Senior Housing
Finance Companies - Continued...
Continued
from previous page...
Most
senior housing finance companies will be focused on steering your project
through the federally-insured FHA/HUD Section 221 (d)(3)/(d)(4) or Section 232
programs because these programs represent what is called, "right of
title," meaning if the project meets the requirements of the federal
statute, then FHA has no alternative, they must issue the loan insurance (as
opposed to a commercial bank where everything can be perfect and you can still
be rejected for some reason you will never know).
The
FHA/HUD route also represents construction financing that is non-recourse to the
borrower on a personal financial level. Most commercial loans are not
non-recourse because the developer/applicant/borrower doesn't take the time to
put together the necessary documentation to support a non-recourse
construction loan proposal and structure the capital stack so that a
non-recourse loan can in fact be an outcome.
To
find out more about the potential outcomes your senior housing/retirement living
project may be able to contrive, then talk to a Rainmaker Marketing Corporation consultant today.