NE1 w Experience in obtaining FHA 232 , 241 Sr Living Loan?

[Shane H.]

Hello,

I'm looking at refinancing our SBA loan debt this summer or fall - and looking at obtaining an FHA Sec 232 loan or I've seen there are some Fannie/Freddie loan programs as well depending on the lender.

I like the fact these are non recourse with carve-outs and depending on the loan can be assumable and with far better interest rates for the life of the loan.

However I'm a bit paranoid about the controls the lender would have over myself/our business and how much it would cost to have audited financial statements.  My accountant quoted $5-10k as he has a couple clients that have to have them done and of course he's familiar with our books and knows the complexity.

Anyways - would be great to connect with someone who has experience in this arena and has obtained one of these loans.

Thanks!