Section 232 is a combination construction and permanent loan program for new construction or substantial
rehabilitation of nursing homes, home for the aged and assisted living facilities.
FHA Section 232 Loan Program
Location:
Nationwide ()
Loan Amount:
No Minimum / No Maximum
Interest Rate:
Market Rate
Debt Service:
DSCR is 1:11; Loan to Cost: 90%
Recourse:
Non-recourse, for construction / permanent
Loan Terms:
Construction Loan, up to 2 years. Permanent Loan, up to 40 years, fully-amortizing
loan.
Assumable:
Yes, subject to Lender and HUD approval
Processing:
M.A.P. Lender performs all u/w, prepares / reviews applications for program requirements. FHA
reviews for compliance and & accuracy. FHA conducts pre-application meeting to
determine project feasibility.
T.A.P. Traditional Accelerated Processing. The Lender u/w, prepares/submits application. FHA
processes application all the way to loan closing, including preparation third party reports.
Have Questions? Want to get Started? Please Contact Us:
Capital Line Commerical Financing Contact Form
Capital Line Funding |(858)
452-2845 | License #00808579
