receiving rental assistance under their Project Rental Assistance contract (PRAC); Section 515 rural housing projects receiving Section 8 rental assistance; projects subsidized with Section 221(d)(3) below-market interest mortgage; projects assisted under Section 236 of the National Housing Act; and other projects receiving Section 8 project-based rental assistance that are designated primarily for occupancy by the elderly are eligible. These projects must have had closing on or before January 1, 1999.
Hospitals That Choose FHA:
- Are Nationwide
- For-Profit, Not-for-Profit, and Government-Owned Hospitals
- Acute Care Hospitals
- Large Urban Teaching Hospitals
- Hospitals in Systems
- Critical Access Hospitals
FHA-Insured Loan Uses:
- Remodeling
- Expansion
- Modernization
- Equipment
- Refinancing
- Acquisitions
Terms:
- No maximum Loan Amount
- LTV up to 90%
- No Cash Required At Closing with Sufficient Equity
- FHA insures 99% of the loan amount.
FHA Multifamily Mortgages
FHA Special Needs Housing Loans
FHA Health Care Mortgages
| FHA Health Care Mortgages | |
|---|---|
| Hospital Facilities - Section 242 | Residential Care Facilities - Section 232 |
