Mortgage Insurance Nursing Homes, Intermediate Care Facilities, Board and Care Homes and Assisted Living Facilities
Active
- Assistance listing
- 14.129
- Agency
-
Assistant Secretary for Housing Federal Housing Commissioner
Department of Housing and Urban Development
- Grant awards
- Not on record
Program facts
- Also known as
- Section (232)
- Treasury account
-
- 86-4077-0-3-371
- More information
Program details come from SAM.gov Assistance Listings. Updated .
About this program
The Department of Housing and Urban Development (HUD) provides mortgage insurance to facilitate construction, rehabilitation, purchase, or refinancing of nursing homes, intermediate care facilities, board and care homes, and assisted living facilities under Assistance Listing 14.129, with no recent grant award activity reported in the available portfolio data.
The program operates as a mortgage insurance mechanism rather than a direct grant award program. HUD approves lenders to originate loans, then insures those mortgages against default, enabling financing for residential care facility development and capital projects. Eligible mortgagors include investors, builders, developers, public entities, nursing home operators, and private nonprofit corporations or associations. HUD makes final approval or rejection decisions on individual projects; applicants may reapply if initial applications are refused, with reapplication encouraged when modifications address HUD's stated concerns. Processing timelines depend on sponsor preparation quality and application completeness. Environmental Impact Studies may be required depending on project scope. HUD reserves audit rights over mortgagee and mortgagor accounts to verify compliance with HUD regulations and standards; mortgagors must provide audited annual financial statements, and mortgagees must maintain records and service loans in accordance with prudent lending practices and FHA regulations.
The mortgage insurance structure means this program functions differently from typical project grant or cooperative agreement vehicles — it facilitates debt financing rather than awarding federal funds directly. Organizations seeking to develop or expand residential care capacity typically access this program through HUD-approved lenders rather than applying directly to HUD for grant funding. No recent grant opportunities or award activity is supported by the source material provided, suggesting this program may warrant outreach to HUD's mortgage insurance team or review of current lender participation to determine current availability and processing status. The program's reliance on lender partnerships and its audit and financial statement requirements indicate it targets financially stable operators or developers with capacity to meet HUD's compliance standards.
Objective and description
- Objective
To provide mortgage insurance to HUD-approved lenders to facilitate the construction or rehabilitation of nursing homes, intermediate care facilities, board and care homes and assisted living facilities, to allow purchase or refinancing with or witho
- Description
Provides mortgage insurance for residential care facilities, Nursing homes, assisted living, facilities, board and care.
Eligibility
- Applicant eligibility
Eligible mortgagors include investors, builders, developers, public entities, nursing homes and private nonprofit corporations or associations.
- Beneficiary eligibility
Residents requiring skilled nursing, custodial care, and assistance with activities of daily living are eligible to live in a structure whose mortgage is insured under the program.
- Uses of assistance
Section 232 insures lenders against loss on mortgage defaults. Insured mortgages may be used to finance construction or renovation of facilities to accommodate 20 or more patients requiring skilled nursing care and related medical services, or those who while not in need of nursing home care, are in need of minimum but continuous care provided by licensed or trained personnel. Board and care homes and assisted living facilities are also eligible and must contain a minimum of five accommodations or units. Nursing homes, intermediate care facilities, board and care homes and assisted living facilities may be combined in the same facility covered by an insured mortgage or may be in separate facilities. Nursing homes, intermediate care facilities, board and care homes and assisted living facilities must be licensed or regulated by the appropriate state agency, municipality, or other political subdivision where located. Contractors for new construction and substantial rehabilitation projects must comply with prevailing wage requirements under the Davis-Bacon Act.
- Length and time phasing of assistance
The maximum mortgage term is 40 years for new construction and substantial rehabilitation. The maximum term for existing projects without substantial rehabilitation is 35 years.
How to apply
- Preapplication coordination
Depending upon the project, an Environmental Impact Study may be required.
- Award procedure
HUD makes the final decision to approve, or reject individual projects.
- Time to approval or disapproval
Processing time depends upon the degree of preparation by the sponsor and the completeness of the package submitted by the FHA Approved Lender.
- Renewals
The term of a commitment to insure may be extended when more time is required to close the loan.
- Appeals
If an application for mortgage insurance is refused, HUD will state the reasons for the refusal. If reapplication is desired, the applicant may modify the application and reapply.
Quick answers
What is Assistance Listing 14.129?
Assistance Listing 14.129 is Mortgage Insurance Nursing Homes, Intermediate Care Facilities, Board and Care Homes and Assisted Living Facilities, a federal grant program run by Assistant Secretary for Housing Federal Housing Commissioner (Department of Housing and Urban Development).
What is the CFDA number for Mortgage Insurance Nursing Homes, Intermediate Care Facilities, Board and Care Homes and Assisted Living Facilities?
Its CFDA number is 14.129: Assistance Listing numbers were called CFDA numbers before 2018.
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