501(c)(3)

What is an Affordable Property?

What is an Affordable Property?

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).

What is a 501(c)(3) Organization?

What is a 501(c)(3) Organization?

501(3)(c) organizations are charitable entities (i.e. trusts, corporations, etc) that are exempt from paying federal income tax. 501(c)(3) is the most common type of nonprofit and/or charitable organization in the US. Common examples are churches, universities, and charitable foundations. Some 501(c)(3) organizations use HUD 223(f) loans to acquire or refinance affordable properties for certain underserved populations.