Property type
Senior housing loans, matched to your deal
A senior housing loan finances independent living, assisted living or memory care communities, where the income comes from residents who pay for housing and care together. Lenders read it as an operating business inside real estate: the operator's record, the mix of care levels, occupancy and the staffing model matter as much as the building. Programs disagree about how much of the value is real estate and how much is operations, which is why a senior housing file belongs in front of several at once.
- 5,000+loan programs screened
- 5–8matches on a typical deal
- $0 upfrontto submit and compare offers
- 0.50–1.00%broker fee, paid only at closing
Who is a senior housing loan actually for?
Owners and operators buying, refinancing or building a community for older residents: an independent living campus with dining and activities, an assisted living community with care staff, a memory care wing, or a continuum that combines them. Age-restricted apartments with no services are usually financed as multifamily, and a skilled nursing facility sits with the healthcare programs.
What do senior housing lenders disagree about?
The operator and the care mix. Programs take different views on whether the borrower must also be the operator, how to value a community whose income depends on staffing that can change, what share of higher-acuity care they will finance, and how to treat a lease-up that runs on move-ins rather than on leases. Some lenders are dedicated to the sector and underwrite the operations line by line; others finance only the real estate and want an experienced operator with a long-term management agreement in place.
What should be ready before a senior housing file goes out?
The census by care level and the rate card, occupancy and move-in history, the operator's experience and the management agreement, the staffing plan and the state approvals the community operates under, and the operating statements with care revenue and housing revenue shown separately. Files that arrive with operations and real estate already separated get taken seriously faster, because that split is the first thing a senior housing desk makes.
How does getting matched actually work?
You describe the deal once — about five minutes — and it is screened against 5,000+ loan programs. Most deals return 5–8 matches, and the median first offer arrives in under an hour. There is $0 upfront; the fee is 0.50–1.00%, paid only at closing.
YieldStack is a commercial mortgage brokerage, not a lender. The rate, the leverage and the credit decision belong to the lenders competing for your deal; our job is making sure the right ones see it at the same time, so the terms you compare are real competition rather than one desk’s appetite.
What do lenders actually look at?
Every program weighs these in its own way — which is the argument for several quoting at once.
- The operator's track record with communities of this type and size
- Occupancy and move-in trend by care level
- The staffing model and whether the margin survives it
- The state approvals and survey history of the community
- How the value splits between the real estate and the operating business
Frequently Asked Questions
Is senior housing financed like apartments?
Independent living is closest to it, but every level with care attached is read as an operating business as well as a building. The operator and the census carry the file in a way an apartment rent roll never does.
Do agency lenders finance senior housing?
Yes, through dedicated programs with their own operator and experience requirements. Banks, debt funds and bridge lenders also compete, and the right fit depends on where the community is in its life.
What if I own the real estate but a third party operates it?
That is a common structure. Lenders will underwrite the operator's agreement and record as part of the file, and some programs prefer it to an owner learning to operate.
How is a new community financed during lease-up?
With a construction or bridge loan sized on the projected census, then a permanent refinance once occupancy stabilizes. Move-in pace is the number lenders watch during that period.
Does memory care change the loan?
It changes the underwriting. Higher-acuity care means higher staffing, more regulatory scrutiny and different resident turnover, and programs differ on how much of it they will finance.
Is a skilled nursing facility the same thing?
No. Skilled nursing is clinical healthcare with a different payer mix and regulatory posture, and it is financed through healthcare programs rather than senior housing programs.
Is YieldStack a lender?
No. YieldStack is a commercial mortgage brokerage, not a lender. Every term sheet comes from a lender in the network and is subject to that lender's underwriting.
Does it cost anything to see terms?
No. It costs $0 upfront to submit a deal and review offers; YieldStack's broker fee is 0.50–1.00% of the loan amount and is paid only at closing.
Is financing guaranteed?
No. Every credit decision is made by the lender; YieldStack arranges the introductions and negotiates on the borrower's side, and no loan, rate, or closing is guaranteed.
Next step
One deal.Several lenders.
YieldStack is a commercial mortgage brokerage, not a lender.