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. NFC is closed December 25th - January 1 each year.
Recently, a contractor mailed a postcard to neighborhood residents, noting they are a Preferred Contractor of NFC. NFC does not have a Preferred Contractor list. Please call us for additional information. Thank you.
Attention Realtors: If you have a listing in the Merle Hay neighborhood, please visit the Realtor page of this website for an important update.
The Merle Hay Neighborhood exited the NFC lending area December 31, 2012. Applications for a purchase, refinance or home improvement loan needed to be received at NFC no later than Monday, December 24, 2012 at 12 noon, or mailed to NFC with a postmark on or before December 31, 2012. Applications for Merle Hay property financing hand delivered to NFC on or after January 2, 2013 will not be accepted.
The Beaverdale Neighborhood, with boundaries as defined on NFC's website map, entered the NFC lending area January 1, 2013. NFC started accepting applications for a purchase, refinance or home improvement loan on January 2, 2013. Applications for Beaverdale financing mailed to NFC with a postmark before January 2, 2013 will not be accepted.
NFC Mission:
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.
NFC Offers:
- Purchase Loans (buying a home)
- Refinance Loans
- Home Improvement Loans
- NFC Properties LLC
- Spanish interpretation available
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 completed prior to closing on the NFC loan. NFC will NOT reimburse for work completed prior to the NFC loan closing.
