RED Capital Group

The FHA 232/223(f) mortgage insurance program is a popular financing option for senior care communities. With low fixed interest rates and no personal guaranty required, the program is a great option for refinancing or purchasing assisted living, skilled nursing, and certain other types of senior communities. Beyond its favorable loan terms, however, the FHA program can also provide a way for a property owner to fund renovations, buy furnishings or equipment, or pay for other capital expenditures. This FHA program allows the loan proceeds to be used for such capital expenditures up to 15% of the appraised value of the property. At the same time that an owner can obtain attractive permanent financing, the owner can also fund projects to improve the physical condition and sustain the competitiveness of their properties for the future. For expansion projects and renovations that exceed the 15% limitation, other FHA programs are also available

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