Century Health & Housing Capital (Century) has launched a Bridge-to-HUD Loan Program, providing short-term, interim financing that allows borrowers time to structure an FHA/HUD-insured mortgage that aligns with their goals. Bridge loans are effective to close on an acquisition, fund a recapitalization, or complete renovations while a permanent HUD loan is prepared, underwritten, and closed.
Century works closely with borrowers, nationwide, on market-rate, affordable, and healthcare transactions to achieve their financing goals. “We are excited to stand up our own Bridge-to-HUD Loan Program, which will allow us to flexibly structure loans that align with our clients’ goals. Funding your vision is our mission is the guiding principle at Century. By adding a Bridge-to-HUD Loan Program to our platform we can further assist our borrowers nationally in meeting their financing needs, whether it is to take advantage of an off-market acquisition or a recapitalization to increase rents, we are excited to offer a faster interim financing option,” said Century President and CEO Kyle Perry.
Century’s Bridge-to-HUD loan program offers a risk-adjusted spread that floats over 30-day Secured Overnight Financing Rate (SOFR), keeping interim pricing competitive with the broader bridge market; interest-only debt service during the bridge term keeps cash flow available for stabilization and lease-up; typically, a 12-month term with extension options available; and up to 80% Loan-to-Value and 80% Loan-to-Cost with a minimum 120x stabilized Debt-Service Coverage Ratio (DSCR).