Financial Analyst – Affordable Housing Development
Location: Raleigh, NC
About the Employer
Harmony Housing Affordable Development Inc. (HHAD) is a real estate developer of affordable rental housing in the United States. The organization focuses on creating and preserving affordable housing for low-wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501(c)(3) not-for-profit owner and operator of affordable housing.
Team Overview
This role is part of the Finance team and works in close coordination with Accounting, Business Development, Construction, Development, and Executive teams. The position is based in the Raleigh, North Carolina, office and reports to the Director of Finance.
Role Summary
The Financial Analyst is responsible for managing the financial aspects of affordable housing development projects. The role includes underwriting, financing, and closing transactions for the company’s multi-family affordable development platform, including new construction, rehabilitation, mixed-use, and Rural Development projects. The position requires autonomy, accountability, and strong experience in financial analysis and affordable housing finance.
What You’ll Do
Project Finance
- Lead efforts related to underwriting, financing, and closing affordable housing development projects
- Facilitate the collection, organization, review, and analysis of financial due diligence materials
- Prepare, update, and maintain detailed project-level and portfolio-level financial models
- Prepare financial analyses and supporting materials for senior leadership, investment committees, and external stakeholders
- Provide regular project status reports to senior leadership
- Monitor project schedules to ensure financial milestones are achieved
- Track pre-development costs and cash needs for assigned projects
- Lead debt and equity fundraising efforts, including preparing investment packages, soliciting proposals, and negotiating terms
- Identify potential sources of soft funding and incorporate associated terms into financial models
- Assist with applications for tax credits, tax-exempt bonds, and other funding sources
- Monitor project budgets and ensure sources and uses remain balanced
- Prepare closing draws, facilitate project financial closings, and review closing statements for accuracy
Regulatory Compliance
- Ensure adherence to local, state, and federal regulations related to affordable housing financing and reporting
- Review partnership and financial documents to ensure funding terms and conditions are maintained
Stakeholder Engagement
- Communicate with lenders, investors, housing agencies, market analysts, appraisers, auditors, and other deal participants
- Establish and maintain relationships with development partners, brokers, lenders, and equity partners
- Lead meetings with external clients, financial partners, and government agencies as needed
Team Leadership
- Foster a collaborative environment focused on continuous improvement
- Identify and implement process improvements within Finance and Underwriting functions
- Stay informed on industry trends and best practices in affordable housing finance
Required Qualifications
- Bachelor’s degree in accounting, business, finance, real estate, mathematics, or a related field
- Minimum of two years of professional experience in real estate development, real estate finance, or low-income housing tax credit syndication
- Advanced financial modeling skills using Microsoft Excel
- Experience reviewing real estate financial information, including operating statements, rent rolls, audits, and loan documents
- Experience with multi-family affordable housing underwriting, including LIHTC and tax-exempt bond financing
- Familiarity with FHA mortgage insurance programs and Agency debt products
- Strong analytical, problem-solving, and decision-making skills
- Ability to manage multiple projects and work under deadline pressure
- Strong written and verbal communication skills
Preferred Qualifications
- Master’s degree in a related field
Required Criteria
- Ability to work with minimal direction while collaborating with a team
- Ability to maintain attention to detail while managing complex projects
- Satisfactory background check
Equal Opportunity Statement
Harmony Housing Affordable Development is an Equal Opportunity Employer. All applicants are considered without regard to race, color, religion, sex, national origin, age, disability, or any other protected status under applicable law.