Subsidized Affordable Housing Definition
With subsidized affordable housing properties, residents receive rent assistance but are required to pay at least 30% of their income for rent and utilities. Examples include HOPWA Facility-Based Housing, Section 8 Public Housing, and Homeless Project-Based Units. HUD multifamily loans, such as the HUD 221(d)(4) loan and the HUD 223(f) loan, are fully equipped to take advantage of the HUD Section 8 program. Refinancing one of these loans with a HUD 223(a)(7) loan will not impact the property’s eligibility or participation in the Section 8 program.