Project Reinvest

Neighborhood Finance Corporation (NFC) has committed all of the Project Reinvest Polk County down payment funds. Please check back for updates.

How The Program Works

  • A homebuyer may apply to receive a $10,500 deferred loan at 0.00% interest rate for down payment on a home in Polk County, Iowa. The Annual Percentage Rate (APR) is 0.08% if the $250 commitment fee is paid by the borrower.
  • The deferred loan does not have to be repaid until the home is sold or, in some instances, when the homeowner seeks to refinance the home.
  • Homebuyers are required to complete eight hours of homebuyer education before receiving the loan.
  • NFC or Project Reinvest Polk County approved lenders will provide the first mortgage fixed-rate loan and NFC will provide the $10,500 down payment loan. 


Project Reinvest Polk County Borrower Requirements

  • Household annual income at or below 100% of Area Median Income.  
  • Homebuyers are required to complete approved homebuyer education before receiving a loan.
  • Property must be an owner-occupied principal residence.
  • May not own another property at time of closing. Current home must be sold before closing on the new home.
  • Must obtain first mortgage financing through a Project Reinvest Polk County approved lender.


Click here to register for Homebuyer Education.  You will need to enter your personal registration code provided by your lender.

Approved Lenders

In addition to Neighborhood Finance Corporation (NFC), the following local banks are Project Reinvest Polk County approved lenders. You may contact NFC or any of the following lenders to obtain a purchase loan. The lender of your choosing will work directly with NFC to provide the Project Reinvest down payment assistance.

Bankers Trust Co.
NMLS #440379

First American Bank
NMLS #469850

Greater Des Moines Habitat For Humanity
515.471.8686 x110
NMLS #1483

Great Southern Bank
NMLS #423054

Iowa State Bank
NMLS #671365

Neighborhood Finance Corporation
NMLS #8943

Two Rivers Bank & Trust
NMLS #411048

US Bank
NMLS #402761

Project Reinvest Polk County is administered locally through Neighborhood Finance Corporation (NFC), a not-for-profit mortgage lender providing unique home loans and lending programs to facilitate neighborhood revitalization in Polk County, Iowa.