Practitioner-grade financial models built by developers who actually closed the deals. LIHTC underwriting templates, capital stack assemblers, AMI/rent calculators, and Year 15 disposition tools. Excel and Google Sheets compatible. Pro members access the full library.
Core deal underwriting models. Inputs: development costs, financing assumptions, equity pricing, debt terms. Outputs: capital stack, sources/uses, eligible basis, applicable fraction, credits, pricing sensitivity.
Full pro forma for 9% competitive deals. Eligible basis build-up, applicable fraction, qualified basis, credit calculation with 30% DDA/QCT boost. Tab-driven inputs for sources, uses, lease-up, stabilization, and 15-year operating projection.
4% deals with bond structuring. Includes the OBBBA-updated 25% financed-by test, bond cap allocation logic, and integration with permanent take-out debt. Bridge financing, construction-period interest, and bond-to-permanent conversion all modeled.
Acquisition/rehab specific underwriting. Handles split basis (acquisition vs rehab), 10% minimum rehab test, related-party prohibitions, prior-credit lookback rules. Built for preservation deals.
Companion sensitivity model. Tornado charts on equity price, soft cost inflation, vacancy assumptions, operating expense growth. Identifies which deal variables actually move IRR vs which don't.
Tools for layering federal, state, and local subsidies into a feasible capital stack. Track gap sizing, soft debt, deferred developer fee, and ensure all sources match all uses.
Input your sources (LIHTC equity, bonds, soft loans, grants, deferred fee, sponsor equity). Output: visual stack chart with percentages, gap identification, and warnings on over-subsidization. Free starter tool.
Iterative gap-sizing model. Plug in your hard debt + tax credit equity, see how much HOME, HTF, or state soft loan you need. Handles HOME maximum per-unit subsidy caps and HTF 30% AMI requirements automatically.
AMI-based income and gross rent limit calculators with built-in HUD MTSP tables, HERA hold-harmless logic, and income averaging support.
Built on the 2026 HUD MTSP tables. Pick your county, household size, and AMI band (30%, 40%, 50%, 60%, 70%, 80%). Returns income limits and maximum LIHTC gross rents by bedroom size. See our AMI calculation explainer for methodology.
For developers using the income-averaging election. Tracks unit-level designations from 20% to 80% AMI, validates the 60% average requirement, flags individual unit non-compliance that triggers building-wide failures (post-2018 HERA fix).
Models for combining LIHTC with adjacent federal and state programs.
Historic Tax Credit (Section 47) and LIHTC (Section 42) combined for adaptive reuse and historic preservation deals. Tracks basis exclusions, applicable percentages, and the master-tenant structure most lenders require.
Compares standalone LIHTC vs OZ-twinned LIHTC deal economics. Capital gains tax deferral modeling, basis step-up at year 10, OBBBA Rural OZ enhancements. Identifies when twinning helps and when it adds complexity without value.
For mixed-use developments combining affordable housing with commercial or community facility components. Walks through the leveraged loan structure and CDE-investor relationships.
AHP application support model. Per-unit subsidy calculation, retention period tracking, and feasibility outputs structured to match common FHLB district scoring criteria.
Models for the back end of the LIHTC compliance period — when the initial 15-year compliance ends and ownership decisions get expensive.
Compares the three main Year 15 paths: investor LP buy-out via right of first refusal (ROFR), qualified contract sale to the state, or refinance-and-hold with new tax credits. Shows GP cash-on-cash and investor IRR for each path.
For LIHTC properties approaching the end of the extended-use period. Checks resyndication eligibility under current QAP rules, prior-credit lookback rules, and minimum-rehab thresholds for new 9% or 4% allocation.
Small, single-purpose utilities. Useful when you need a number fast, not a full pro forma.
Quick check on whether your site qualifies for the 30% DDA/QCT basis boost. Cross-references HUD's most recent designations.
Multiplies your state's population by the current per-capita amount ($3.416 for 2026) to estimate your state's annual 9% LIHTC ceiling, plus the small-state minimum check ($3,953,600 for 2026).
Tracks the 10% expenditure test for carryover allocations. Required for any 9% deal where the building isn't placed in service in the year of allocation. Helps avoid the most common reason for credit loss.
Move the equity-pricing slider from $0.75 to $1.05 per credit dollar and see how your total tax credit equity changes. Useful in early feasibility before you have actual pricing letters.
Pro members get full access to the model library, plus quarterly updates as regulations change. New models requested by Pro members get prioritized.
See Pro pricingImportant: All models are educational tools. They embed assumptions about regulatory rules, market conditions, equity pricing, and operating economics that may not match your specific deal. Models are not legal, tax, financial, or investment advice. Models are not legal advice, tax advice, financial advice, or investment advice. Before relying on any model output to structure or close a transaction, validate the underlying assumptions and consult qualified counsel, your tax advisor, your CPA, and your equity investor. See the full Disclaimer and Terms of Service.