Health Care Facilities Mortgage Insurance for Hospitals Success Stories
FHA has insured 358 hospital mortgages since 1968, strengthening hundreds of communities across the country. Please visit the links below for information on hospitals that have recently accessed capital through the Section 242 program.
Delta Regional Medical Center - On Thursday, February 22, HUD issued a $34.8 million mortgage insurance commitment for the Delta Regional Medical Center (DRMC) in Greenville, Mississippi.
Summit Hospital - In August of 2006, Summit Hospital in Phenix City, Alabama celebrated its grand opening!
Onslow County Hospital Authority - In July 2006, Onslow County Hospital Authority in Jacksonville, NC received a 4.79 percent interest rate on its $55.1 million FHA-insured mortgage.
Medical University Hospital Authority (MUHA) - In 2004, HUD issued the second largest mortgage insurance commitment in its history to build a replacement hospital in Charleston, South Carolina.
University of New Mexico - In 2005, the University of New Mexico celebrated the HUD funding of their new Children's Hospital and Critical Care Pavilion.
Bucyrus Hospital and St. Mark's Medical Center - Smaller hospitals all over the country are using the Section 242 program to fund hospital replacements. This article describes the experience of two such hospitals.
Montefiore Medical Center - Montefiore Medical Center in New York City, winner of numerous awards for quality, IT innovation, and management, has used Section 242 to finance its growth since its first insured loan closed in 1984.
Rio Grande Hospital and Shoshone Medical Center - In July 2003, HUD issued its first commitments on behalf of critical access hospitals. These commitments enabled rural hospitals in Idaho and Colorado to replace their aging hospitals with brand new facilities.
Sinai Health System - Sinai Health System's Schwab Rehabilitation Center was recently profiled in Health Design magazine. Sinai Health System is a Section 242 insured facility.
North Valley Hospital - In 2002, the Management and Board of North Valley Hospital concluded that their existing facility could not continue to meet the health care needs of their growing community. With HUD's help, construction of a new hospital is now underway.
