Stretch your buyer’s dollar. Give your seller a little extra in their pocket!
No PMI required. Little money down. Forgivable loans.
It’s the NFC Advantage!
As home buyers search for value in today’s real estate market, what better way to stretch the buyer’s dollar than with a $10,000 forgivable loan for repairs and improvements, plus up to an additional $2,500 for down payment and closing costs?
(Please note, there are several factors to be considered in determining the possibility of receiving the closing cost subsidy and if so, the amount of it. Therefore, the full application and supporting documentation must be reviewed at NFC for that determination to be made.)
NFC offers loans for qualified borrowers with 3% - 5% down and no PMI; recommending NFC to your clients may be just the incentive they need to purchase a home!
Rather than having your seller pay for repairs or improvements before they list their property with you, suggest listing it as an NFC eligible property.
For Des Moines properties, call us at 515-246-0010 to confirm the property is in an NFC lending area and still has funds available.
For Cedar Rapids properties, call us at 319-777-7127 to confirm the property is in an NFC lending area and still has funds available.
As home sellers seek to get top dollar for their property, the $10,000 in forgivable funds can be used to address repairs once the home has sold and the purchase loan has closed.
The rehabilitation funds can also be used to add things like garages, paved driveways and fences.
These additional funding options might just be the one thing that is missing for the buyer.
PLEASE NOTE: The homebuyer must receive their mortgage loan to purchase a home through NFC to be eligible for the up to $10,000 in forgivable funds. NFC's maximum borrowed amount, not including the forgivable loan, is $225,000. Visit our Purchase Program for complete details. If a mortgage is obtained from another lender, in most cases, the homeowner must wait 12 months before applying for a home improvement loan. A home improvement loan is eligible for forgivable funds; however, it is a percentage of the project, either 25%, 33% or 50% up to $10,000.