Down Payment Assistance - Neighborhood Reinvest

The NFC Neighborhood Reinvest Down Payment Assistance Loan Program provides down payment assistance loans to borrowers in NFC lending areas in Des Moines, West Des Moines, Windsor Heights, Urbandale and Cedar Rapids, Iowa.

Save time prior to your purchase agreement and get your home buyer education completed. It is good for 12 months. You may even be eligible for additional down payment and closing cost assistance if you complete your Homebuyer Education ahead of time.

Contact a NFC Loan Originator or our community partners, HOME, Inc. (Polk County/Des Moines) or Horizons (Linn County/Cedar Rapids) to start the process today!

How the Program Works:

  • An eligible homebuyer earning below 100% of the area median income may apply to receive a $10,500 30-year deferred loan at 0.00% interest rate (APR 0.00%) for down payment on a home in an NFC lending area. 
  • The deferred loan does not have to be repaid until the home is sold or, in some instances, when the homeowner seeks to refinance the home.
  • Homebuyers are required to complete eight hours of homebuyer education before receiving the loan. Please visit the NFC Resources Page and talk to your NFC Loan Originator for additional information.
  • NFC will provide the first mortgage fixed-rate loan and the $10,500 down payment loan. 
  • NFC’s Advantage Loan includes an additional forgivable loan up to $10,000, or $15,000 in Cedar Rapids, for renovation and up to $2,500 for closing costs for eligible home buyers.

Borrower Requirements

  • Household annual income at or below 100% of Area Median Income.
  • Homebuyers are required to complete approved homebuyer education before receiving a loan. Property must be an owner-occupied principal residence.
  • Homebuyer Education needed for Neighborhood Reinvest down payment program.
  • May not own another property at time of closing. Current home must be sold before closing on the new home.
  • Must obtain first mortgage financing through Neighborhood Finance Corporation (NFC Des Moines or NFC Cedar Rapids.)


For more information on the program please contact the office for the appropriate cities as follows:

Des Moines, West Des Moines, Windsor Heights and Urbandale:  515.246.0010
Cedar Rapids:  319.777.7127


*What is a Deferred Loan? A NFC deferred loan does not have to be repaid until the home is sold, is no longer your primary residence, or in some instances, when the home is refinanced. There are no payments or interest, though you may choose to pay an extra amount on your repayable mortgage. A NFC Loan Originator can provide you with additional information. Click here for the deferred loan flyer. If you have questions about when NFC will subordinate a loan, please visit the Subordination Guidelines page of the NFC website.