10+ years later, HUD Lean is still a great choice.

Over a decade after the HUD Lean program was launched, the HUD Section 232 loan remains a popular, sound choice for skilled nursing and assisted living facility operators, according to Cambridge President Andrew L. Erkes. "HUD 232 has been a staple in the marketplace for decades, but certainly has garnered increased enthusiasm from both borrowers and lenders since the Lean program was introduced in late 2008," he said.

The HUD 232 loan was first introduced in the 1930s as an FHA-backed mortgage for nursing homes, assisted living facilities, and board and care facilities. It mirrors the HUD 221 program, which was created to fund multifamily new construction and substantial rehabilitation. HUD 232 also funds new construction, refinancing, and rehabilitation projects, with both 221 loans and 232 loans being granted based on the real estate, not on the operating company.

Contact Cambridge today to get started on your lending needs with a HUD team that has unsurpassed knowledge and expertise in the program.  We're here for you with any program questions, so call us today at 312-357-1601 to discuss your transaction. To read the whole article, visit our blog, or learn more about all of our services.