About Neighborhood Finance Corporation
Building Stronger Neighborhoods Through Homeownership
For more than three decades, Neighborhood Finance Corporation (NFC) has helped individuals and families achieve homeownership, improve their homes, and invest in the neighborhoods they love. As a nonprofit mortgage lender serving Polk and Linn counties, we believe stable housing creates stronger families, healthier communities, and lasting economic opportunity.
Unlike traditional lenders, our mission goes beyond financing a loan. We combine affordable lending solutions, forgivable loan programs, home improvement financing, and trusted one-on-one guidance to help more Iowans overcome barriers to buying, improving, and staying in their homes.
Whether you're purchasing your first home, renovating the one you already own, improving energy efficiency, or a developer creating new housing opportunities, NFC is committed to making the process easier to understand and more accessible for the people and communities we serve.
Our Mission
More Than a Mortgage Lender
Housing changes lives, but navigating the financing process can feel overwhelming.
That's why NFC focuses on helping people move forward with confidence through:
- Home purchase financing
- Down payment assistance
- Forgivable loan programs
- Home improvement loans
- Energy-efficient home financing
- Neighborhood revitalization lending
- Commercial lending that supports housing development
- Educational resources and personalized guidance
Every program is designed to remove barriers, expand opportunity, and strengthen neighborhoods for generations to come.
What We Believe
Community-Focused
We invest where it matters most—helping neighborhoods grow stronger through stable homeownership, housing investment, and local partnerships.
Empowerment
Knowledge creates confidence. We provide the education, tools, and guidance people need to make informed financial decisions.
Integrity
We believe in honest communication, transparent lending practices, and doing what's right for every borrower and partner.
Expertise
Our experienced lending professionals understand the unique challenges facing homebuyers, homeowners, and neighborhoods throughout Iowa.
Understanding
Every family's journey is different. We meet people where they are and provide personalized support every step of the way.Why NFC Is Different
NFC regularly listens to homeowners, lending partners and community stakeholders to ensure its programs remain accessible, relevant and responsive to community needs. That's why we're committed to making home financing simpler, clearer, and easier to navigate.
When you work with NFC, you'll find:
- Real people ready to answer your questions
- Clear explanations without industry jargon
- Flexible lending solutions designed around your goals
- Local expertise rooted in Iowa communities
- A nonprofit mission focused on long-term neighborhood success—not profits
Our goal isn't simply to close loans.
Our goal is to help people build stability, wealth, and opportunity through homeownership.
Strengthening Iowa Communities Together
Neighborhood revitalization doesn't happen alone.
NFC collaborates with cities, financial institutions, nonprofit organizations, neighborhood groups, housing advocates, developers, contractors, and community leaders to expand access to safe, affordable housing throughout Iowa.
Together, we're helping:
- Increase homeownership
- Preserve existing housing
- Revitalize neighborhoods
- Improve energy efficiency
- Expand housing opportunities
- Create stronger local economies
Every loan represents more than a property—it represents another family investing in the future of their community.
Leadership & Governance
Board Meetings
The Neighborhood Finance Corporation Board of Directors meets at 12:00 p.m. on the fourth Tuesday of each month, except December.
The Cedar Rapids Advisory Committee meets quarterly on the 3rd Monday or March, June, September and December..
For meeting information, please contact:
Stephanie Murphy
Executive Director
515-273-1372
Linda Westergaard
Margaret Wright
Cole McClelland
Travis Simpson
Almardi Abdalla
Lindsey Azizeh
Sara Buck
Chris Johansen
Marsha Kephart
Eric Kool
Josh Moore
Scott Overland
Tom Rude
Dave Williamson
Kay Wright
Will Thomson
Annual Reports & Community Impact
As a nonprofit organization, accountability and transparency are central to everything we do.
Our Annual Reports highlight how investments from partners, lenders, and community organizations translate into stronger neighborhoods, expanded homeownership opportunities, housing rehabilitation, and measurable community impact.
Our Partners & Investors
Neighborhood Finance Corporation's impact is made possible through strong partnerships with financial institutions, government agencies, nonprofit organizations, and philanthropic foundations committed to expanding access to affordable housing.
Recent partners include:
NeighborWorks® America
Community Development Financial Institutions (CDFI) Fund
Bank of America Foundation
Wells Fargo Foundation
Polk County
First Interstate Bank
JP Morgan Chase
City of Des Moines
City of Cedar Rapids
City of Urbandale
City of West Des Moines
Greater Des Moines Community Foundation
Financial institutions also invest directly in NFC loan pools, providing the capital that helps finance home purchases, renovations, and neighborhood improvements throughout Iowa.
Together, these partnerships create lasting community impact while expanding access to homeownership for future generations.
Transparency
Neighborhood Finance Corporation is committed to responsible stewardship and transparent reporting.
Additional financial information, including our IRS Form 990, is available through Candid.
Protecting your civil right is good business. Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Stephanie Murphy at 515-246-0010 or SMurphy@neighborhoodfinance.org at least 48 hours prior to an appointment or event. For more information about protecting your civil rights, please click our Equal Housing Lender logo below.