Credit Officer - Real Estate Underwriting

Citi • Houston, TX

1d • $114,720 - $172,080 • Hybrid

About The Position

As a Credit Officer in Real Estate Underwriting, you will underwrite construction and permanent loans financing new construction, rehabilitation, and preservation of affordable and workforce rental housing across the West Coast. You will join Citi Community Capital, the community lending and investing arm of Citi's Global Spread Products Group, and help shape sound credit decisions on complex transactions involving taxable and tax-exempt debt, Low Income Housing Tax Credit equity, and public and private subsidies.

This role involves analyzing affordable multifamily real estate credit requests, assessing project feasibility and risk, preparing detailed credit recommendations, conducting due diligence, and applying credit risk policies. The position is based in Houston, Texas, with a hybrid schedule of three days in the office and two days working remotely. The stated salary range is $114,720 to $172,080 per year.

Requirements

• Bachelor's degree required.
• 5–8 years of real estate loan underwriting experience; affordable housing experience is preferred.
• Ability to model construction budgets and operating proformas and assess overall project feasibility.
• Strong written and verbal communication skills and sharp analytical thinking.
• Proven ability to manage multiple transactions against tight deadlines.
• High attention to detail and ownership of outcomes from analysis through resolution.
• Ability to travel on short notice.

Nice To Haves

• Master's degree.
• Knowledge of bond and Low Income Housing Tax Credit transaction structures.
• Comfort adopting new analytical tools and technology quickly.
• Experience balancing client-facing composure with internal stakeholder management.

Responsibilities

• Underwrite affordable multifamily real estate credit requests for new and existing clients, taking ownership of sound credit decisions.
• Analyze real estate projects for feasibility by building construction budgets and operating proformas.
• Review appraisals and third-party reports to validate project assumptions and property value.
• Evaluate market conditions and sponsor strength to identify and mitigate transaction risks.
• Write detailed transaction summaries that interpret financing needs, outline risk factors, and present a final credit recommendation.
• Conduct industry and regional research to support due diligence on each transaction.
• Apply credit risk policy guidelines and transparently escalate control issues to protect Citi and its clients.
• Identify process improvements that reduce costs and improve turnaround time, working with management to prioritize and implement changes.

Benefits

• Medical, dental, and vision coverage.
• 401(k).
• Life, accident, and disability insurance.
• Wellness programs.
• Paid time off, including vacation, sick leave, and paid holidays.
• Global learning and development resources.
• Programs supporting financial wellbeing, family needs, and work-life balance.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior