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No matter how you slice it, the HUD application process can be onerous. “We don’t sugarcoat it,” says Cambridge Realty Capital Founder and President Jeffrey Davis. “When a client makes inquiries about applying for a HUD loan, we are very straightforward about what is involved and what they will need to bring to the table in order to achieve a successful outcome.”
Historically speaking, some senior care owners and developers have shied away from HUD funding because of the perception that there are too many hoops to jump through. This is one of the reasons the HUD Lean application was introduced, which helped to significantly expedite the loan process. Still, having one’s ducks in a row, so to speak, is strongly recommended in order to get through the application process and close in a timely manner.
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