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Nursing Homes, Assisted Living Facilities, Board &
Care Facilities
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New Construction, Substantial
Rehabilitation, Refinancing & Acquisition |
| Features |
- Low, fixed interest rate for both construction and
permanent loans.
- Permanent rate is set prior to construction loan
closing.
- Term: Up to 40 years (fully amortizing).
- Up to 90% of total cost - 95% for private non-profit
mortgagor.
- Fully assumable, with permission.
- No personal liability.
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| Funding |
- Provided by Quickmortgageloan.com at lowest available
rates and terms.
- No hidden fees or costs.
- "Par Loans" and "Buy Downs" available.
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| Eligibility |
- Borrowers may be public, non-profit, or proprietary
entities.
- Kitchen facilities and private baths not required for each
unit or bed.
- Major movable equipment may be financed.
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| Requirements |
- Real estate must be held in fee simple or long term ground
lease.
- Escrows for property insurance, special assessments (if
any), real estate taxes, reserves
for replacement and mortgage insurance premiums.
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| Refinancing
or Acquisition |
- Must be in operation at least 3 years.
- Up to 85% of value or cost.
- Up to 90% for private non-profit mortgagor.
- Up to 35 years, fully amortizing.
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