Healthcare Mortgage Program Eligible Property Types: Congregate Care, Assisted Living and Nursing Home Facilities Loan Parameters Loan Types: Ten year fixed rate, non-recourse, balloon loans with amortization schedules up to 30 years; sever-year terms considered on a case-by-case basis with a pricing adjustment Security: First mortgage secured by existing senior living facilities on fee simple land (Leasehold mortgage loans available on an exception basis) Principal Amount Range: $2 million and higher Interest Rate: Available upon request Debt Service Coverage: Minimum of 1.25-1.45 times depending upon property type, age, physical condition, location and construction Loan to Value: Up to 80% Congregate Care; 75% Assisted Living; 70% Nursing Home Prepayment: Defeasance Secondary Financing: Prohibited; may be permitted under certain limited conditions on a case-by-case basis Application Fee: $2,500 non-refundable inspection/loan processing fee payable to lender with the loan application, will be credited to origination fee at closing Origination Fee: 1%
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