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Sims Mortgage Funding

SECTION 232 REDUX

HUD’s Section 232 mortgage insurance program is an excellent, tried-and-true option for refinancing existing skilled nursing, assisted living and memory care properties. Section 232 for new construction?  Well, that has
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Sims Mortgage Funding

SIMS MORTGAGE FUNDING 2024 YEAR IN REVIEW

It was a very good year for business development as we added the following new projects to our deal pipeline: Our consulting successes led to higher leveraged, expanded opportunities for
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Sims Mortgage Funding

LOWER DSC AND HIGHER LTC AND LTV = MORE $$$

Happy New Year!  We’re off to a great start in 2025.  HUD just made it official with two recent announcements: we now have lower debt service coverage (DSC) ratios and higher loan to cost/value (LTV/LTC) ratios
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Sims Mortgage Funding

HOW TO INCREASE CASH FLOW WITH MUTM

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. 
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Sims Mortgage Funding

SMF: MORE THAN MORTGAGE BANKERS

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…
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Sims Mortgage Funding

APRIL IS ACRONYM MONTH (AIAM)

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.
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Sims Mortgage Funding

THE MISSIONARY ELEMENT OF HUD FINANCING

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.
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Sims Mortgage Funding

HUD Mortgage Insurance Volume in 2023

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.
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Sims Mortgage Funding

CONGRESS PROPOSES WORKFORCE HOUSING TAX CREDIT PROGRAM

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.
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Sims Mortgage Funding

A Potpourri of HUD Program Ponderings 

Here are several of our observations on recent HUD matters that we’d like to share.
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