FHA FINANCE SOLUTIONS
Multifamily | Healthcare | Hospital
LOAN PROGRAMS
Love Funding provides refinance, acquisition, construction, rehabilitation and bridge loans for market-rate multifamily and affordable housing communities, healthcare facilities and seniors housing, as well as hospitals. In the last 2 years, we’ve closed nearly $1.8 billion in HUD-insured financing for our valued clients. To learn more about HUD-insured loan programs, give us a call. Let’s start a conversation.
Love Funding is consistently ranked among the nation’s top HUD MAP approved lenders. Our underwriting team has the knowledge and experience to expertly process your loan and get you to the closing table as efficiently as possible.
Non-recourse, assumable financing for the purchase or refinance of existing market-rate multifamily, affordable or age-restricted properties.
Streamlined HUD program designed to allow borrowers with existing FHA insured loans to lower the interest rate, extend the term, fund project repairs and increase the replacement reserve. For-profit and not-for-profit borrowers may apply for FHA mortgage insurance under this program.
This program permits the modification of an existing loan only for the purpose of reducing the interest rate. The existing prepayment penalty must be paid in full.
Non-recourse, assumable construction and permanent financing for new apartments or substantial rehabilitation of existing apartments.
This program provides insured second mortgages to finance repairs, replacements (including major movables), energy conservation measures, and additions to existing FHA-insured multifamily properties. The program is intended to keep a property competitive, extend its economic life, and provide replacement of obsolescent equipment.
Love Funding offers a bridge-to-HUD platform as an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing. The platform provides bridge financing of up to three years for qualified borrowers seeking long-term HUD financing to acquire, refinance, or take equity out of a project. The platform also offers construction/mini-perm loans and tax credit equity bridges.
Financing for affordable housing communities can get tricky. It oftentimes requires a combination of debt and equity sources and a complex analysis of available financing tools. Love Funding has done it all. Our experienced team has extensive experience underwriting HUD-insured loans involving tax-exempt bonds, low income housing tax credits (LIHTCs), historic tax credits, new market tax credits, Section 8 rental contracts and various government programs for subordinated loans or grants. We also offer a bridge loan platform, which provides interim and construction funding for projects seeking long-term, permanent financing using HUD loan programs.
HUD defines “Affordable Housing” as a) projects that have a recorded regulatory agreement in effect for at least 15 years after final endorsement; or b) projects that meet at least the minimum LIHTC restrictions of 20% of units at 50% of the Area Median Income (AMI), or 40% with economic rents (portion paid by tenants) on those units no greater than LIHTC rents; or c) mixed income projects if the minimum low income unit rent and occupancy restrictions and regulatory agreement meet above criteria.
Non-recourse, assumable financing for the purchase or refinance of existing market-rate multifamily, affordable or age-restricted properties.
Streamlined HUD program designed to allow borrowers with existing FHA insured loans to lower the interest rate, extend the term, fund project repairs and increase the replacement reserve. For-profit and not-for-profit borrowers may apply for FHA mortgage insurance under this program.
This program permits the modification of an existing loan only for the purpose of reducing the interest rate. The existing prepayment penalty must be paid in full.
Non-recourse, assumable construction and permanent financing for new apartments or substantial rehabilitation of existing apartments.
This program provides insured second mortgages to finance repairs, replacements (including major movables), energy conservation measures, and additions to existing FHA-insured multifamily properties. The program is intended to keep a property competitive, extend its economic life, and provide replacement of obsolescent equipment.
This program allows for the conversion of annual operating and capital subsidies into Section 8 rental contracts. In conjunction with the HUD 221(d)(4) or 223(f) program, debt can be leveraged along with 4% or 9% LIHTCs to provide public housing agencies the ability to reinvest in public housing projects.
Love Funding offers a bridge-to-HUD platform as an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing. The platform provides bridge financing of up to three years for qualified borrowers seeking long-term HUD financing to acquire, refinance, or take equity out of a project. The platform also offers construction/mini-perm loans and tax credit equity bridges.
As an experienced HUD LEAN lender, we offer finance programs for assisted living (ALF), skilled nursing (SNF) and memory care facilities (up to 25 – 30% of a healthcare facility can have an independent living component). We also offer a bridge loan platform, which provides interim and construction funding for seniors housing/healthcare facilities seeking long-term, permanent financing using HUD-insured loan programs.
Non-recourse, assumable financing for the purchase or refinance of existing healthcare or seniors housing facilities.
Streamlined HUD program designed to allow borrowers with existing FHA insured loans to lower the interest rate, extend the term, fund project repairs and increase the replacement reserve. For-profit and not-for-profit borrowers may apply for FHA mortgage insurance under this program.
