KC Peterson is a vice president in the affordable-housing
HUD 232 Could Make Your Day
debt unit of Hunt Mortgage Group. He is a seasoned
commercial real estate executive, with a concentration in
the senior-housing, health care and multifamily sectors.
He maintains both LEAN 232 Healthcare and Multifamily
Accelerated Processing (MAP) underwriter certifications.
Reach Peterson at email@example.com
or (203) 981-7463.
Government lender offers attractive financing programs for health care properties
By KC Peterson
to take out equity from a property without carrying
debt for a full two years. To be clear, HUD still does
not directly provide cash-out loans, but it will allow
less-seasoned debt refinances, and refinances of inter-
mediate bridge loans.
Essentially, the new rules state that 60 percent LTV
refinances will be allowed with less than two years of
seasoned debt when less than 50 percent of the mortgage proceeds are used for the benefit of the project and
repayment of seasoned debt. A 70 percent LTV refinance
will be allowed with less than two years of seasoned debt
when more than 50 percent of the mortgage proceeds
are used for the benefit of the project and repayment of
To receive a full 80 percent LTV loan, debt on the
223(f) criteria must be met. Experienced owner-operators
with multiple facilities are typically sitting on a portfolio
There are about 75 million people in thebaby-boomergenerationandabout 3millionofthem willreachretirementage ach year for the next two decades.