What are Affordable Properties?

When it comes to HUD multifamily loans, affordable properties are those which using tax subsidies to provide below-market rents for low-income residents. Common examples include properties using HUD Section 8 housing subsidies, or properties taking advantage of the LIHTC program. HUD 223(a)(7) loans are fully equipped to refinance affordable properties currently financed with HUD 221(d)(4) or HUD 223(f) loans.