Tap to get financing
Nasdaq: JNVRCommercial Real Estate Loans
Loan Options
Permanent FinancingLoans Under $1MBridge LoansMezzanine FinancingConstruction LoansUSDA 538 Loan ProgramLife Company LoansSBA 7(a) LoansSBA 504 Loan ProgramFannie Mae LoansFreddie Mac LoansCMBS LoansHUD Multifamily LoansFix and Flip LoansHUD 223(f) LoansHUD 221(d)(4) LoansHUD 223(a)(7) LoansHUD 241(a) LoansHUD 232 LoansHUD 232/223(f) LoansHUD 232 LEAN LoansHUD 232/223(a)(7) Loans
Property Types
All Property TypesRetailOfficeIndustrialApartmentsSelf StorageHotelLandChurchSchoolAuto DealershipAuto Repair ShopCar WashGas StationHealthcareMedical OfficeDental OfficeVeterinaryFitness CenterBowling AlleyConvenience StoreDay Care CenterGolf CourseAnchored Strip CenterRestaurantMarinaWarehouseFuneral Home
Resources
BlogCurrent Mortgage RatesForms and TemplatesCommercial Property for SaleCommercial MLS GuideGlossaryVideo LibraryApply OnlineHow to Get a CRE LoanFrequently Asked Questions
Calculators
Commercial Mortgage CalculatorCap Rate CalculatorNOI CalculatorDSCR CalculatorLTV CalculatorLTC CalculatorDebt Yield CalculatorYield Maintenance CalculatorInternal Rate of Return Calculator
About Us
About UsLeadershipTeamContactWe're Hiring
(561) 556-7778 Get financing →
Interest Rates

Today’s rates for a wide range of commercial property and loan types.
Check Today's Rates →

Newly Published
Aug 23 at Commercial Real Estate Loans
New York’s Industrial Properties: Reviewing H1 2023
Aug 2 at Commercial Real Estate Loans
How to Sell a Commercial Property in September 2023
Jun 30 at Commercial Real Estate Loans
The Comprehensive Guide to Industrial Property Financing in 2023
Explore the Janover Network
Sep 29 at SBA 504 Loans
SBA 504 Loans for Preschools and Daycare Centers
Sep 26 at HUD Loans
What Is Fair Market Rent? 2024 FMR Calculator by ZIP
Sep 25 at Multifamily Loans
Multifamily Minute Reader Reflections: How Do You Communicate Rent Increases?
Was This Article Helpful?
Last updated on Feb 1, 2023
3 min read

HUD 232 Lean Loans

HUD 232 Lean Loans HUD-Insured LEAN Loans for Senior Housing, Assisted Living, and Skilled Nursing Projects

In this article:
  1. How HUD 232 and HUD 232/223(f) Loans are Processed 
  2. HUD 232 LEAN Loan Processing
  3. HUD 232 LEAN Requirements in 2023
  4. Get Financing
Start Your Application and Unlock the Power of Choice Experience expert guidance, competitive options, and unparalleled industry expertise.
Click Here to Get Quotes →
$5.6M offered by a Bank at 6.1%$1.2M offered by a Bank at 6.0%$2M offered by an Agency at 5.6%$1.4M offered by a Credit Union at 6.1%Click Here to Get Quotes!

How HUD 232 and HUD 232/223(f) Loans are Processed 

HUD 232 and HUD 232/223(f) loans are some of the best options in the industry for financing the construction, acquisition, refinancing, and substantial rehabilitation of healthcare properties, including senior living, assisted living, and skilled nursing facilities. These loans used to be processed using TAP (traditional application processing), or MAP (multifamily accelerated processing). However, beginning in 2008, HUD began transitioning to using LEAN processing, a newer, more streamlined form of loan processing. With LEAN processing, some HUD 232 loans can take as little as 4 months to close. 

At Commercial Real Estate Loans, we know how important it is that developers create safe, healthy, and cost-effective housing for America's growing population of senior citizens. That's why we're committed to supporting investors and developers through each stage of the LEAN process for HUD 232 and HUD 232/223(f) loans. In short, we’re here to answer questions, develop solutions, and help you in any way we can. 

HUD 232 LEAN Loan Processing

HUD 232 LEAN processing has instituted a variety of changes to the HUD loan process, including: 

  • Standardized forms, including lender templates, third-party work forms, and certifications

  • Less duplicate forms required (i.e. closing documents do not have to be submitted twice)

  • Propriety earnings carve-outs are not required

  • Borrowers do not submit LEAN applications directly; instead, lenders submit these applications directly to the OCRF (HUD's Office of Residential Care Facilities)

  • HUD 232 LEAN Requirements in 2023

    HUD 232 LEAN processing also has a variety of specific application requirements, including: 

    • Physical Property Exam: HUD requires that a third-party expert examine the property, determining the specific amount of replacement reserves that it will require. If significant work on the property is required, it may require a HUD 232 loan for substantial rehabilitation.

    • Credit/Financial Check/Experience: HUD will examine a developer's credit history, financial health, and will look into any experience they have-- including any other facilities they own/operate (or have owned/operated).

    • Formal Incident Reports: A formal, software-based incident reporting system is required for all properties using HUD 232 loans.

    • Special Portfolio Reviews: If a borrower has three or more properties with the same ownership, HUD may order an additional review and may also require a master lease.

    • Commercial Real Estate Loans is the partner you need to help acquire, build, refinance, or repair your next multifamily or commercial real estate project. Whether you're a small startup or an established company, we have the knowledge and experience to give you more financing options.

      Get a free quote by filling out the form below.

      In this article:
      1. How HUD 232 and HUD 232/223(f) Loans are Processed 
      2. HUD 232 LEAN Loan Processing
      3. HUD 232 LEAN Requirements in 2023
      4. Get Financing

Getting commercial property financing should be easy.⁠ Now it is.

Click below for a free, no obligation quote and to learn more about your loan options.

Get financing →
Janover logo

Commercial Real Estate Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

Janover Inc.

6401 Congress Ave
Ste 250
Boca Raton FL 33487
(561) 556-7778 

hello@commercialrealestate.loans

Commercial Real Estate Loans

Eligible Property Types
Mortgage Rates
Commercial Loan Calculator
Glossary

Site Information

Privacy Policy
Terms of Use

This website is owned by a company that offers business advice, information and other services related to multifamily, commercial real estate, and business financing. We have no affiliation with any government agency and are not a lender. We are a technology company that uses software and experience to bring lenders and borrowers together. By using this website, you agree to our use of cookies, our Terms of Use and our Privacy Policy. We use cookies to provide you with a great experience and to help our website run effectively.

Freddie Mac® and Optigo® are registered trademarks of Freddie Mac. Fannie Mae® is a registered trademark of Fannie Mae. We are not affiliated with the Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA), Freddie Mac or Fannie Mae.

This website utilizes artificial intelligence technologies to auto-generate responses, which have limitations in accuracy and appropriateness. Users should not rely upon AI-generated content for definitive advice and instead should confirm facts or consult professionals regarding any personal, legal, financial or other matters. The website owner is not responsible for damages allegedly arising from use of this website's AI.

Copyright © 2023 Janover Inc. All rights reserved.