Neighborhood Finance Corporation
0% Construction Loan Program
Helping Small-Scale Developers Build More Affordable Homes
NFC's 0% Construction Loan Program helps experienced builders create quality homes that expand homeownership opportunities in neighborhoods where additional housing is needed most.
This program is designed for new construction homes intended for owner occupancy and is not available for rental property development.
Program Highlights
0% interest construction financing
12-month construction term
Loan balance due upon sale and closing
Homes must have a sales price below $300,000
Minimum two years of residential building experience required
Preference for homes with at least three bedrooms and two bathrooms
Available in designated ERP Census Tracts in Des Moines and Cedar Rapids
Program Information
Please see attached for more details in each area.
All properties must be in ERP Census Tract. Please note this is different from NFC's Current Lending Area. See eligible tracts listed below:
- Cedar Rapids: 8, 10.03, 12, 13, 14, 18, 22, 23, 24, 25, 26, 27, 29, 30.02
- Des Moines: 2.02, 3, 6, 8.03, 11, 12, 15, 17, 19, 21, 26, 45.01, 47.01, 48, 49, 50, 52, 53
View Lending Map
Let's Talk About Your Project
Whether you're building new homes, building or preserving affordable housing, or leading a neighborhood redevelopment effort, NFC can help identify financing solutions designed around your project's goals.
