Bridge-to-HUD financing for assisted living, step by step
Why assisted living owners use a bridge loan before a HUD 232/223(f), the HUD rules that set the timing, and how long HUD data says a 223(f) takes.
Assisted living and memory care, by state
Licensing, supply and financing for assisted living
For owners, operators and developers of assisted living and memory care. Each state's licensing rules and licensed supply, HUD's active Section 232 loans, and a sizer that compares HUD, Fannie Mae and Freddie Mac on one building.
ALF Atlas is independent. It is not affiliated with, endorsed by or acting for HUD, FHA, CMS or any government agency.
- Active HUD 232 assisted living loans
- 1,044
- Outstanding on them
- $8.4 billion
- Median note rate
- 3.50%
- At 5% or more
- 206
HUD active insured mortgages as of September 30, 2026; facility type from HUD's healthcare endorsement records.
The state plates
- ALAlabama
- AKAlaska
- AZArizona
- ARArkansas
- CACalifornia
- COColorado
- CTConnecticut
- DEDelaware
- DCDistrict of Columbia
- FLFlorida
- GAGeorgia
- HIHawaii
- IDIdaho
- ILIllinois
- INIndiana
- IAIowa
- KSKansas
- KYKentucky
- LALouisiana
- MEMaine
- MDMaryland
- MAMassachusetts
- MIMichigan
- MNMinnesota
- MSMississippi
- MOMissouri
- MTMontana
- NENebraska
- NVNevada
- NHNew Hampshire
- NJNew Jersey
- NMNew Mexico
- NYNew York
- NCNorth Carolina
- NDNorth Dakota
- OHOhio
- OKOklahoma
- OROregon
- PAPennsylvania
- RIRhode Island
- SCSouth Carolina
- SDSouth Dakota
- TNTennessee
- TXTexas
- UTUtah
- VTVermont
- VAVirginia
- WAWashington
- WVWest Virginia
- WIWisconsin
- WYWyoming
Licensed counts from the state's own list in 13 states; elsewhere, CDC's 2020 survey estimate.
What is on a state page
Assisted living is licensed by the states, under different names and rules: residential care facilities for the elderly in California, assisted living facilities Type A and B in Texas, adult care homes in North Carolina, community-based residential facilities in Wisconsin. A lender needs to know what the license allows, and HUD needs the building licensed or regulated with at least 20 beds.
Each state page names the licensing agency and license types, links the official list, and where the state publishes a usable list counts the facilities, the licensed beds or units, how many reach HUD’s 20-bed minimum and how much memory care capacity is licensed. Beside that sit CDC’s survey estimates for the state and every active FHA-insured assisted living loan there, with its rate, balance and maturity.
Guides
HUD 232 loans for assisted living and memory care
What HUD Section 232 requires of an assisted living or memory care building, how much it lends, what it costs, and how many such loans HUD insures.
HUD vs Fannie Mae vs Freddie Mac for assisted living loans
How HUD 232, Fannie Mae Seniors Housing and Freddie Mac Seniors Housing size the same assisted living building, with a worked example and the limits of each.
Questions people ask
Where does the state data come from?
Licensing details come from each state agency's own site. Licensed counts come from the state's downloadable facility list, where one exists. The CDC survey figures come from the National Post-acute and Long-term Care Study tables on data.cdc.gov, and the loan data from HUD's active insured-mortgage file and its healthcare endorsement database.
Why do some states have no licensed-capacity figures?
Many states publish their assisted living directory only as a search form or a PDF. ALF Atlas does not scrape search forms, so those states show the agency details and the CDC survey estimate instead.
Is ALF Atlas a government site?
No. It is operated by Janover Capital LLC, a commercial mortgage firm, and is not affiliated with HUD, FHA, Fannie Mae, Freddie Mac, CDC or any state agency.