AppraiseHow Appraisal-Ready Is Your Affordable Housing Project?
HUD-compliant valuations for LIHTC, RAD, and bond deals — delivered before your syndication deadline.
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LIHTC Appraisals Delivered
Across 34 states and territories
Average Turnaround
From engagement to signed report
HFA Acceptance Rate
No report returned without approval
Every deal structure, documented and defensible.
No deal is unfamiliar. From QCT new construction to layered bond financing, our appraisals have cleared every compliance hurdle in the affordable housing stack.
New Construction · QCT
72-Unit Family Development in a Qualified Census Tract
The Challenge
The developer needed a restricted-rent appraisal to satisfy the Ohio Housing Finance Agency's allocation application — with HFA scoring closing in 18 days. Comparable rent studies for the QCT were thin, and the lender's underwriter was questioning the achievable market rents for the 60% AMI units.
The Resolution
Our team completed a full LIHTC restricted-rent and as-complete market-value appraisal in 14 days. We documented 11 comparable restricted-rent properties within the sub-market, reconciled the income approach using OHFA's published rent limits, and provided a signed HUD-1 certification ready for the lender's file.
"Delivered before HFA scoring deadline"
Hard Outputs
$9.4M
Final Valuation
14 Days
Turnaround
11 Rents
Comparables
Regulatory Standard
OHFA Allocation Compliant
Preservation Rehab · RAD
Expiring Section 8 HAP Contract Converting to Project-Based Vouchers
The Challenge
A nonprofit CDC managing 104 aging Section 8 units was converting to RAD under HUD's Rental Assistance Demonstration. The conversion required an as-is and as-rehabilitated appraisal that satisfied both HUD MAP requirements and MDHA's lender underwriting — simultaneously. The existing HAP contract expiration added a hard deadline.
The Resolution
We delivered a dual-purpose appraisal addressing HUD MAP guidelines and state agency requirements in a single report. The as-is valuation documented deferred maintenance adjustments; the as-rehabilitated section modeled the 35-year HAP contract as a rent-stabilizing income component. Closing occurred on schedule.
"Closed on RAD conversion schedule"
Hard Outputs
$12.1M
Final Valuation
21 Days
Turnaround
104
Units
Regulatory Standard
HUD MAP + MDHA Compliant
Mixed-Income · 4%/9% Hybrid
Mixed-Income High-Rise with Layered Tax Credit Financing
The Challenge
A developer combining 4% tax-exempt bonds with a 9% LIHTC award needed a single appraisal covering three distinct unit tiers — market-rate, 60% AMI, and 30% AMI — each with different rent achievability profiles. The Colorado Housing Finance Authority required the report to address both credit allocations under a single scope of work, a format most appraisers decline.
The Resolution
We structured the appraisal as a three-tier income analysis with separate comparable rent grids for each affordability level. The market-rate tier used a traditional cap-rate income approach; the restricted tiers were reconciled against CHFA's published rent and income limits. The final report was accepted by CHFA, the bond trustee, and the construction lender without a single revision request.
"Zero revision requests"
Hard Outputs
$38.7M
Final Valuation
28 Days
Turnaround
3 AMI
Unit Tiers
Regulatory Standard
CHFA + Bond Trustee + Lender Accepted
Five questions. One defensible answer.
Tell us about your deal — project type, unit count, financing structure, timeline phase, and urgency. We'll generate a customized readiness score and a one-page scope PDF outlining likely appraisal requirements, estimated turnaround, and common compliance flags for your deal type.
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5-Step Assessment
Project Type
New construction, rehab, or preservation
Unit Count
Affordable unit total
Financing Structure
9% LIHTC, 4% bond, HUD, or conventional
Development Phase
Pre-application through closing
Timeline Urgency
Standard to urgent expedite
Receive a customized PDF scope outline + compliance flag summary delivered to your inbox
Every assumption documented. Every standard met.
Our methodology is built on the regulatory frameworks that govern affordable housing finance. No shortcuts. No exceptions.
Uniform Standards of Professional Appraisal Practice
Appraisal Foundation
All reports comply with USPAP standards for competency, scope of work, and certification requirements.
Multifamily Accelerated Processing Guide
U.S. Department of Housing and Urban Development
Certified reviewers for 221(d)(4), 223(f), and RAD appraisal requirements under MAP guidance.
Low-Income Housing Tax Credit Guidance
IRS Revenue Procedure 94-57
Restricted-rent income approach methodology per IRS guidance and state HFA requirements.
Financial Institutions Reform, Recovery & Enforcement Act
Federal Reserve / OCC
All appraisals meet FIRREA thresholds for federally regulated lending institutions.
MAI Designated
Appraisal Institute
Certified General
State Licensed (34 States)
HUD-Approved
FHA Roster Appraiser
LIHTC Specialist
Affordable Housing Expertise
The appraisal report was the cleanest we've submitted to VHDA in a decade. Not a single condition from the state reviewer.
Renata Osei-Mensah
Director of Development · Piedmont CDC
Methodology Documentation
Every appraisal includes a complete assumptions addendum — income limits source, comparable selection rationale, and adjustments grid — ready for lender review.
Ready to start your appraisal engagement?
Typical engagements begin within 48 hours of signed scope agreement.