Loans > Group Home Loans
Helping you help others
At Choice Bank we believe in bettering the places we live. That’s why we’ll work alongside you to ensure you have all the necessary resources to succeed, whether it’s developing a new affordable group home or remodeling an existing home to serve as a group home. We recognize the importance of group homes serving those with special needs in our communities. Just like you, we have a passion for putting #PeopleFirst and enhancing the quality of life of those we serve.
Choice Bank is one of only a few banks in the U.S. that offer a loan program designed just for group homes, providing unique benefits and advantages. The Group Home Real Estate Loan Program is designed to provide long-term, fixed-rate financing for community-based homes for children and adults with disabilities who are unable to live independently.
Our loan experts have extensive knowledge of the specific considerations that come into play when developing and operating a group home. This loan program is unique to Choice Bank. The Group Home Real Estate Loan is informed by the experiences of group home providers and designed to address your specific needs and challenges.
The benefits of the Group Home Real Estate Loan through Choice Bank include:
- Competitive interest rates
- Fixed-rate, long-term financing for up to 30 years
- A knowledgeable team that will guide you through the loan approval process
The group home loans are serviced by Choice Bank, so the same team that helped you through the approval process will be available to answer your questions and provide additional insight and support well into the future.
This program provides financing to group home providers who wish to develop new affordable group home units or acquire existing homes and modify them to serve as a group home supporting those with special needs, including persons with developmental disabilities, persons with mental illness, and the chronically homeless.
- The number of units
- Clients served and means of referral
- Project beneficiaries by income level
- Proposed location with pictures of the site and indication of the zoning
- Explanation of any environmental issues
- Project cost and sources of financing
- Site plan and floor plans if available
- Statement on whether or not any relocation will be required
- Description of the applicant’s role in the development (i.e. owner, developer, sponsor)
Contact Our Group Home Loans Team
Let’s get started today!