HUD 232 Independent Living

Can HUD 232 Loans Finance Independent Living Facilities?

Can HUD 232 Loans Finance Independent Living Facilities?

An independent living facility is a housing facility designed for senior citizens that does not offer assistance with daily activities, such as dressing, bathing, eating, and taking medication. HUD 232 and 232/223(f) loans do not finance full independent living facilities, though up to 25% of the units in an assisted living or skilled nursing facility may be set aside for independent living.

Can HUD 232 Loans Finance Continuum of Care Facilities?

Can HUD 232 Loans Finance Continuum of Care Facilities?

In some cases, certain facilities, often known as continuum of care facilities, offer independent living, assisted living, and skilled nursing care, all in one location. In theory, an individual could first stay in an independent living unit, and then, as their needs changed over time, could be transferred to an assisted living unit, and finally, a skilled nursing care unit.