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
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
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
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.
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.
"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."
"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"
A Potpourri of HUD Program Ponderings