ALF LEAN LOANS - Fannie Mae - Freddie Mac Healthcare Financing - Multifamily Housing Finance
Work with one of the top FHA 232 Assisted Living Lending teams, We have spent over twenty five years each, lending on Apartments and Healthcare properites. Aligned with a leading, national multifamily and healthcare lender offering Fannie Mae, Freddie Mac and FHA lending programs
HOME - SERVICES - APARTMENT LOANS - FHA LEAN - FHA HOSPITAL FINANCE - CONTACT US
Chicago, IL - Evanston - IL
KENDALL REALTY ADVISORS
APARTMENT AND HEALTHCARE LENDERS
FHA FANNIE MAE FREDDIE MAC LOAN PROGRAMS
232 LEAN - FHA 242 HOSPITAL
EVANSTON - CHICAGO, IL
FHA232/223f LEAN Refinance
FHA 232 New Construciton
Apartment 221(d)(4) New Construction
Apartment 223(f) refinance
Freddie Mac Fannie Mae
EVANSTON - CHICAGO, IL
Chicago, IL - Evanston - IL
KENDALL REALTY ADVISORS
APARTMENT AND HEALTHCARE LENDERS
FHA FANNIE MAE FREDDIE MAC LOAN PROGRAMS
232 LEAN - FHA 242 HOSPITAL
EVANSTON - CHICAGO, IL
FHA232/223f LEAN Refinance
FHA 232 New Construciton
Apartment 221(d)(4) New Construction
Apartment 223(f) refinance
Freddie Mac Fannie Mae
EVANSTON - CHICAGO, IL
Friday, April 12, 2013
Wednesday, March 6, 2013
FINANCING FOR SENIOR HOUSING, NURSING HOMES, ASSISTED LIVING, AND HOSPITALS
Owners of multifamily, nursing homes, assisted living
facilities, and hospitals have long preferred traditional bank lenders over
FHA-based financing. The usual reason is
the difficulty and frustration of dealing with FHA versus the relative ease of
dealing with sophisticated lenders. Due
to the changes from the real estate market crash, the wave of bank
consolidations, and the reluctance of the remaining banks to return to lending,
owners should reexamine their traditional views of FHA financing.
Traditional financial institutions no longer securitize senior
multifamily and health care loans, thereby eliminating the availability of
conduit financing for these projects. We
have not yet seen the end of the foreclosure crisis and if banks incur addition
losses, bank financing for these types of projects will be almost impossible to
obtain.
FHA, on the other hand, has improved its process
dramatically. FHA-based financing has
always offered several significant advantages over traditional bank and conduit
lending sources if one was willing to deal with the red tape. Much of that red tape has now been removed or
streamlined and programs to finance hospitals have been added. The most obvious advantage to FHA is
continued credit availability that is unaffected by the subprime fiasco. Additional advantages are lower fixed rates,
nonrecourse loans, and long-term fully-amortizing debt.
FHA loans do not contain the numerous covenants contained in
traditional lending documents and specifically do not contain a debt service
coverage requirement. As markets evolve
and Medicaid and Medicare reimbursement methodologies are revised, a manager’s
ability to maintain a stable and predictable debt service coverage is
continually challenged. FHA-based
financing will prove especially valuable.
Charles Kendall 773-259-7074
kendallrealtyadv@gmail.com
Scott Kendall 847-903-7578
kendallrealty@gmail.com
Thursday, May 24, 2012
commercial property, prices recovered to mid-2003 Levels CoStar 2012 News APARTMENT LOAN RATES LINK
APARTMENT LOAN RATES LINK
Despite a generally flat March for pricing of commercial property, prices recovered to mid-2003 levels in the first quarter as improving fundamentals and liquidity causing a broadening of the recovery into non-core commercial real estate and secondary markets, according to this month's CoStar Commercial Repeat Sale Indices (CCRSI) report.
At this rate it will be 2006 in ten short years. Oprah sells her Chicago condo for about 1/2 of what she paid. say $3,000,000 on $6,000,000 cost plus extra shoe closets.
Tuesday, May 15, 2012
Apartment Loan rates and This Is Clearly Going To Cost JPMorgan Much More Than $2 Billion
APARTMENT LOAN RATES
Whale Ahoy
JPMorgan announced a $2 billion loss Friday. When compared to its market cap and other indicators, that goes Ouch!, but not much more. However, there’s more going on. The bank has refused to state where in its operations the loss was incurred. For good reason perhaps: the positions that caused the loss are still rumored to be open.
