Purchase Program

No other home loan or mortgage product offers the types of loans offered by NFC -- that is the NFC Advantage.  If you’re looking to purchase a home, than NFC has a product for you.

All NFC loans must be in an NFC lending area.

  • A forgivable loan up to $10,000 for home improvements is available. NFC financing must be used to purchase your home to receive up to $10,000 for home improvements.  Homebuyers may also be able to borrow funds for renovations that exceed $10,000.
  • Maximum 1st mortgage loan amount $300,000 (up to 80% loan to value).  All loans over $180,000 require Loan Committee approval.
  • 2nd mortgage loan amount up to 15% loan to value at 2% interest for 10 years
  • Possible closing cost assistance of up to $2,000 or $2,500 available in most lending areas

(Determination of whether or not closing cost assistance is received and if so, the amount, cannot be made until after a complete application and supporting documentation has been reviewed by NFC.)

  • The forgivable renovation and closing cost funds are five year forgivable mortgages with 20% forgiven each year of owner-occupancy.  You must occupy the home for five years to receive the full forgiveness.  
  • 5% down payment; 3% must be the borrower's own funds
  • Examples of eligible renovation items can be found on the NFC Loan Programs page
  • No private mortgage insurance
  • Competitive Fixed Interest Rate
  • NFC offers up to a $20,000 forgivable loan for homebuyers financing their loan through NFC and downsizing a multi-family property to a single-family property.  The subsidy is a loan forgiven over 10 years at 10% a year.


Our program is intended to improve neighborhoods and increase owner occupied home ownership; therefore, you must occupy the property.

Please review the complete details of the NFC Advantage Loan for more information or to complete an application.