LEAN Programs for Healthcare
With more than 30 years of hands-on experience, SMF understands every aspect of FHA-insured LEAN programs and underwriting requirements.
LEAN, inaugurated in 2009, has brought significant improvements to the delivery of FHA-insured financing. It has established a uniform application template, standard underwriting and review protocols, and centralized policy and program development. These changes have transformed FHA mortgage insurance from the “financing of last resort” to an attractive, highly competitive program.
Whether you’re looking to construct, rehabilitate, refinance, acquire, expand, or renovate, we’ll help you find the FHA program to make it happen.
Construction or substantial rehabilitation
FHA Section 232 Loans to construct or substantially rehabilitate skilled nursing, assisted living and specialized use facilities.
FHA Section 232/223(a)(7) Loans to refinance skilled nursing, assisted living or specialized use facilities subject to existing FHA-insured loans.
Acquisition or refinancing
FHA Section 232/223(f) Loans to acquire or refinance skilled nursing, assisted living and specialized use facilities.
Expansion or renovation
FHA Section 241 Supplemental Loans to expand or renovate existing skilled nursing, assisted living or specialized use facilities already financed with FHA-insured loans.
Construction of substantial renovation of hospital facilities
FHA Sections 242 and 242/223(f) Loans (Office of Hospital Facilities (OHF) Processing).
Section 242 – For new construction or substantial rehabilitation of hospitals.
Section 242/223(f) – For acquiring or refinancing hospitals that may require moderate repair or capital needs not exceeding 20% of the loan amount.