Apartment Loan Store

(503) 376-7303 Nationwide Since 1997

 

Everyday 8am to 9pm Eastern

Get Matched To Your Best Loan         

No Obligation, No Credit Check

Connect With Your Loan Advisor

Relax While We Shop Your Options

Compare The Best Offers

Choose the Best Match

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