11 Best underwriter jobs in Denver, CO (Hiring Now!) (2023)

Department Information

This term-limited position is funded five (5) years past the date of hire. The continuation of the position past this date depends on the availability of grant funds

This posting may fill other similar positions in the same class including some permanent regular and term-limited positions.

About the Colorado Department of Local Affairs

The Department of Local Affairs (DOLA) serves as the primary interface between the State and local communities. The Department provides financial support to local communities and professional and technical services (including training and technical assistance) to community leaders in the areas of governance, housing, and property tax administration. While all state governments provide such services through various Departmental structures, Colorado’s approach is unique in that these local community services are gathered into one Department of “Local Affairs,” which has a central focus on strengthening Colorado communities and enhancing livability.


The Department of Local Affairs is responsible for strengthening Colorado's local communities through accessible, affordable, and secure housing; implementing property tax law; capacity building, strategic training, research, technical assistance, and funding to localities.


Our mission is to help strengthen Colorado’s communities

Why work for the Colorado Department of Local Affairs?

The work we do matters greatly. It matters to us and it matters to the citizens of the great state of Colorado. We love our community and are passionate about supporting our community. We value the diversity that Colorado offers. If your goal is to build a career that makes a difference in communities across the State, consider joining the dedicated people of the Department of Local Affairs.

In addition, we offer a great location and great benefits, which include:

  • Medical and dental plans

  • Strong, secure, yet flexible retirement plans including PERA Defined Benefit Plan or PERA Defined Contribution Plan (Download PDF reader) plus pre-tax and ROTH 401K, and 457 plans

  • Employee wellness program

  • Paid life insurance

  • Short and long-term disability coverage
  • 11 paid holidays per year plus vacation and sick leave
  • RTD EcoPass to all eligible State Employees
  • Flexible work schedule options and remote-work options
  • Some positions may qualify for the Public Service Loan Forgiveness Program. For more information go to https://dhr.colorado.gov/dhr-resources/student-loan-forgiveness-programs
  • Training opportunities
  • Variety of Free discounts on services and products available through the State of Colorado's Work-Life Employment Discount Program.

Description of Job

Division of Housing - Office of Housing Finance and Stability

The Office of Housing Finance and Stability exists to work with public and private entities, nonprofit organizations and public housing authorities to create and rehabilitate housing for low and moderate income persons; to provide shelter and supportive services to the homeless; to provide safe, sanitary, decent housing for low and moderate income persons and families throughout the state through allocation of funds from federal and state grant programs; and, delivery of technical assistance and training to applicants and grantees.

Description of Job
The Housing Underwriter position exists to carry out the housing development mission described above by reviewing, analyzing, verifying and negotiating applications for financial assistance from private housing developers, local housing authorities, and/or local development organizations. This position gives the Executive Director of DOLA, the Division of Housing and State Housing Board a basis for determining the feasibility of affordable housing investments.

The Housing Underwriter duties include, but are not limited to;

Underwriting, technical assistance and drafting reports

  • Analyzing applications for financial assistance by reviewing for completeness, accuracy, market demand, financial commitments, management capacity, regulatory compliance, financial feasibility, and development cost.
  • This analysis includes cost estimates, project revenue, operating cost, ability to repay debt, success or need to seek other investors or lenders to the project.
  • Preparing written Pro/Con project summary and funding analysis for presentation to staff and State Housing Board.
  • Negotiating any revisions to the proposal with Division staff and the applicant.
  • Writing Project Summaries which are used to draft contracts for funding awards
  • Establishing the performance benchmarks that are included in contracts for each new applicant.
  • Assessing grantees performance based on previously DOH funded housing projects or other housing projects developed in Colorado or elsewhere in the United States.


  • Supports the overall development training program for the Division of Housing by developing curriculum, and by providing training and technical assistance to DOH staff, private developers, local housing organization staff, and local government officials.
  • Topics include development of affordable housing, use of federal financial resources, market assessments, development cost, and housing operating expenses.
  • Teaching Division sponsored workshops, writing instructional manuals, and marketing workshops.

Research and Agency Coordination

  • Research the real estate underwriting guidelines, requirements, methods and techniques used by other public agencies, private developers, public and private funders or real estate professionals to provide financing for affordable housing projects and programs.

Minimum Qualifications, Substitutions, Conditions of Employment & Appeal Rights

Minimum Qualifications and Substitutions

Bachelor’s degree from an accredited institution.
Two (2) years of professional experience in single family mortgage lending or underwriting, multi-family mortgage lending or underwriting, real estate development, real estate finance or affordable housing finance.

This experience must be demonstrated in your application to be considered for employment.


