What is an Affordable Property?
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Affordable Housing and Subsidized Affordable Properties in Relation to HUD 223(f) Loans
Investors and developers who use a HUD 223(f) loan to acquire or refinance a multifamily property have the choice to make that property affordable. Typically, this involves providing below-market rents and taking advantage of either the HUD Section 8 program or Low Income Housing Tax Credits (LIHTCs).
Who are Affordable Properties Intended for?
Affordable properties are typically intended for seniors, low-income people, disabled individuals, or other disadvantaged groups. Affordable properties using the HUD Section 8 program are sometimes operated by non-profit groups, including some 501(c)(3) organizations.