Program Overview

The LEAN 232/223(f) program is a financing program designed for acquisitions or refinancing of existing healthcare facilities including Skilled Care Nursing Homes, Intermediate Care, Assisted Living and Personal Care facilities.


Single purpose entities that can either be profit or non-profit motivated.

Personal Liability

None. Loans are non-recourse.

Loan Amount

There is no maximum loan cap associated with this program.


35 year term.


80% of the project’s value for profit motivated skilled nursing facilities and assisted living facilities and 85% of the project’s value for non-profits skilled nursing and assisted living facilities.

Amortization and Assumability

This loan is fully amortized and assumable.

Interest Rate

Interest rates are fixed at closing. Rates are typically set lower than conventional financing due to the credit enhancement provided by FHA at closing.

Mortgage Insurance Premium

A mortgage insurance premium is paid annually based on the outstanding principal. Premium is 1% for the first year and ranges between .45% and .65% annually depending on the project.

Interested in This Program?

Please contact us and one of our experienced loan officers will reach out to assist you.

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