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Scottish Rite House

Summit Commons

McDade Chinchilla Apartments

Waterview Villa

Au Sable Valley Apartments

Country Club Pointe

HUD’s Section 221(d)(4) Addition by Subtraction

The HUD Section 221(d)(4) program provides high leverage, long-term, fixed-rate multifamily financing – 85% of cost and a 40-year amortization. Debt service coverage requirements are a modest 1.17, loans are assumable, and did we mention they also are non-recourse?

With Apologies to David Letterman, SMF Presents…

Recent volatility in the capital markets has many multifamily housing owners and operators “clutching their pearls” about the availability of financing at reasonable terms and conditions.

SMF Does the Jersey Shore, Preserves Affordable Elderly Housing

Wesley by the Bay is an affordable senior housing community located in Ocean City, NJ and sponsored by the United Methodist Homes of New Jersey. The Project, consisting of four buildings, was built in the early 1980s with a high-interest rate HUD Section 202 Direct Loan.

Green MIPs Coming to HUD-Insured Healthcare Facilities

HUD recently announced that it will be offering lower MIPs for healthcare loans starting on or about October 1, 2022, the start of the new Federal fiscal year.

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"Sims Mortgage Funding has been a trusted partner of Parkview Community Hospital since 2011, when they helped us refinance our short-term, high interest rate debt with a HUD-insured loan. They have a strong knowledge of HUD's programs and procedures, and were able to skillfully lead the hospital, architect and construction manager through a complicated financing process and to a successful closing."

Stephen PopkinCEO, Parkview Community Hospital Medical Center

"We really appreciate all the hard work Sims provided our organization. They helped us navigate through a complicated HUD financing process that resulted in considerable financial benefit to the project and to our elderly residents"

Steve GouldProperty Manager, Community Realty Manangement