To help develop group practice facilities. HUD insures lenders against loss on mortgage loans. These loans may be used to finance the construction or rehabilitation of facilities, including major movable equipment, for the provision of preventive, diagnostic, and treatment services by a medical, dental, optometric, osteopathic, or podiatric group. No mortgages have been insured under this program in many years.
Persons needing medical, dental, osteopathic, optometric or podiatric services are eligible.
Documentation regarding the characteristics of the property and the qualifications of the mortgagor are assembled by the mortgagee and submitted with the application. Applications are also subject to review by the local Health Systems Agency. This program is excluded from coverage under OMB Circular No. A-102. An environmental assessment is required for this program. An applicant should consult the office or officials designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review.