About Us

Cal-Mortgage is a Division of the Office of Statewide Health Planning and Development (OSHPD). Cal-Mortgage administers the California Health Facility Construction Loan Insurance Program (Program). Cal-Mortgage provides credit enhancement for eligible health care facilities when they borrow money for capital needs. Cal-Mortgage insured loans are guaranteed by the "full faith and credit" of the State of California. This guarantee permits borrowers to obtain lower interest rates, similar to the rates received by the State of California.

Eligible Health Facilities must be owned and operated by private nonprofit public benefit corporations or political subdivisions such as cities, counties, healthcare districts or joint powers authorities. Health facilities eligible for Cal-Mortgage Loan Insurance include:

  • Hospitals, of any type
  • Skilled nursing facilities
  • Intermediate care facilities
  • Public health centers
  • Clinics and other outpatient facilities
  • Multi-level facilities (which include a residential facility for the elderly operated in conjunction with an intermediate care facility, a skilled nursing facility, or a general acute care hospital)
  • Laboratories
  • Community mental health centers
  • Facilities for the treatment of chemical dependency
  • Child day care facilities in conjunction with a health facility
  • Adult day health centers
  • Group homes
  • Facilities for the developmentally disabled or mentally disordered
  • Offices and central service facilities operated in connection with a health facility
Loans may be insured to finance or refinance the construction of new facilities; to acquire existing buildings; to expand, modernize, or renovate existing buildings; and to finance fixed or moveable equipment needed to operate the facility.

For more information on Cal-Mortgage see the Cal-Mortgage Brochure.

Recently Insured Projects

  • Channing House, Palo Alto
    Insured Amount $44,120,000
  • Options Family of Services, Santa Maria
    Insured Amount $2,140,000
  • Casa de las Campanas in Rancho Bernardo
    Insured Amount $39,000,000
  • St. John’s Well Child and Family Center, Inc., Los Angeles
    Insured Amount $5,250,000
  • Institute on Aging, San Francisco
    Insured Amount $34,355,000
  • Channing House, Palo Alto
    Insured Amount $54,045,000
  • Southern California Development Corporation of VOA, Inc.
    Insured Amount $4,700,000
  • Northern California Retired Officer Community, DBA Paradise Valley Estates, Fairfield
    Insured Amount $22,080,000
  • Pilgrim Place, Claremont
    Insured Amount $36,055,000
  • Jewish Home of San Francisco, San Francisco
    Insured Amount $135,920,000

Cal Mortgage Credit Rating

California’s Credit Rating Upgraded to Highest Level in 14 Years, State Treasurer Press Release

  • Standard and Poor's, AA-
  • Fitch, A+
  • Moody's, Aa3

State of California Credit Rating


This page was last updated on Wednesday, April 18, 2018.