Neighborhood Finance Corporation
Welcome to the Neighborhood Finance Corporation (NFC) website. NFC is a not-for-profit mortgage bank that makes mortgage loans to qualified applicants NFC hours of operation are 8:30 am - 5:00 pm, Monday through Friday, except for standard holidays. We will be closed the day after Thanksgiving as well as closing at noon on Christmas Eve. The office will be closed from Thursday, December 25, 2014 through Thursday, January 1, 2015.
NFC will accept loan applications from the Beaverdale Neighborhood through December 31, 2014. Any applications received after that date will not be eligible to be reviewed. You can deliver your application before noon on December 24, 2014 or mail it to NFC with a post mark on or before December 31, 2014. Please click here to learn more.
NFC provides unique lending programs and other services to facilitate neighborhood revitalization in Polk County, Iowa through partnerships with residents, governments, community based organizations and the business community.
- Purchase Loans (buying a home)
- Refinance Loans
- Home Improvement Loans
- NFC Properties LLC
What is the NFC Advantage?
- Forgivable loans for home improvements with every mortgage loan.
- The subsidy (forgivable loan) of up to $10,000 is used to help pay for property repairs and improvements.
- Eligible home buyers also receive a subsidy (forgivable) up to $2,500 to assist with down payment and/or closing costs on a purchase transaction. Please note, there are several factors to consider when determining if the borrower can receive the closing cost subsidy and if so, how much. Final determination cannot be made until a completed application and supporting documentation have been reviewed by NFC.
- Because these subsidies are paired with your NFC loan, you can do more than if you obtained a traditional loan elsewhere. Your loan works harder for you at NFC.
This program is made possible through partnerships with the City of Des Moines, Polk County, Des Moines Area Banks and Neighborhood Associations. Together we are improving Des Moines neighborhoods.
Property repairs and improvements can NOT be started or completed prior to closing on the NFC loan. NFC will NOT reimburse for work completed prior to the NFC loan closing.
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