FHA 232/223(f) Programs

ELIGIBLE PROPERTY TYPES:

• Nursing Homes (skilled and Intermediate care)
• Assisted Living facilities
• Board and Care Facilities
• Special-use facilities such as alcohol and drug treatment facilities, Alzheimer's facilities and mental retardation centers may qualify

PROGRAM FEATURES:

• Non-recourse
• Fully Assumable
• Program can be used as credit enhancement for Bond Financing

ELIGIBLE BORROWERS:

• Single Asset Entity

RATES/Term/Secondary:

• Fixed rate for the length of the mortgage
• Term to 35 years
• Secondary financing is permitted under some conditions

MAXIMUM LOAN AMOUNT:

- ACQUISITION The lesser of:

• 1.45 debt service coverage
• 80% loan-to-value, or
• 85% of acquisition costs including transaction cost and repairs

-REFINANCE the lessor of:

• 1.45 debt service coverage
• 80% loan-to-value
• 100% of existing debt plus transaction cost, including repairs, or
• No equity takeout

PREPAYMENT CONDITIONS:

• Typically 5-year lockout with declining penalty for years six through 10
• No yield maintenance

Medical Finance Source

EnQueue is leading the way in Commercial Real Estate loans, SBA loans, as well as Account Receivable Financing, Medical Financing and Working Capital Loans. Our ability to enhance your cash position with Working Capital, Receivable Factoring and Bridge Loans provide the business funding you need. Your Equipment needs can be filled through our Equipment leasing facilities suitable for large and small equipment leases as well as our Sale Leaseback program to enhance you cash position. Medical Equipment financing and Medical practice mergers and acquisitions is our funding specialty as well Contractor Project Financing.