Types of senior Housing eligible for Loans

Nursing homes: Nursing homes are intended for senior residents with significant medical conditions, and, much like a hospital, provide 24/7 monitoring of patients’ health needs. Residents generally need help with at least some activities of daily living (ADLs), such as dressing, bathing, or taking medication on schedule. Residents generally do not leave these facilities unless accompanied by a family member or healthcare provider.

Memory or Altheimer’s care centers: Memory or Alzheimer’s care centers generally offer the highest level of care for senior citizens, and are specifically designed for residents with serious memory disorders, which can often lead to behavioral issues such as confusion or aggression. Like nursing homes, memory care residents often need significant help with activities of daily living

Independent living communities: Independent living communities are generally structured as regular apartment communities designed for individuals who are 55-65+. Unlike traditional apartment complexes, however, they often come with additional amenities and a wide variety of events targeted for residents. They may or may not have an assisted living component, but generally, these communities are intended for residents without significant disabilities.

Assisted living centers: Assisted living centers are designed for seniors with a moderate degree of disability and generally offer a mix of independent living and medical care. They are designed for a wide spectrum of residents, with some being extremely independent and others needing more serious medical care.

Intermediate care facilities: Intermediate care facilities are outpatient medical centers generally designed for senior citizens who have recently been discharged from a hospital after suffering a significant injury such as a fall, stroke, heart attack, or other medical problem, and who need significant, but short-term assistance with activities of daily living. Patients will generally stay anywhere from a few weeks to a few months, depending on the severity of their medical issues. Depending on the patient’s condition post-treatment, they may be discharged to a nursing home, an assisted living facility, an independent living community, or even back to their own home.

Continuum-of-care centers: Continuum-of-care facilities generally function of as a combination of several of the above property types, and may contain skilled nursing, independent living, and assisted living areas. This allows patients to stay in the same facility as their medical needs evolve over time.

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