Using HOME to Underwrite Multifamily Housing Development

Information by State  Print version   In This Section   Introduction   About the HOME Multifamily Underwriting Template   Getting Started with Multifamily Underwriting   Underwriting Overview   Template Introduction   HOME and Other Affordable Housing Requirements   Rents and Income   Development Costs   Operating Expenses   Financing Sources   Custom Loans   Operating Pro-Forma   Gap Analysis   Template Summary Page

Introduction

Nationwide, the supply of affordable housing is critical to the well-being of low-income and very low-income families. The HOME Program helps to expand the supply of decent, affordable housing by providing funds for local activities that support rental housing development in America's communities.

The primary audiences for this HOME Front module and the accompanying HOME Multifamily Underwriting Template are non-profit staff, participating jurisdiction staff, and HUD staff. These practitioners play important roles in helping to expand the supply of affordable housing in America, and their knowledge and skills are crucial to the successful design and implementation of affordable housing projects.

This module is designed to help enhance the knowledge and skills of these practitioners by providing basic guidance on multifamily underwriting terminology and fundamental concepts, while also serving as an instructional tool for the use of the HOME Multifamily Underwriting Template.

After completing this module, you will be able to:

• Describe the terminology and fundamental concepts of multifamily underwriting under the HOME Program;
• Describe the requirements of the HOME Program related to rental housing development; and
• Download and use the HOME Multifamily Underwriting Template to assist in planning and/or evaluating the financial aspects of a rental housing project utilizing HOME funds.

Specifically, this topic will cover the following topics:

• About the HOME Multifamily Underwriting Template
• Getting Started with Multifamily Underwriting