Job Location(s): Lansing, MI (Headquarters); Detroit, MI; Grand Rapids, MI; Chicago, IL; Indianapolis, IN; Madison, WI; Wilmington, DE

Job Summary: Cinnaire Lending is a U.S. Treasury certified Community Development Financial Institution (CDFI). At Cinnaire Lending, a Loan Underwriter evaluates and structures loan transactions and assesses the associated risks and mitigants for affordable housing and community development loans. This includes ensuring that the proposed loan meets underwriting guidelines, is appropriately secured by real estate or other collateral, and that it will provide positive financial and social impacts that align with the CDFI mission.

Essential Duties and Responsibilities:

  1. Underwrites and assists in closing commercial real estate loans, including regulated affordable housing and community development loans.
  2. Prepares and analyzes routine to moderately complex property level pro forma cash flow statements and financial models.
  3. Assesses property valuations to properly size loan requests.
  4. Assesses the financial strength and capacity of the project or development team, including review and analysis of financial statements, real estate schedules, tax returns, and cash flow statements.
  5. Evaluates real estate market conditions where the proposed investment will be located.
  6. Assesses risk of operating expense assumptions by using comparable data from Cinnaire portfolio, appraisal, and/or data provided by the developer and/or management agent.
  7. Identifies factors of the proposed loan that differ from standard underwriting criteria.
  8. Performs site due diligence visits as needed.
  9. Effectively communicates credit characteristics that do not meet standard underwriting criteria to the Director, Underwriting.
  10. Leads conference calls and oversees the collection and review of due diligence documents and identifies potential structural enhancements to improve credit and reduce risk and reviews pertinent documents affecting loan feasibility.
  11. Maintains integrity of files and data entry into the pipeline management system.
  12. Prepares comprehensive loan reports and debt models to present proposed loans to the loan committee.
  13. Participates in orientation meetings, as requested, on closed and transitioned loans.
  14. Maintains business relationships with investors, CDFIs, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and any other related parties.

Qualifications and Skills:

  • Bachelor’s Degree required, preferably in Finance, Accounting, Economics, Business, or Real Estate/Urban Planning.
  • 3 – 5 years of experience underwriting and structuring commercial real estate transactions, preferably multifamily affordable housing, and/or community facilities.
  • Expertise modeling multifamily property cash flow to accurately determine NOI, DCR, trend analysis, and a viable exit strategy.
  • The ability to work under tight deadlines, manage priorities, and complete assigned tasks with minimal oversight.
  • Demonstrated skill in managing the uncertainty of change, handling risk effectively, often without benefit of the total picture.
  • Strong Microsoft Office Suite skills are required.


  • Analysis to Synthesis: Interprets data and information from multiple sources and translates it into coherent messages that inform decisions.
  • Diversity Awareness: Identifies the benefits and advantages of harnessing collective insights from various individuals in the organization.
  • Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances. Does not limit problem solving to one approach or methodology.
  • Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
  • Insight to Action: Acts on conviction and advances from concept to implementation toward a goal. Draws upon knowledge and professional judgement to orchestrate the steps required to get results.

Reporting Relationship: Reports to Director, Loan Underwriting

Supervisory Relationship: None.

Physical Requirements:

  • Ability to work on a computer for extended periods of time.

Travel Required: 20%

Benefits Offered:  Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.

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Our Locations

1118 South Washington
Lansing MI, 48910

320 North Meridian, Suite 516
Indianapolis IN, 46204

100 W. 10th Street, Suite 502
Wilmington, DE 19801

225 West Washington, Suite 1350
Chicago, IL 60606

10 E. Doty Street, Suite 617
Madison, WI 53703

Grand Rapids
100 Cesar E. Chavez Ave., Suite 202
Grand Rapids, MI 49503

2111 Woodward Avenue, Suite 600
Detroit, MI 48201

231 E. Buffalo Street, Suite 302
Milwaukee, WI 53202

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