The Hong–Ou–Mandel (HOM) interference is one of the most intriguing quantum optical phenomena and crucial in performing quantum optical communication and computation tasks. Lately, twin beam emitters such as those relying on the process of parametric down-conversion (PDC) have become confident sources of heralded single photons. However, if the pump power is high enough, the pairs produced via PDC—often called signal and idler—incorporate multiphoton contributions that usually distort the investigated quantum features. Here, we derive the temporal characteristics of the HOM interference between heralded states from two independent narrowband PDC sources. Apart from the PDC multiphoton content, our treatment also takes into account effects arriving from an unbalanced beam splitter ratio and optical losses. We perform a simulation in the telecommunication wavelength range and provide a useful tool for finding the optimal choice for PDC process parameters. Our results offer insight in the properties of narrowband PDC sources and turn useful when driving quantum optical applications with them.