How early should I start refinancing my senior housing loan?
Direct answer
Start well ahead of maturity, ideally 6 to 12 months or more before the loan comes due. Some programs take time: HUD loans typically take 6 months or more to close, and lenders will want current financials, an appraisal and property reviews before committing.
What to know
Starting early gives you time to compare bank, agency, HUD and bridge options.
It also gives you time to improve occupancy or NOI before lenders size the new loan.
For existing HUD loans, HUD's 223(a)(7) program refinances HUD-insured debt.
How Haven helps
Haven helps owners plan refinancing and connects them with lenders. Read about HUD 223(a)(7) refinancing.
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