Extend the remaining term of the current loan by up to 12 years (subject to HUD approval), with the condition that it does not surpass the original term of the existing loan. The loan is fully amortizing throughout the entire term.

No Cash-Out Provision:
‍The FHA® 232/223(a)(7) refinancing option does not include a cash-out provision.

‍Determining New Loan Amount:
‍The new loan amount is established based on the lowest of the following:

1. Original principal balance of the existing loan.
2. 100% of the costs associated with refinancing, including the current principal balance, transaction costs, repairs, and deposits to replacement reserves.
3. Ensuring a minimum debt service coverage of 1.11.

Fixed interest rate

The loan is typically applicable to various types of healthcare properties, including:

1. Skilled Nursing Facilities
2. Long-Term Acute Care (LTAC) Facilities
3. Intermediate Care Facilities (ICFs)

A singular asset entity, whether for-profit, nonprofit or public borrowers.

Cash-out in not allowed

Not Applicable to this loan program

In the initial year, an upfront fee of 0.50% is due at closing. Subsequently, healthcare facilities with LIHTC incur an annual fee of 0.45%, while those without LIHTC face an annual fee of 0.55%.