Nature of Program:
HUD insures loans made by lenders to pay for
improvements or additions to apartment projects, nursing homes,
hospitals, or group-practice facilities that already carry
HUD-insured or HUD-held mortgages. Projects may also obtain FHA
insurance on loans to preserve, expand, or improve housing
opportunities, to provide fire and safety equipment, or to finance
energy conservation improvements to conventionally financed
projects. Major movable equipment for nursing homes, group
practice facilities, or hospitals also may be covered by a
mortgage under this program.
Qualified owners and purchasers of multifamily projects and owners
of healthcare facilities (as specified above).
Section 241 of the National Housing Act (12
U.S.C. 1715z-6). Regulations are at 24 CFR part 200, subpart A,
and part 241.