Affordable Housing & Government LIHTC Low-Income Housing Tax Credit — a federal program incentivizing affordable rental development.
Affordable Housing & Government Mixed-Income Development A property combining market-rate units with subsidized affordable units.
Affordable Housing & Government Naturally Occurring Affordable Housing (NOAH) Older market-rate housing that’s affordable without subsidies.
Affordable Housing & Government Project-Based Voucher A Section 8 voucher attached to a specific unit rather than to a household.
Affordable Housing & Government Section 8 A federal housing-choice voucher program that subsidizes rent for low-income tenants.
Affordable Housing & Government Workforce Housing Housing affordable to households earning 60-120% of area median income.
Appraisal & Valuation Adjustment Dollar additions or subtractions to comparable sale prices to account for differences.
Appraisal & Valuation AMC Appraisal Management Company — a third party that orders and reviews appraisals for lenders.
Appraisal & Valuation Appraisal Gap The difference between an offer price and a lower appraised value.
Leasing & Operations Cancellation Option A tenant’s right to terminate the lease early, usually with notice and a fee.
