FHA 242 LENDER FHA 242/223(f) Hospital Refinance: FHA Design Build and rates

Tuesday, January 20, 2009

FHA Design Build and rates

FHA is now more flexible on processing prior to final architectual drawing. This allows the owner to start the financing process while the contractor and architect are working on the final plans.

The rates for FHA GNMA taxable debt 242 debt has averaged between 6.5 and 7% for the last six months. Some borrowers are finding these rates lower than tax-exmempt transactions without all the bond and legal costs.

About Us:

Our knowledgeable team has worked in the mortgage banking/investment banking industry for the past 24 years specializing in healthcare lending, multifamily housing, FHA and FNMA insured loans. Throughout our careers, we have originated and/or underwritten in excess of $745,000,000 in mortgage loans with a focus on acute care hospitals, assisted living facilities, senior housing, and skilled nursing facilities. Previously our team has worked for several NY-based investment banking/mortgage banking firm specializing in conventional and government-assisted loans. Chuck has been president of a FHA mortgage company and a developer. Scott was the VP of Origination for several FHA and FNMA lenders. He has extensive experience working on affordable housing as the Midwest Loan Officer for FNMA Multifamily Affordable Housing Products. We understand that the integrity of the loan officer for the loan quote and rate pricing can make a huge difference for FHA clients.

FHA 242 Program:

FHA has issued over $13 billion in financing commitments and closed more than 80 FHA 242 property loans in 42 states since it was created in 1968. This includes hospitals of all sizes and geographic locations from rural critical access hospitals to some of the largest urban facilities in the country. The FHA 242 Program with mortgage insurance can save the hospital mortgage interest so that the saving can be used for repairs and modernization. The program may be used for existing or start-up hospitals or to finance construction, modernization, equipment, refinancing (limited to 80% of the insured loan amount), remodeling, expansion and acquisition. FHA Section 242 Hospital Mortgage Insurance is for urgently-needed hospitals and to facilitate affordable loans for nonprofit, public-owned, and for-profit borrowers.

FHA 242 LENDER FHA 242/223(f) Hospital Refinance

FHA 242 223(f) Terms

Tuesday, January 20, 2009

FHA Design Build and rates

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