Multifamily Intern

Position Title: Multifamily Intern

Department: Multifamily

Who we are: The Illinois Housing Development Authority (IHDA) is one of the Nation’s preeminent Housing Finance Agencies and one of the State’s ten largest financial institutions. Our mission is to finance the creation and preservation of affordable housing across the state. IHDA oversees more than 20 federal and state programs on behalf of the state of Illinois and serves as one of the state’s primary resources for housing policy and program administration. For over 50 years, IHDA has led the state in financing and supporting affordable housing.

At IHDA we strive to create and maintain a work environment that promotes diversity, recognition and inclusion. IHDA is committed to hiring and investing in individuals of diverse talents and backgrounds to ensure a range of perspectives and experiences inform and guide our work of financing affordable housing in the state of Illinois.

Summary: The Authority is seeking an undergraduate or graduate intern to be a short-term member of the Multifamily Financing team. The team is responsible for evaluating (e.g., scoring, structuring, underwriting) multifamily proposals requesting loans and grants from the Authority. This is a unique opportunity to gain hands-on experience in real estate finance and affordable housing development while working on projects that directly impact communities across Illinois.

Responsibilities:

• Excel-driven analysis: Build and refine financial models, including cash flow projections, to evaluate multifamily housing developments.
• Capstone project: Over the course of the summer, develop a real estate development proposal, complete with financial feasibility analysis and community impact assessment. Present your final recommendations to IHDA leadership.
• Workflow innovation: Assist with implementing new software to streamline departmental processes, including data entry, cleanup, and organization.
• Document standardization: Support updates to loan origination materials and program documents related to IHDA’s first mortgage lending and tax-exempt bond programs.
• Collaborative learning: Work closely with the Business Development & Loan Originations team, gaining exposure to underwriting, deal structuring, and affordable housing finance.
• Performs other duties assigned.
  
  
  

Experience:

• Current college student (junior/senior preferred) studying Finance, Economics, Real Estate, Urban Planning, or related fields.
• Strong proficiency in Microsoft Excel; experience with cash flow modeling is a major plus.
• Analytical mindset with interest in housing finance and community development.
• Excellent communication and presentation skills.
• Initiative, curiosity, and eagerness to learn in a mission-driven environment.
  
  
  

Physical Requirements

Alternating between sitting, standing, and walking. Ascending and descending stairs. Crouching and stooping. Pushing and pulling. Reaching overhead or below. Repetitive tasks movements (filing, keyboarding, copying). Lifting, carrying, and moving objects of up to 10 -15 pounds.

IHDA’s Summer Internship Program Highlights:

• Paid Internship
• Open to college students (must be an actively enrolled undergraduate or graduate student at the time of applying)
• Full-time hybrid internship program that runs from June – August (typically 10 weeks)
• You will receive on-the-job training from industry experts
• Participate in workshops to gain insight on key departments at the Authority
• Participate in IHDA’s Mentorship Program
• Attend outings to connect with fellow interns
  
  
  

EOE