NATIONWIDE FHA / HUD DIRECT LENDING
A nationwide direct FHA lender for seniors housing, skilled nursing, affordable and market rate multifamily.
Blueprint originates and services the full range of FHA insured loans — multifamily and healthcare — with long term, fixed rate, fully amortizing, non-recourse capital. Where FHA is not the answer today, we arrange bridge to HUD debt and raise the capital to get there.
A HUD MAP and LEAN approved platform pairing FHA execution expertise with Blueprint’s command of the multifamily, seniors housing, and skilled nursing sectors.
40 yr
FIXED RATE, FULLY AMORTIZING
87% Market Rate
90% Affordable
LOAN TO VALUE / COST
Nonrecourse
STANDARD CARVE OUTS
WHY HUD
The most patient capital in commercial real estate.
FHA insurance lets owners and developers lock in terms conventional and agency debt cannot match. Blueprint manages a complex process so those advantages reach the closing table.
1
Long, fixed amortization
Up to 35 years on existing assets and 40 years on new construction, fully amortizing with no balloon and a rate fixed for the full term.
2
Nonrecourse
No personal liability beyond standard bad act carve outs, protecting sponsor balance sheets.
3
High leverage
Up to 87% for market rate and 90% for affordable and rental assistance properties.
4
Fully assumable
Loans transfer with the asset subject to HUD approval, adding real value at sale.
LOAN PROGRAMS
One platform, the full FHA toolkit.
Two complementary tracks — multifamily and healthcare — covering market rate and affordable housing, seniors housing, and skilled nursing. Terms are indicative; final structure follows underwriting and market conditions at rate lock.
Healthcare & Seniors Housing
PROPERTY CLASS
Section 223(a)(7)
PURPOSE
Refinancing Properties with Existing HUD Debt
TERM & AMORTIZATION
Up to 12-yr extension, or original loan term
LEVERAGE
No LTV Test
Loan amount is principally limited by existing FHA-insured debt and eligible transaction costs.
MINIMUM DSCR
For Profit: 1.11x
Nonprofit: 1.05x
PROPERTY CLASS
Section 232/223(f)
PURPOSE
Acquisition & Refinance
TERM & AMORTIZATION
Up to 35 yrs, fully amortizing
LEVERAGE
For Profit: 80% LTV
Nonprofit: 85% LTV
MINIMUM DSCR
1.45x
PROPERTY CLASS
Section 241(a)
PURPOSE
Supplemental Loan
TERM & AMORTIZATION
Supplemental and first mortgage must expire on same date
LEVERAGE
Up to 90% LTV and 90% LTC
MINIMUM DSCR
1.45x
Combined first and supplemental mortgages
PROPERTY CLASS
Section 232
PURPOSE
Construction & Substantial Rehab
TERM & AMORTIZATION
40 yrs, fully amortizing
LEVERAGE
For Profit: 75%-80% LTV
Nonprofit: 80%-85% LTV
Varies by facility type, see detail below.
MINIMUM DSCR
1.45x
Multifamily — Market Rate & Affordable
Section 221(d)(4)
PURPOSE
New Construction & Substantial Rehab
TERM & AMORTIZATION
Up to 40 years, fully amortizing after construction; plus the insured construction period
LEVERAGE
Market Rate: 87% LTC
Affordable/Subsidized: 90% LTC
Eligible Middle Income: 90% LTC
MINIMUM DSCR
Market Rate: 1.15x
Affordable/Subsidized: 1.11x
Eligible Middle Income: 1.11x
Section 223(f)
PURPOSE
Acquisition & Refinance
TERM & AMORTIZATION
Up to 35 yrs, fully amortizing
LEVERAGE
Market Rate: 87% LTV
Affordable: 90% LTV
Subsidized: 90% LTV
Cash-out refinancing remains subject to the separate 80% LTV criterion.
MINIMUM DSCR
Market Rate: 1.15x
Affordable/Subsidized: 1.11x
Section 223(f) Heavy
PURPOSE
Value-Add & Repositioning
TERM & AMORTIZATION
Up to 35 yrs, fully amortizing
LEVERAGE
Market Rate: 87% LTV
Affordable/Subsidized: 90% LTC
Eligible Middle Income: 90% LTC
MINIMUM DSCR
Market Rate: 1.15x
Affordable/Subsidized: 1.11x
Section 223(a)(7)
PURPOSE
Streamlined Refinance of Existing FHA-Insured Debt
TERM & AMORTIZATION
Up to 12 years past existing originally-insured FHA mortgage maturity, Subject to 75% of remaining useful life/original maximum term.
LEVERAGE
No LTV Test
Up to 100% of eligible refinancing costs, subject to the original insured principal balance and applicable sizing limits.
MINIMUM DSCR
Market/Affordable: 1.11x
Subsidized: 1.05x
WHO WE SERVE
Capital Across the Housing Spectrum.
Assisted Living & Skilled Nursing
Residential care facilities served through the Section 232 LEAN platform.
Senior Housing
Independent and assisted living communities seeking long term, fixed rate permanent debt.
Affordable Multifamily
LIHTC, Section 8, and rental assistance properties qualifying for the highest leverage and lowest coverage.
Market Rate Multifamily
Conventional apartments financed for acquisition, refinance, value add, or ground up construction.
OUR PROCESS
A defined path from engagement to closing.
Multifamily moves through MAP and healthcare through ORCF. Blueprint manages every step so the timeline stays predictable and the file stays clean.
1
Screen & size
We model the asset, confirm eligibility, and issue indicative sizing and a quote.
2
Engagement
Term sheet executed and third party reports ordered: appraisal, PCNA, Phase I.
3
Application
Underwriting package assembled and submitted to HUD for review.
4
Firm Commitment
HUD issues commitment; borrower locks rate ahead of closing.
5
Close, Draw, & Service
Loan closes and transitions to Blueprint's servicing team.
TRANSACTION EXPERIENCE
Execution that brings stability and opportunity.
A selection of recent FHA / HUD financings across the multifamily and healthcare spectrum.
Healthcare & Seniors Housing
BRIDGE TO HUD
748 Bed SNF Portfolio
Interim bridge financing positioned a skilled nursing portfolio for a seamless transition into long term HUD insured permanent debt.
Transaction Volume
$75,416,300
232 / 223(F)
Three Community Scattered Site
Combined three proximate assisted living communities into a single refinance, saving the sponsor time and cost while freeing capital for reinvestment.
Transaction Volume
$3,890,000
232 / 223(F)
58 Unit Memory Care Community
Retired a bridge loan into permanent FHA insured debt, locking in long term stability for a specialized memory care asset.
Transaction Volume
$6,958,000
Multifamily
Refinance
- 207/223(f)
124 Unit Section 8 Elderly Apartments
Provided capital for the refinancing of existing bond debt for a Chicagoland asset.
$22,219,100
Transaction Volume
Refinance
- 207/223(f)
150 Unit Affordable Apartments for the Elderly
150 unit asset located in Arizona.
$17,200,000
Transaction Volume
Refinance & Upgrade
- 207/223(f)
Affordable Apartment Buildings for the Elderly
Executed the refinance of existing capital debt for a 3 asset portfolio in Kentucky.
$16,970,000
Transaction Volume
OUR TEAM
Immediate access to unmatched execution expertise.
Origination, underwriting, and servicing under one roof — senior bankers who have closed FHA / HUD loans through every market cycle.
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Tony Marino
Senior Managing Director, HUD
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Ramona Mitchell
Chief Underwriter, HUD
Yvonne Redd
Director, HUD Servicing
Brian Therkildsen
Director, HUD