Multifamily Lending

Permanent Financing

NFC has secured $2MM in new funding to expand access to affordable rental housing through permanent financing. Permanent financing is to be used to support ongoing affordability of multifamily LIHTC projects. The goal is to offer flexible terms to best leverage other sources like tax credits and private debt. This program is intended to be gap financing for projects with rates and terms that are matched to the first lien mortgage.

*Please note that this product is intending to be used in the City of Des Moines only

Other Financing

The NFC Commercial Program is dedicated to working with developers to support affordable housing activity in Cedar Rapids and Des Moines. If we know one thing about affordable housing, it has its own challenges and every project may need something a bit different. NFC has provided a variety of financing option to support housing developments in Des Moines, even if it doesn't fit the permanent financing category. If you believe your project could benefit from our financing options, we welcome the opportunity to discuss how we may be of assistance.