THE FOLLOW UP
STATEMENT

Armadale Capital originated mortgage insured under FHA Section 242/241(a) at 5.4% for 25 years

True

Evidence from credible sources supports the statement as accurate. Learn more in Methodology.

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funding

The mortgage was originated and insured with the stated program, interest rate, and term.

Source summary
HUD’s Federal Housing Administration (FHA) insured a $251.2 million supplemental mortgage to fund construction of MUSC Health Indian Land Hospital — an acute care hospital, medical office building, and central energy plant in Indian Land, South Carolina. The loan, originated by Armadale Capital under FHA’s Section 242/241(a) Hospital Facilities program, carries a 5.4% interest rate and a 25-year term; the facility is expected to open in early 2028. HUD says the project will improve access to acute care for residents of northern Lancaster County who often travel out of state for such services.
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Latest fact check

The HUD press release for this transaction explicitly states that the mortgage was originated by Armadale Capital and insured by FHA under its Section 242/241(a) Mortgage Insurance for Hospital Facilities program at an interest rate of 5.4 percent with a 25-year term. HUD is the administering agency for the Section 242/241(a) hospital mortgage insurance program, which corroborates the program cited in the release. Verdict: True — the statement matches HUD’s official announcement and is corroborated by HUD program documentation.

Sources

Timeline

  1. Update · Jan 16, 2026, 10:56 PMTrue
    The HUD press release for this transaction explicitly states that the mortgage was originated by Armadale Capital and insured by FHA under its Section 242/241(a) Mortgage Insurance for Hospital Facilities program at an interest rate of 5.4 percent with a 25-year term. HUD is the administering agency for the Section 242/241(a) hospital mortgage insurance program, which corroborates the program cited in the release. Verdict: True — the statement matches HUD’s official announcement and is corroborated by HUD program documentation.
  2. Original article · Jan 16, 2026
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