What Properties are Eligible for HUD 232 Financing?

Eligible Properties for HUD 232 Loans

In order to be eligible for HUD 232 financing, properties need to meet a variety of eligibility requirements, including offering continuous care, being appropriately licensed, and having at least 20 patients. Keep reading to learn more about the eligibility requirements for HUD 232 loans. 

What are the HUD 232 Eligibility Requirements? 

The full list of eligibility requirements for HUD 232 loans includes: 

  • Facilities must offer ongoing, continuous care and oversight for individuals requiring long-term care or medical attention

  • Facilities must be licensed by an appropriate municipality or state body

  • Properties must have been completed at least three years prior (for acquisition or rehabilitation financing) 

  • Additions less than three-years-old are acceptable, but cannot be larger than the original facility

  • Facilities must accommodate 20 or more patients requiring continuous or skilled nursing care

  • Non-resident day care must not exceed 20% of the property’s gross area and 20% of the gross income

  • Independent living units cannot make up more than 25% percent of all units

  • Commercial space must not exceed 20% of floor area or income

To learn more about FHA 232 loans, fill out the form below to speak to a HUD/FHA loan expert.