Senior Housing Loan Underwriter

Overview

Prince William County Government is seeking a Senior Housing Loan Underwriter in the Office of Housing to perform underwriting and financial analysis for gap financing loans for multifamily and single-family affordable housing proposals through the Affordable Housing Trust Fund (AHTF).

The candidate should support the belief that safe, stable, affordable housing opens doors to a better living environment for everyone.

• 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.

• Be analytical, dedicated, and mission-driven, taking pride in work and thriving in a collaborative environment.
• Be able to work independently and thrive in a fast-paced environment.
• Enjoy working on a variety of projects.
• Take ownership of coordinating and delivering results, and be interested in learning about affordable housing and finance.
• Have exceptional verbal and written communication skills.
• Have strong interpersonal skills with the ability to work independently and collaboratively.
• Have excellent organizational and analytical abilities with strong attention to detail.
• Be able to manage multiple priorities and meet deadlines in a high-volume environment.
• Demonstrate problem-solving skills and sound judgment in adapting to evolving situations.
• Have a strong work ethic with the ability to work independently and as part of a team.
• Be able to manage multiple priorities and meet deadlines.

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.

• 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…