The main problem JPMorgan may be facing, and the 8% loss in pre-market trading may be a sign players are on to this, is that we probably already know where the loss is. A few weeks ago, the financial sphere was full of stories about the London Whale, a JPM trader in London named Bruno Michel Iksil, who had taken such massive - synthetic - derivative (gambling) positions in a 125 company index that they were moving the market itself.
Back then, some hedge funds took counter positions just for the sheer fact that he had bet so much; they figured he couldn't last forever on all trades. The underlying notion was he was long a bunch of companies; well, not a lot has gone well in the markets lately. And if you have overweight derivative positions in one direction (in this case credit default swaps) , you can make a killing or you can get punished fast and furious. He did the latter.
Read more: http://theautomaticearth.org/Finance/jpmorgan-a-tale-of-whales-and-sharks.html#ixzz1uwnfvREt
Tuesday, April 17, 2012
Saturday, April 11, 2009
Wednesday, January 21, 2009
ALF Lean Loans
Many owners of nursing homes and assisted living projects have long preferred traditional bank lenders. However, the significant losses from the subprime meltdown—more than $500 Billion—have changed the rules and the ability of traditional lenders to finance loans. Most analysts project additional losses in the near future along with significant losses in automobile loans and credit card loans, which means conditions will become worse before they get better.
These losses force banks and financial institutions to seek capital to supplement their depleted base. Without a sufficient base, banks and financial institutions are unable to make new loans. Despite the infusion of cash from the Treasury, credit has not loosened. The projected size of current and future losses bring into question whether banks and financial institutions have the ability to raise the necessary additional capital and whether or not they will be making many loans in the near future.
The first type of loans that banks will cease making will be loans to nursing home and assisted living providers. Health care is a specialized market, and the number of banks willing or able to make these loans will diminish and the lending terms may become far more onerous. When Letters of Credit come due, banks will not have the ability to renew them.
Therefore, traditional, conventional financing in the near future is all but gone for practical purposes. Fortunately, FHA is rolling out their new LEAN program just as traditional bank and financial company financing is becoming more difficult. FHA recently reengineered its lending program for nursing homes and assisted living facilities by transferring the responsibility to the Office of Insured Health Care Facilities. This transfer has resulted in “THE LEAN PROGRAM,” FHA’s new way of doing business.
This new program addresses the most frequent complaints FHA lenders and facility owners have had with traditional FHA processing: the lengthy processing time, the inconsistent answers, and an inability to complete transactions in a consistently reasonable time frame. The new program promises the ability to close a transaction within thirty days of the day the lender files its application for mortgage insurance.
FHA now not only has a program that is—and always will be—available, offers fantastic terms, but also has the ability to deliver the financing with a rapid turn around, without the previous FHA headaches.
We have over 45 years experience dealing with FHA, and can help you through every step of the way. Each development is unique, of course, and we can help you determine your specific needs and determine the best way to achieve your objectives.
Please call or email us at your earliest convenience.
Very truly yours,
Charles E. Kendall
kendallrealtyadv@aol.com
These losses force banks and financial institutions to seek capital to supplement their depleted base. Without a sufficient base, banks and financial institutions are unable to make new loans. Despite the infusion of cash from the Treasury, credit has not loosened. The projected size of current and future losses bring into question whether banks and financial institutions have the ability to raise the necessary additional capital and whether or not they will be making many loans in the near future.
The first type of loans that banks will cease making will be loans to nursing home and assisted living providers. Health care is a specialized market, and the number of banks willing or able to make these loans will diminish and the lending terms may become far more onerous. When Letters of Credit come due, banks will not have the ability to renew them.
Therefore, traditional, conventional financing in the near future is all but gone for practical purposes. Fortunately, FHA is rolling out their new LEAN program just as traditional bank and financial company financing is becoming more difficult. FHA recently reengineered its lending program for nursing homes and assisted living facilities by transferring the responsibility to the Office of Insured Health Care Facilities. This transfer has resulted in “THE LEAN PROGRAM,” FHA’s new way of doing business.
This new program addresses the most frequent complaints FHA lenders and facility owners have had with traditional FHA processing: the lengthy processing time, the inconsistent answers, and an inability to complete transactions in a consistently reasonable time frame. The new program promises the ability to close a transaction within thirty days of the day the lender files its application for mortgage insurance.
FHA now not only has a program that is—and always will be—available, offers fantastic terms, but also has the ability to deliver the financing with a rapid turn around, without the previous FHA headaches.
We have over 45 years experience dealing with FHA, and can help you through every step of the way. Each development is unique, of course, and we can help you determine your specific needs and determine the best way to achieve your objectives.
Please call or email us at your earliest convenience.
Very truly yours,
Charles E. Kendall
kendallrealtyadv@aol.com
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