Sims Mortgage Funding

sims mortgage funding, an fha mortgagee, closes multi-family housing loans

Sims Mortgage Funding, a MAP approved lender under HUD, closed a $16,712,200 221(d)(4) loan for The Village at Fountain Lake, a 240-unit development under construction in Gonzales, LA. The non-recourse loan has a 40-year, fully amortizing term and a fixed interest rate of 5.88%. Sims also closed a $13,348,200 221(d)(4) loan for Nelson Pointe Apartment Homes, a 208-unit property being constructed in Lake Charles, LA. The loan also had a 40-year term at an interest rate of 5.77%. Both projects will be Class A properties with high-end amenities and design features.

The Village at Fountain Lake