Securitized Products Group - Tax Oriented Investments - Associate

Help expand access to affordable housing by underwriting and supporting the execution of LIHTC equity investments across the U.S.

Job summary

The Housing Investments team within JPMorganChase’s Tax Oriented Investments (TOI) group is seeking an Underwriter to support transaction teams in underwriting, structuring, and closing equity investments in affordable multifamily communities nationwide through the Low-Income Housing Tax Credit (LIHTC) program. You will analyze real estate fundamentals, evaluate opportunities sourced from syndicator partners, and support the Transaction Manager throughout the investment lifecycle—from initial feasibility through closing and post-closing handoff.

Job responsibilities

• Support the Transaction Manager in evaluating new opportunities from syndicators, including feasibility reviews, preliminary prospecting models, portal uploads, and bid-cycle recordkeeping
• Prepare preliminary approval materials and maintain tracking databases for pipeline and approvals
• Develop site visit materials and participate in meetings/interviews with developers and key stakeholders, as appropriate
• Review third-party reports (e.g., market studies, appraisals) and conduct independent market/demographic research to inform underwriting conclusions
• Analyze pro forma rents, operating budgets, and subsidy structures (e.g., Section 8, public housing), and assess impacts to investment performance
• Coordinate due diligence documentation and manage checklists with syndicators, developers, and external counsel; review key documentation for alignment with guidelines and models
• Prepare investment summaries and support Investment Committee presentations, closing/post-closing activities, and partner relationship management

Required qualifications, capabilities, and skills

• Strong analytical, quantitative, and problem-solving skills
• Advanced proficiency with spreadsheets and databases
• Excellent written and verbal communication skills, including presentation capability
• Highly detail-oriented with strong accuracy and follow-through
• Ability to work independently and effectively with stakeholders across levels of management
• Strong organizational skills with the ability to prioritize competing deadlines
• Ability to synthesize third-party reports, market research, and documentation into clear underwriting recommendations

Preferred qualifications, capabilities, and skills

• Bachelor’s degree in business, finance, real estate, urban planning, or a related field
• Familiarity with affordable housing finance and/or LIHTC transaction fundamentals
• Experience building or reviewing real estate underwriting/prospecting models (including reconciliations)
• Interest in deepening tax and accounting knowledge across the LIHTC investment lifecycle