News

For owners and managers of affordable housing projects with Section 8 rental assistance, to paraphrase Dickens, it is the best of times and it is the worst of times. 

It’s right there on our website, telling you who we are:

Sims Mortgage Funding, Inc. originates, underwrites, and funds loans for healthcare and housing projects. We focus primarily on financings insured through Federal Housing Administration (FHA) programs…

One of the trendier types of real estate these days are BTRs and SFRs. Wut? Build To Rental (BTRs) and Single Family Rentals (SFRs) are single-family homes and/or combinations of single-family and attached homes or townhouses that are operated as a multifamily rental community. They feature apartment-type amenities and provide residents with more space and the appearance of home ownership on a rental budget. Wall Street and a host of other institutional investors have deployed significant capital towards the acquisition and development of BTRs and SFRs.

In the 1980 classic movie, The Blues Brothers claimed they were on a mission from God.

While it may not be as divinely-inspired as Jake’s and Elwood’s cause, HUD has a mission too, but it’s quite lofty if you are searching for capital for multifamily housing projects and coming up short.

One word can summarize HUD’s 2023 mortgage insurance volume – meh! Here is a look at Fiscal Year (FY) 23, which ended on September 30.

The space between affordable and market rate housing development can be a lonely one.  Affordable projects can participate in tax-credit, supplemental grants, and Section 8 housing assistance programs; market rate deals often generate sufficient income to support a simplified capital stack of debt and equity.