Deeply Affordable Housing definition
Deeply Affordable Housing means financing for any (1) affordable housing units restricted to households earning below 30% of area median income3 for a period not less than 10 years, prorated based on the percentage that such units make up of the total number of housing units; or (2) Affordable Housing in a “high opportunity area” as defined by the Federal Housing Finance Agency in 12 C.F.R. § 1282.1(b).
Deeply Affordable Housing means (1) with respect to rental housing, housing that is affordable to households earning up to thirty percent (30%) of the area median income, and (2) with respect to owner-occupied housing, housing that is affordable to households earning up to eighty percent (80%) of the area median income.