Refinance and New Construction
Now a Part of Prisma Health
The sale of an independent practice to a hospital system can create problems with financing the physician-owned real estate, which is then no longer considered “owner-occupied” by banks. It becomes investment property and is afforded inferior loan terms. Despite this challenge, CMAC arranged terms that were far superior to those normally afforded even to owner-occupied properties. The physicians were approved for 100% LTV financing at one of the most competitive interest rates seen at that time, for both their refinance and a new construction project. CMAC also consulted on new physician buy-ins.