For FHA LEAN Financing go to www.kendallrealtyadvisors.com


__Summary of Underwriting Benchmark LTV’s and DSCR’s ___________

Type of Unit	New/Existing Units	Mortgagor Type	Max. LTV*	Min. DSCR*
SNF/ILU	Both	For Profit	80%	1.45
SNF/ILU	Both	Non-Profit **	85%	1.45
ALF	New	For Profit	75%	1.45
ALF	New	Non-Profit **	80%	1.45
ALF	Existing	For Profit	80%	1.45
ALF	Existing	Non-Profit **	85%	1.45

SNF = Skilled Nursing Facility

ILU = Independent Living Unit

ALF = Assisted Living Facility

 

*  Maximum loan to values and minimum debt service coverage ratios are set by the Section 232 Statute and Regulations.  Any submittal above the LTV’s listed in this Email Blast or below the DSCR’s listed in this Email Blast will require justification/mitigation as discussed in the July 24, 2009 and November 20, 2009 Email Blasts.

 

            ** To qualify for the higher Non-Profit benchmarks, the owner/operator must demonstrate a successful operating track record,
            significant project operating and management experience, an a solid financial track record.