A federal lifeline for financially strapped hospitals
For hospitals struggling with high interest rates on mortgages, bonds, or other debt instruments, the Hospital Mortgage Insurance Program can provide some much-needed relief. Administered by the Federal Housing Administration, the program provides federal insurance for 99% of a hospital’s outstanding loan balance. With this government backing, hospitals can achieve the equivalent of a AA or AAA credit rating, thus helping to significantly reduce their interest rates and improve cash flow.
For hospitals that qualify for the Hospital Mortgage Insurance Program, approvals can be relatively quick, with a median processing time of just 51 days. But getting to the point of application can be a long and arduous process. Outside consultants are required by law to prepare three volumes of supporting materials, including Programmatic Documentation, Financial Documentation, and Architectural/Engineering Documentation.
Maximize your chance of approval in the Hospital Mortgage Insurance Program
At Ascendient, we bring together a team of experts in finance, planning and needs assessment to streamline the application process and win approval as quickly as possible. By leveraging existing research – including Certificates of Need, Community Health Needs Assessments, and more – we provide maximum value to our clients while ensuring the highest likelihood of a successful outcome.
With offices in Washington, D.C., Ascendient has the proximity and the expertise to walk you through every step of the Hospital Mortgage Insurance Program. To discuss how FHA loan insurance might benefit your hospital, please contact Brian Ackerman at 240-776-4752.