Insured Loan Program
Health Care Acquisition or Refinance
Loan Amount: Minimum Loan $4,500,000
Maximum Loan to Value/Cost: 80 % (*1)
Rate: 5.00-5.25% Fixed (*2)
Term: 35 Years (No Balloon)
Amortization: 35 Year
Transaction Costs: Other costs – Budget (*3)
Recourse: None
Assumable: Yes, with 1 point fee
term, fixed rate, no balloons, non-recourse and assumable.
No Cash Out Allowed – Commercial Space limited to 20% of sq. ft.
(*1) Actual gross loan amount will be based on lesser of 1:45 DSC, 80% LTV, 85% of transaction costs, and other considerations. All net loan proceeds must be used to retire current debts, pay financing costs and fund reserves, in addition to all hard and soft costs.
(*2) Note rate depends on market conditions at time of rate lock.
(*3) Budget costs will vary with each individual loan. Includes borrower’s costs for legal, audit, survey, title, recording charges, lender’s legal counsel, etc. Transaction costs are normally reimbursed out of loan proceeds. Initial setasides are funded out of loan proceeds. Borrower must make annual contributions to reserves. Borrower prepays one year’s mortgage insurance at closing.