We’re pleased to bring back our “Top 10” segment, but in the interest of reaching a younger demographic, we’ve eliminated the reference to the former late-night talk show host in
Have you ever heard the saying may you live in interesting times? That was the watchword for us last year, as higher interest rates and increasing construction costs posed a
In November, Sims Mortgage Funding, Inc. (SMF) closed a $5,243,000 HUD-insured refinancing loan for Majestic House, a 74-unit, age-restricted affordable community located in Tamaqua, PA.
There are numerous benefits of HUD-insured multifamily loans – they are high leverage, fixed rate, non-recourse and have 35 to 40 year amortizations. All good stuff, but what does HUD
HUD posted on September 21 their Notice of Funding Opportunity (NOFO) for the Section 202 Supportive Housing for the Elderly Program in Fiscal Year 2022.
The HUD Section 221(d)(4) program provides high leverage, long-term, fixed-rate multifamily financing – 85% of cost and a 40-year amortization. Debt service coverage requirements are a modest 1.17, loans are
Recent volatility in the capital markets has many multifamily housing owners and operators “clutching their pearls” about the availability of financing at reasonable terms and conditions.
Wesley by the Bay is an affordable senior housing community located in Ocean City, NJ and sponsored by the United Methodist Homes of New Jersey. The Project, consisting of four
HUD recently announced that it will be offering lower MIPs for healthcare loans starting on or about October 1, 2022, the start of the new Federal fiscal year.
After a recent string of closing refinancing loans for healthcare properties, affordable seniors housing, market-rate housing and a safety-net hospital, Sims Mortgage Funding successfully closed in February a $9,247,200 HUD-insured
"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"
DAVID WHO?