Neighborhood Finance Corporation

Down Payment Assistance Programs

NFC’s down payment assistance programs are designed to make homeownership more attainable for buyers who receive their purchase loan through NFC. These programs work alongside NFC’s forgivable renovation loan, helping homebuyers reduce upfront costs and strengthen long‑term stability.

NFC offers three down payment assistance options to support eligible buyers:

  • NFC Down Payment Program — a flexible deferred loan available to buyers in NFC Lending Areas.
  • Journey to Homeownership (J2H) — a targeted program supporting homebuyers through education and down payment assistance aligned with the One Economy Blueprint for Action. Available to eligible homebuyers through NFC or an approved lender.
  • FHLB Home$tart — a federally funded, income‑restricted program offering forgivable down payment assistance, subject to availability and federal guidelines.

Together, these programs give homebuyers multiple pathways to reduce upfront costs and move confidently toward homeownership.

Available Programs

NFC Down Payment Program

  • $15,000 at 0% interest (0% APR)
  • Deferred Loan that is paid off when you sell the home or receive a cash-out refinance
  • Used for down payment and closing costs
  • Maximum household income is 100% of the area median income
  • Homebuyers are required to complete eight hours of homebuyer education before receiving the loan. Please visit NFC Homebuyers Resources Page and talk to your NFC Loan Originator for additional information
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Journey to Homeownership (J2H)

This is down payment and closing cost assistance in NFC Lending Areas supporting eligible homebuyers aligned with the One Economy Blueprint for Action.

  • $10,500 or $15,000 in a Core Neighborhood at 0% interest (0% APR)
  • Deferred Loan that is paid off when you sell the home or receive a cash-out refinance
  • Used for down payment and closing costs
  • Maximum household income is 100% of the area median income
Learn More

Federal Home Loan Bank (FHLB) Home$tart Down Payment Asssistance (DPA)

A program offered by the FHLB providing up to $15,000 in forgivable support for eligible homebuyers.

  • $15,000 forgivable loan for down payment & closing costs
  • Forgiven after 5 years of owner occupancy
  • Available to households earning up to 80% AMI
  • Must be a first- time homebuyer or not have owned a home in the last three years
  • Funds are limited and may not always be available
  • Approval is determined by Federal Home Loan Bank, not NFC
Learn More
IF YOU RECEIVED DOWN PAYMENT ASSISTANCE THROUGH NFC and have questions about receiving a subordination or a payoff, please visit the Subordination Guidelines page of the NFC website.