Compare tax exempt muni bonds to standard HUD programs and you'll find that our programs offer more options and profit for the developer.

2. Non-profit

3. Non-recourse

4. Automatic allocation

5. Davis-Bacon does not apply

6. One source for underwriting and funding

7. No advance fees for inspection or “per door” fees

8. 90 - 120 days total time to fund

9. 90% LTV (future value, year 5)

10. 10% Equity (approx)

11. 50% of improved land value as equity, land is debt financed

12. 100 % Market Rate Rent

13. Rates, 7.625%(A), 5.0%(B)

14. Term, up to 35 years

15. 5% Fee (Advisory/Underwriting)

16. Monolithic note structure

17. Easy resident migration from phase to phase (SIL/SAL/SNF)

19. For-profit or non-profit

20. Non-recourse

21. Not relevant

22. Davis-Bacon applies

23. Multi-level agency approvals for underwriting and funding

24. Advance fees and $350 per door fee for underwriting

25. Up to 365+ days to fund

26. 80% LTC (construction cost)

27. 20% Equity (approx)

28. 100% of land cost as equity, land is not debt financed

29. Possible income restrictions

30. Rates, between 5.5% - 6%

31. Term, up to 40 years

32. 3-4% Fee (inc. MIP)

33. Segregated note structure

34. No contract migration, Each phase has separate contract

35. Marketing segregated by phase