| Senior Housing Finance Companies - Continued...Continued from previous page... Most senior housing finance companies will be focused on steering your project through the federally-insured FHA/HUD Section 221 (d)(3)/(d)(4) or Section 232 programs because these programs represent what is called, "right of title," meaning if the project meets the requirements of the federal statute, then FHA has no alternative, they must issue the loan insurance (as opposed to a commercial bank where everything can be perfect and you can still be rejected for some reason you will never know). The FHA/HUD route also represents construction financing that is non-recourse to the borrower on a personal financial level. Most commercial loans are not non-recourse because the developer/applicant/borrower doesn't take the time to put together the necessary documentation to support a non-recourse construction loan proposal and structure the capital stack so that a non-recourse loan can in fact be an outcome. To find out more about the potential outcomes your senior housing/retirement living project may be able to contrive, then talk to a Rainmaker Marketing Corporation consultant today. |
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