0% Construction Loan

Calling all small scale developers in Cedar Rapids and Des Moines! NFC is currently offering 0% Construction Loans for new construction within eligible Census Tracts in Cedar Rapids and Des Moines areas. This program is intended for the construction of new homes for home ownership and cannot be used for rental properties.

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

Loan Requirements:

• 12 month term with balance due in full after closing of home
• Homes must have selling price less than $300,000
• Two years of building experience is required
• Preference is for homes to be built with a minimum of 3 bedrooms and 2 bathrooms

Please see attached for more details in each area:     Cedar Rapids     Des Moines