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This section of the "Using HOME to Underwrite Multifamily Housing Development" module provides background on using the HOME Program for rental housing development and on the structure and usage of the HOME Multifamily Underwriting Template.
After completing this section of the module, you will be able to:
- Define underwriting, as related to the HOME Program; and
- Identify and describe each section of the HOME Multifamily Underwriting Template, as well as describe the interrelation of the sections.
Specifically this topic will cover the following subjects:
Affordable Housing Development and the HOME Program - An introduction to analyzing the financial aspects of a HOME-funded rental housing development project.
The Role of HOME Funds in a Development Project - A look at the role HOME funds generally play in a development project and how HOME ensures that some units remain affordable.
Multifamily Underwriting - A definition of underwriting and a listing of the common elements of any underwriting approach.
The Underwriting Template and Your Project - A description of the primary sections of the HOME Multifamily Underwriting Template and how they relate to a HOME-funded rental housing development project.
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