Apartment Loan Store

(503) 376-7303 Nationwide Since 1997

 

Everyday 8am to 9pm Eastern

Loans $750,000 to $500,000,000

 

Better Business Bureau Rating A+

Senior Housing/Living - Loans/Financing

8 Senior Housing Loan Programs for Refinance or Acquisition

Since 1997, Apartment Loan Store has specialized in Senior Housing Financing for 55 and older communities and facilities offering: Independent Living, Assisted Living, Memory Care and Nursing Home Care Nationwide.

For 55 and Older Communities please go to our website and view “Apartment Loans”: https://apartmentloanstore.com/loan-product/apartmentsmultifamily-loansfinancing

SENIOR HOUSING LOAN PROGRAMS:

  1. FHA – 80% very low rate mortgage fixed for 35 years, 35 year amortization
  • For Purchase or Refinance of existing Assisted Living, Memory Care, Intermediate or Skilled Nursing Facilities.  Up to 25% to 30% of Independent Living allowed
  • Minimum Loan: $4,000,000  Maximum Loan $100,000,000
  • Loan to Value:  80% (85% for Non-Profit) of Appraised Value, or 100% of transaction costs for a refinance, and 85% of the transaction costs for a purchase.  Transaction costs can include:  repairs, initial replacement reserves, 3rd party reports, closing costs and eligible existing debt to be refinanced. 
  • Rate:  Fixed for 35 Years  Very Low 10 Year Treasury based rate
  • Term:  35 years    Amortization: 35 years
  • Recourse:  Loan is Non-Recourse
  • Assumable:  Yes with a ½ point fee
  • DSCR: 1.45
  • Prepayment penalty:  Declining for the first 10 years then no prepayment penalty for the remaining 25 years

 

  1. Agency Loan Program “A”
  • For the purchase or refinance of properties containing: Independent Living (Can be 100%), Assisted Living, Memory Care, Skilled Nursing (limited to 20% of NOI) or any combination of these
  • Minimum Loan $4,000,000, No Maximum
  • Loan to Value:  Up to 75%
  • Rate:  Low rates can be fixed from 5 to 30 years.  Interest Only Available
  • Term: Up to 30 years available   Amortization: 30 years
  • Recourse: Non-Recourse
  • Assumable:  Yes with a 1:00% fee
  • DSCR: 1.30 to 1.55
  • Prepayment Penalty:  Yield Maintenance or Declining
  • Supplemental Financing available after first year

 

  1. Agency Loan Program “B”
  • For Independent Care, Assisted Living, Memory Care, or any combination
  • Minimum Loan: $4,000,000   No Maximum
  • Loan to Value:  75%
  • Rate:  Great Rates can be fixed for up to 30 Years
  • Term:  Up to 30 years   Amortization:  30 years
  • Recourse:  Loan is Non-Recourse
  • DSCR: 1.30 for100% Independent Living, 1.40 for 100% Assisted Living
  • Prepayment Penalty:  Yield Maintenance
  • Supplemental Financing available after first year

 

  1. Life Company Loan Program
  • For Independent Care, Assisted Living, Memory Care or any combination
  • Minimum Loan:  $10,000,000 to $15,000,000  Maximum Loan: $125,000,000
  • Loan to Value:  65% to 70%
  • Rate:  Rates can be fixed for up to 25 years. Very low treasury based rates. 
  • Term:  5, 10, 15 20, 25 year terms available
  • Recourse:  Non-Recourse
  • DSCR:  1.45
  • Prepayment Penalty:  Defeasance

 

  1. CMBS – Commercial Mortgage Backed Security Loan Program
  • For Independent Care, Assisted Living, Memory Care, or any combination
  • Minimum Loan:  $3,000,000   Maximum Loan:  $50,000,000
  • Loan to Value: 75%  Up to 80% with Mezzanine piece 
  • Rate:  10 year treasury plus 2.00% - 2.50% for a 10 year fixed rate
  • Term:  5 or 10 years,  30 year amortization
  • Recourse:  Non-Recourse
  • DSCR:  1.30 to 1.40
  • Prepayment Penalty:  Yield Maintenance or Defeasance

 

  1. Private Institutional Loan Program
  • For Independent Care, Assisted Living, Memory Care, or any combination
  • Minimum Loan: $5,000,000   Maximum Loan:  $75,000,000
  • Loan to Value: 75%  Up to 85% with Mezzanine piece
  • Rate:  Libor based adjustable –  treasury yield based 10 year fixed rate
  • Term:  5 – 10 years    25 – 30 year amortization
  • Recourse:  Usually Non-Recourse
  • DSCR:  1.35 – 1.45
  • Prepayment Penalty:  Declining or Yield Maintenance

 

  1. National Bank Program
  • For Independent Care, Assisted Living, Memory Care or any combination
  • Minimum Loan:  $10,000,000  Maximum Loan $100,000,000
  • Loan to Value:  Up to 70%
  • Rate:  Very low libor adjustable or treasury based 5 – 10 year fixed
  • Term:  10 years    Amortization:  25 – 30 years
  • Recourse:  Must qualify for Non-Recourse
  • DSCR:  1.35
  • Prepayment Penalty:  Yield Maintenance or Defeasance

 

  1. Community Bank Program
  • For Independent Living, Assisted Living or Memory Care or any combination
  • Minimum Loan: $2,000,000   Maximum Loan: $12,000,000
  • Loan to Value:  Up to 75%
  • 3, 5, 7 year fixed rates tied to FHLR or Treasury based
  • Term:  Usually 10 years   Amortization 20 – 25 years
  • Recourse:  Loan is recourse
  • DSCR:  1.35
  • Prepayment Penalty:  declining