Texas Rebuilds
COMMUNITY DEVELOPMENT & REVITALIZATION
The Texas General Land Office - George P. Bush, Commissioner

Underwriting

​Proposed multifamily projects go through underwriting which review the ownership structure, property operations, the sources and uses of funds, and the financial statements of the owner and guarantor (if applicable).  The underlying debt and operating expenses of the property will be reviewed to determine if the project is feasible during the affordability period and demonstrates income adequate to cover operating expenses and applicable debt service.

​The underlying debt and operating expenses of the property will be reviewed to determine if the project is feasible during the affordability period and demonstrates income adequate to cover operating expenses and applicable debt service. 

Sources and uses will be reviewed to determine the adequacy of the funding to complete the project in conjunction with the property condition assessment (PCA). The scope of work including the repair of any hurricane damage will be assessed.​