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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
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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
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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
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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
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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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Sims Mortgage Funding

CHEERS! HUD’S NEW CNA FORMULA CHANGES CUT CLUTTER AND COMPLEXITY

HUD multifamily lenders, like most of our conventional lending colleagues, underwrite deals based on metrics like loan-to-cost (LTC), loan-to-value (LTV) and debt service coverage (DSC).
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Sims Mortgage Funding

REFINANCING? WE DON’T NEED NO STINKING REFINANCING! OR DO YOU?

We borrowed – and slightly amended - that classic line from Blazing Saddles, and before that, The Treasure of the Sierra Madre, to make this point.
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Sims Mortgage Funding

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.
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Sims Mortgage Funding

WANNA GO GREEN?  HUD WILL SHOW YOU THE MONEY!

Last month HUD announced a new program – funded through the Inflation Reduction Act – that will assist affordable housing properties become more energy efficient, implement new cutting-edge environmental technologies
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