What steps should I take to refinance a senior housing loan before it matures?
Direct answer
To refinance before maturity, review your current loan terms and prepayment rules, update your trailing-12-month financials and rent roll, get a valuation, compare loan options, assemble the lender package and allow time for appraisal and approvals. Start 6 to 12 months or more before maturity.
What to know
Know your numbers: occupancy trend, NOI and payor mix drive how much a lender will offer.
Compare options: bank loans, agency loans, HUD programs and bridge loans of 12 to 36 months.
Prepare documents: financial statements, census, licenses, surveys and property information.
Plan for a backup if the new loan isn't ready, such as an extension.
How Haven helps
Haven helps owners prepare and place refinancing. Read about HUD 223(a)(7) refinancing.
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