This program permits the modification of an existing loan only for the purpose of reducing the interest rate. The existing prepayment penalty must be paid in full.
Non-recourse, assumable construction and permanent financing for new healthcare facilities or substantial rehabilitation of existing facilities.
This program provides insured second mortgages to finance repairs, replacements (including major movables), energy conservation measures, and additions to existing FHA-insured multifamily properties. The program is intended to keep a property competitive, extend its economic life, and provide replacement of obsolescent equipment.
Love Funding offers a bridge-to-HUD platform as an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing. The platform provides bridge financing of up to three years for qualified borrowers seeking long-term HUD financing to acquire, refinance, or take equity out of a project. The platform also offers construction/mini-perm loans and tax credit equity bridges.
HUD’s loan program for acute care hospitals (including critical access hospitals) provides financing for the new construction, expansion, modernization, equipment and refinancing of existing debt. Love Funding has deep experience executing a variety of hospital finance transactions, including FHA 242, new market tax credits, traditional bond financing and USDA loans.
Non-recourse, assumable financing for the purchase or refinance of existing hospitals. The costs of new capital projects (i.e., construction and/or equipment) may be included in the loan, provided they are less than 20% of the loan amount. Facility must be a licensed acute care hospital. Borrower may be non-profit, for-profit or a public entity.
Streamlined FHA program designed to allow borrowers with existing FHA insured loans to lower the interest rate, extend the term, fund project repairs and increase the replacement reserve. All borrowers with existing 242 mortgages may apply for FHA mortgage insurance under this program.
Mortgage insurance for acute care hospitals – including Critical Access Hospitals – for loans to finance new construction, expansion, modernization, equipment, and refinancing of existing debt. U.S. Government backing of financing results in AA/AAA credit rating enabling hospitals to obtain very attractive interest rates.
Love Funding offers a bridge-to-HUD platform as an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing. The platform provides bridge financing of up to three years for qualified borrowers seeking long-term HUD financing to acquire, refinance, or take equity out of a project. We also recently expanded our bridge loan platform to include construction/mini-perm loans for ground-up new construction and substantial rehabilitation, as well as bridge tax credit equity for affordable developers. Terms vary and are tailored to each transaction.
The bridge-to-HUD platform is an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing for the aquisition or refinance of a multifamily property.
The bridge-to-HUD platform is an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing for the construction or mini-permanent financing of a multifamily property.
The bridge-to-HUD platform is an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing for the acquisition or refinance of a healthcare facility.
The bridge-to-HUD platform is an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing for the construction or mini-permanent financing of a healthcare facility.
The bridge-to-HUD platform is an interim financing option when quick executions are required or HUD regulations dictate the need for interim financing.
BENEFITS OF FHA FINANCE
There are a lot of finance options out there, but we firmly believe in the many benefits of FHA financing. In fact, we focus exclusively on HUD-insured loan programs and have the knowledge and expertise to show for it.
Low, fixed interest rate
Non-recourse
Fully assumable
Long-term amortization
Flexible pre-payment structure
BRIDGE LOAN PLATFORM
Love Funding offers a bridge-to-HUD loan platform as an interim financing option when quicker executions are required or HUD regulations dictate the need for interim financing.
RECENT EXPERIENCE
FROM OUR CLIENTS
Cranbrook Tower is an exciting opportunity not only for our company, but for the residents we serve. It is truly a great feeling to have Love Funding be a part of our development team knowing that the needs of seniors will be met with an exceptional funding process.
The closing of this loan signifies a new beginning for Tysons Tower. It’s a testament to the dedication Fairfax Education Association Retirement Housing Corporation continues to exhibit in fulfilling its mission of providing quality affordable housing in one of the nation’s most expensive real estate markets.
Love Funding was a pleasure to work with from beginning to end. They bring the organization and professionalism of a large firm, while retaining the ability to be flexible when necessary. It was a smooth process throughout.
We were under a tight timeframe to complete the refinances of the Villas properties. The Love Funding team guided us all the way through and enabled us to beat our deadline. They possess a tremendous amount of knowledge and expertise, both of which are essential when using the HUD programs.
Love Funding’s experienced and knowledgeable staff were an incredible asset in working with HUD to close on our loan. They were instrumental in helping us secure long-term, fixed-rate financing for a flagship deal in the heart of Nashville.
It gives me great pleasure to be able to design and renovate this 180-year-old site, hopefully adding another 100 years to its life. The underwriting process was complicated throughout and, the transaction may never have been completed without the guidance of the team at Love Funding.