Affordable Housing & CRE Underwriting

Institutional-Grade Feasibility Studies
for Developers Who Close

LIHTC & Affordable Housing Expertise
Dual-Scenario NOI Analysis
Capital-Ready Loan Packages
$380M+
Total Deal Volume Underwritten
60+
Feasibility Studies Delivered
4
Creative Structures Per Analysis
72hr
Avg. Turnaround on Studies
The Problem We Solve

Most deals die in underwriting — not at closing

Developers lose months on deals that never pencil because underwriting is slow, surface-level, or built on assumptions that don't survive lender scrutiny.

Surface-Level Pro Formas

Generic spreadsheets that miss downside scenarios, leaving developers exposed when lenders push back on assumptions.

Weeks of Back-and-Forth

Traditional underwriting shops take 2–4 weeks, burning through your LOI timelines and costing you deals.

No Creative Capital Structures

Most analyses model one path forward. If it doesn't work, you're back to square one with no alternatives.

Dual-Scenario NOI Analysis

Every study includes base case and downside projections, so you walk into lender meetings with stress-tested numbers.

72-Hour Turnaround

Institutional-grade feasibility studies delivered fast enough to keep your deal pipeline moving.

Four Creative Structures Included

Seller note, earnout, JV/LP, and master lease structures — modeled and ready for negotiation from day one.

What You Get

Every deliverable engineered
to move capital

Our feasibility studies aren't reports that gather dust — they're the documents your lenders, syndicators, and equity partners need to say yes.

Comprehensive Feasibility Study

Full market analysis, operating projections, capital stack modeling, and risk assessment — packaged for institutional review.

→ Lender-ready documentation from day one

LIHTC Underwriting

Specialized modeling for 4% and 9% Low-Income Housing Tax Credit deals, including syndicator-ready projections and compliance frameworks.

→ Attract tax credit equity with confidence

Counter-Offer Tier System

Three negotiation tiers with pricing rationale, giving you structured leverage to close at the right basis.

→ Never overpay or lose a deal on price

Rapid 72-Hour Delivery

Our systematized workflow delivers institutional-grade analysis at startup speed — no more losing deals to slow underwriting.

→ Stay ahead of competing offers

Four Creative Structures

Seller financing, earnout, JV/LP equity, and master lease options — each modeled with returns analysis so you have alternatives ready.

→ More paths to yes on every deal

Loan Package Documentation

Complete lender-facing packages with executive summaries, market comps, operating assumptions, and sensitivity analysis.

→ Walk into any lender meeting prepared
Inside the Analysis

See what lenders see — before they do

Every Mosaic feasibility study stress-tests your deal across multiple scenarios, so you know exactly where the risks are and how to structure around them.

  • Base case and downside NOI with explicit assumptions
  • DSCR sensitivity across rate environments
  • Exit cap rate analysis with IRR projections
  • Market comp overlays validated against CoStar data
Sample Analysis — 120-Unit Affordable Housing
Property TypeMultifamily — LIHTC 4%
Total Units120
Acquisition Basis$14.2M
All-In Cost / Unit$118,333
DSCR (Base)1.38x
IRR — Base Case
16.2%
IRR — Downside
11.8%
What Developers Say

Built for developers who move fast

The dual-scenario analysis saved us from a deal that looked great on the surface but fell apart under stress testing. That's the kind of underwriting you can't put a price on.
MR
Managing Director
Mid-Atlantic Development Firm
We went from LOI to lender submission in under a week. Mosaic's turnaround is unreal — and the quality is what you'd expect from a top-tier advisory shop.
KD
VP of Acquisitions
Affordable Housing Developer
The four creative structures gave us options we hadn't considered. We closed using a seller note structure that Mosaic modeled — it was the only way the deal worked.
JL
Principal
Southeast CRE Investment Group
Asset classes we underwrite
LIHTC / Affordable Multifamily Industrial Hospitality Gov-Anchored Mixed-Use

Submit your deal — we'll tell you if it pencils

Send us the basics. Within 24 hours, we'll confirm scope, timeline, and pricing. No obligation, no runaround.

We respond within 24 hours. No spam, no sales pitch — just scope and pricing.