Senior Housing in Relation to FHA 232 Financing
Senior housing is a general term denoting housing suitable for older adults. This type of housing emphasizes safety and accessibility. Options range from round-the-clock care facilities to independent living communities. HUD 232 loans can finance many types of senior housing facilities, but facilities must typically have a large healthcare component to qualify. For example, to be eligible for HUD 232 financing, no more than 25% of a facility’s total units can consist of independent living units.
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