"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."
HELP US HELP YOU! TOP 10 THINGS WE NEED TO KNOW FOR EFFECTIVE DEAL SCREENING
HUD-insured multifamily construction loans offer terrific terms: 40 year amortization, high loan-to-cost ratios, low debt service coverage ratios and non-recourse provisions.
However, HUD programs can be complicated in terms of process, application stages, basic eligibility, underwriting and credit analysis. Getting the deal screened up front is critical to success and will avoid surprises later. When we have answers to the following questions up front, we can make an accurate – and early – assessment of the deal and the prospects of success with HUD.
When conventional construction lending sources are inactive or only offer very conservative terms when they are lending, HUD’s multifamily construction financing is always available – in good times and bad – and with attractive terms.
Contact us if you want your construction deal screened for HUD-insured financing accurately, quickly and professionally!
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