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

JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

Base Pay/Salary
Chicago, IL $95, 000.00 - $140, 000.00 / year