This section of the module will walk you through completing the Rents and Income tab of the HOME Multifamily Underwriting Template. By now you should have completed the HOME and Other Affordable Housing Requirements tab of the Template. Click on the Rents and Income tab to proceed.

After completing this topic, you will be able to:

• Complete the Rents and Income tab of the HOME Multifamily Underwriting Template; and
  
  
• Apply knowledge of basic requirements for the HOME Program and other affordable housing programs to determine the mix of HOME-assisted, market rate, and other affordable units for a given project.

The income of a project depends primarily on the rents it collects. The Rents and Income tab of the Template requires information regarding unit characteristics, unit mix, and rents in order to calculate project revenues. The information you supply in the Rents and Income tab is also used to calculate project income and other important information in subsequent tabs of the Template, so it is necessary to complete Rents and Income before moving forward.

Specifically, this topic covers the following subject areas:

• Unit Characteristics
• Rent Projections
• Other Revenue

Once the Rents and Income tab is completed, proceed to the Development Costs tab of the template.