The main benefit of becoming a 501(c)(3) organization is that it is exempt from paying federal income tax. Additionally, 501(c)(3) organizations may use HUD 223(f) loans to acquire or refinance affordable properties for certain underserved populations. HUD 223(f) loans offer relaxed underwriting requirements and permit higher Loan-to-Value (LTV) ratios than market-rate HUD 223(f) loans. 501(c)(3) organizations may also take advantage of the HUD Section 8 program, which offers housing vouchers to low-income families, and, in exchange, offers building owners a specific per-unit subsidy. However, 501(c)(3) organizations typically cannot take advantage of the Low-Income Housing Tax Credit (LIHTC) program, since, as charitable organizations, individuals are not allowed to financially benefit from their activities.