A combination of professional work experience or specialized knowledge in the area of single family mortgage lending or underwriting, multi-family mortgage lending or underwriting, real estate development, real estate finance, or affordable housing finance. This combination of work and experience should have provided the same kind, amount, and level of knowledge acquired in the required education, may be substituted on a year-for-year basis for the bachelor's degree.
A master's degree in finance, business, law, urban planning, public policy, or a closely related field, or a JD, will substitute for the required experience on a year-for-year basis.

Preferred Qualifications

The preferred candidate will possess the following qualifications:

  • Previous or current experience in multi-family mortgage lending, real estate development, affordable housing finance;

  • At least one year of experience in housing finance and development;

  • Knowledge and experience with federal and state affordable housing programs;

  • Knowledge and experience in affordable housing financial packaging;

  • Knowledge and experience with financial underwriting;

  • Experience in finance and budget or budget tracking.

Highly Desired Skills and Competencies

  • Excellent verbal and written communications skills

  • Experience working with Google Sheets
  • Experience working with Microsoft Word and Excel
  • Problem-solving ability
  • Strong attention to detail
  • Strong interpersonal skills
  • Ability to work effectively in both independent and team situations
  • Ability to work under tight deadlines and be adaptable to changing assignments and priorities
  • Ability to effectively collaborate with internal and external customers

Conditions of Employment:

  • You MUST be a Colorado resident to apply for this position.

  • A pre-employment background check will be conducted as part of the selection process.

  • Candidate must sign a waiver of retention rights associated with a term-limited position.

Application Checklist:

Only complete applications submitted by the closing date for this announcement will be given consideration. Failure to submit properly completed documents by the closing date of this announcement will result in your application being rejected.

Applicants may submit a resume, cover letter/letter of interest detailing how their experience and background address the stated minimum and preferred qualifications/competencies of the job and attach to the online application. Applications left blank or marked “See Resume” will not be accepted.

The application may include the following documents:

  • A cover letter (attach to your online application).

  • A resume (attach to your online application).

Current and former employees (transfers, voluntary demotions, and reinstatements) if applying are required to participate in the comparative analysis process.

Comparative Analysis:

Colorado Revised Statutes require that state employees be hired and promoted through a comparative analysis. The comparative analysis for this position will include a structured review of your application materials and responses to any supplemental questions.

Supplemental Information

The State of Colorado believes that equity, diversity, and inclusion drive our success, and we encourage candidates from all identities, backgrounds, and abilities to apply. The State of Colorado is an equal opportunity employer committed to building inclusive, innovative work environments with employees who reflect our communities and enthusiastically serve them. Therefore, in all aspects of the employment process, we provide opportunities to all qualified applicants without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity or expression, pregnancy, medical condition related to pregnancy, creed, ancestry, national origin, marital status, genetic information, or military status (with preference given to military veterans), or any other protected status in accordance with applicable law.

DOLA is committed to the full inclusion of all qualified individuals. As part of this commitment, our agency will assist individuals who have a disability with any reasonable accommodation requests related to employment, including completing the application process, interviewing, completing any pre-employment testing, participating in the employee selection process, and/or to perform essential job functions where the requested accommodation does not impose an undue hardship. If you have a disability and require a reasonable accommodation to ensure you have a positive experience applying or interviewing for this position, please direct your inquiries to Joel Ferguson, DOLA ADA Coordinator at

Email Address:

All correspondence regarding your status in the selection/examination process will be conducted via email. Include a working email address on your application; one that is checked often as time sensitive correspondence such as exam information or notification will take place via email. Please set up your e-mail to accept messages from "state.co.us" and "info@governmentjobs.com" addresses. It is your responsibility to ensure that your email will accept these notices and/or review your junk mail and spam filtered email.

Appeal Rights:
If you receive notice that you have been eliminated from consideration for the position, you may protest the action by filing an appeal with the State Personnel Board/State Personnel Director within 10 days from the date you receive notice of the elimination.

Also, if you wish to challenge the selection and comparative analysis process, you may file an appeal with the State Personnel Board/State Personnel Director within 10 days from the receipt of notice or knowledge of the action you are challenging.

Refer to Chapters 4 and 8 of the State Personnel Board Rules and Personnel Director's Administrative Procedures, 4 CCR 801, for more information about the appeals process. The State Personnel Board Rules and Personnel Director's Administrative Procedures are available at www.colorado.gov/spb.

A standard appeal form is available at www.colorado.gov/spb. If you appeal, your appeal must be submitted in writing on the official appeal form, signed by you or your representative, and received at the following address within 10 days of your receipt of notice or knowledge of the action: Colorado State Personnel Board/State Personnel Director, Attn: Appeals Processing, 1525 Sherman Street, 4th Floor, Denver, CO 80203. Fax: 303-866-5038. Phone: 303-866-3300. The ten-day deadline and these appeal procedures also apply to all charges of discrimination


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