Supplemental Loans to finance repairs, additions and improvements, or energy conservation improvements for:

• Market Rate Family Apartments

• Affordable Housing Apartments

• Senior Independent Apartments

• Urban Renewal Area Apartments

• Assisted Living / Board & Care Homes

• Skilled Nursing / Intermediate Care Facilities

• Hospitals / Acute Care Facilities

Single asset borrower may be comprised of:

• For-Profit Sponsor

• Nonprofit Sponsor

• Public Entity Sponsor

Financing of repairs, additions and improvements, or conservation improvements, without refinancing the existing mortgage, for existing multifamily rental housing and health care facilities with:

• FHA insured first mortgages, or

• HUD-held mortgages.

Financing of major movable equipment for health care facilities, including furniture and equipment.

Supplemental Loan – the lesser of:

• 90% of the value of the improvements, additions or equipment,

• An amount which when added to any outstanding indebtedness relating to the property, does not exceed the maximum mortgage amount permitted by the Section under which the project or facility is currently insured, and

• FHA’s statutory per unit limits, adjusted by jurisdiction, applicable to the total of the outstanding FHA-insured mortgage and the supplemental loan.

• Loan Term – limited to a period not longer than the remaining term of the underlying FHA-insured first mortgage.

• Fully amortizing non-recourse loan, no balloon payment.

• Loan is fully assumable by new owner.

• Rate is fixed for entire loan term prior to initial loan closing.

• Davis-Bacon prevailing wage requirements apply to costs of new construction or rehabilitation.

Please provide the following information for a preliminary loan quote:

• Brief description of property including year built, number of units/beds, unit mix and square footages, and site acreage.

• Last three years, and year-to-date income and expense statements and balance sheets.

• Current rent roll/census.

• Pro forma income and expenses for completed project.

• Any available market studies, appraisals or environmental reports.

• Copy of most recent mortgage statement for existing FHA-insured loan, with escrow balances; copy of existing secured and unsecured promissory notes and mortgages.

• Description of and estimated costs of desired repairs, improvements, additions and equipment to be financed.

• Names of owner, principals, management agent, operator, etc.; resumes if available.