Prince William County · 5 days ago
Senior Housing Loan Underwriter
Prince William County, VA
Full-time
Onsite
Senior Level
$98K/yr - $106K/yr
7+ years expPrince William County Government is seeking a creative, strategic, and highly skilled Senior Housing Loan Underwriter. The role involves conducting underwriting and financial analyses for affordable housing proposals, developing financial models, and ensuring compliance with funding requirements.
AssociationGovernment
Responsibilities
Conduct underwriting and financial analyses of multifamily and single-family housing proposals seeking AHTF gap funding for predevelopment, acquisition, and construction, through the County’s Affordable Housing Trust Fund
Apply best practices in the development of affordable and workforce housing
Demonstrate knowledge of NOFAs, RFPs, construction agreements, and related documents
Develop and maintain financial models to assess project feasibility and determine funding awards
Contribute to the development of underwriting guidelines that shape funding decisions
Utilize database and financial software to manage project data and documentation
Review and evaluate applications submitted by developers and borrowers during funding rounds
Assess project design, development, and operating budgets, market need, and environmental considerations prior to application review
Prepare funding recommendations and related documents for the AHTF Manager, Director of Housing, Housing Board, and Board of County Supervisors, including commitment letters, agreements, and legal documents for closing
Coordinate loan closings with legal counsel, lenders, investors, and government partners to ensure compliance with deal terms
Monitor project progress, review payment requisitions, and oversee construction draws
Conduct asset management reviews and manage post-closing activities
Maintain accurate data and support reporting requirements for local funding programs
Represent the Office of Housing and the AHTF program at public meetings and community events as needed
Qualification
Required
High school diploma or G.E.D. and 7 years of direct experience in evaluating affordable housing financing proposals following distinct programs' funding requirements, analyzing financial feasibility, preparing narratives with supporting risk analysis for board decisions, reviewing due diligence, reviewing pro formas, ensuring compliance with funding programs, preparing loan applications and reports for committees and boards
Preferred
Bachelor's degree in accounting, Finance, Business Administration, Economics, Real Estate Development, or a related field (advanced degrees in Finance, Real Estate, or Business Administration preferred)
At least 3 years of full-time experience in accounting, auditing, finance, commercial loan underwriting, or a closely related field
Strong financial analysis and underwriting skills with the ability to assess complex rental and for-sale housing developments
Solid understanding of real estate finance fundamentals and financial analysis principles
Working knowledge of due diligence items required to underwrite real estate transactions, including but not limited to appraisals, environmental, and construction cost review reports
Proficiency in Microsoft Excel, including spreadsheet design and formula creation
Working knowledge of tax credit equity, government, and private lending platforms, including credit enhancement and rental subsidy programs
Working knowledge of federal, state, and local housing funding sources for multi-family, affordable, supportive, and/or permanent supportive housing (e.g., LIHTC, HUD programs)
Familiarity with development real estate due diligence requirements, including appraisals, environmental reviews, proformas, rental market revenue calculations, cash flow methodology, and development budgets
Benefits
Retirement from the Virginia Retirement System (VRS)
401a and 457 retirement savings and investment plans
Paid Annual Leave
Paid Personal Leave
Paid Sick Leave
Paid Holidays
Optional Group Medical and Dental Health Plans
Optional Group Life Insurance
An Employee Assistance Program (EAP)
Career Development Opportunities
Company
Prince William County
Prince William County offers information about William County for travelers and residents alike.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Michelle Attreed, CPA, MPA, CGMA
Chief Financial Officer
Annamarie De Roque
SR HR Business Partner, Employee & Labor Relations
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