What is Subsidized Affordable Housing?
Subsidized Affordable Housing and the HUD 223(f) Loan Program Using HUD’s subsidized affordable housing programs, tenants receive rent assistance for housing, but must pay at least 30% of their income towards housing costs (rent and utilities). Some examples include Section 8 Public Housing, HOPW
What is Substantial Renovation?
When it comes to HUD multifamily loans , such as the HUD 223(f) loan , substantial renovation of a property occurs when the required repairs and improvements of a HUD-assisted multifamily rental housing involve replacing two or more major building components. Alternatively, substantial renovation