Senior Associate Underwriting – Affordable Housing

ImpactAlpha Inc.; Northern (KY); Hybrid; USD 120,000 - 180,000; Full time

Benefits offered by this job

Medical, Dental, Vision

Retirement plans

Professional development

Paid time off

Job summary

Local Initiatives Support Corporation (LISC) is seeking a Senior Associate, Underwriting & Fund Investments to independently manage underwriting of complex affordable housing transactions from intake through closing. The role requires strong credit judgment, financial analysis, and experience with HUD and multifamily programs.

You will collaborate with Fund Investments, Construction, Asset Management, and Legal teams across the national platform, travel rarely, and contribute to investment

Qualifications

• 6–8 years of relevant experience in affordable housing finance, commercial banking, or related field.
• Experience underwriting complex multifamily transactions from intake to closing.
• Strong proficiency in financial modeling, cash flow analysis, credit analysis, and Excel.

Responsibilities

• Independently manage screening and underwriting of active transactions across varying stages.
• Perform advanced financial and credit analysis including cash flow, budgets, and debt service metrics.
• Evaluate rents, income, vacancy, operating expenses, and market conditions for feasibility.
• Assess sponsor/developer capacity, structure, and transaction risks.
• Lead underwriting of HUD, Fannie Mae/Freddie Mac multifamily programs and related financing structures; tax credits and New Markets Tax Credits when applicable.
• Prepare memoranda, letters of intent, term sheets, and due diligence materials; present to Investment Committee.

Skills

Financial modeling

Cash flow analysis

Credit analysis

Excel

Communication skills

Job description

Local Initiatives Support Corporation (LISC) is seeking a Senior Associate, Underwriting & Fund Investments to independently manage underwriting of complex affordable housing transactions from intake through closing. The role requires strong credit judgment, financial analysis, and experience with HUD and multifamily programs.

You will collaborate with Fund Investments, Construction, Asset Management, and Legal teams across the national platform, travel rarely, and contribute to investment