Does NFC provide down payment assistance?

NFC offers repayable, forgivable, and deferred financing options depending on the loan program.

How do I get started?

Complete an online application or contact NFC to schedule an appointment with one of our loan specialists.

How do I know if I qualify?

Eligibility depends on several factors, including your home’s location, the type of improvements you’re planning, and the financing program that best fits your needs. The easiest way to find out is to speak with an NFC loan specialist.

How long must I own my home before applying?

At least 12 months for renovation and refinance loans (exceptions apply for emergency repairs).

What types of financing are available?

Borrowers may qualify for repayable, forgivable, and deferred support.

Do I need to live in an NFC lending area?

The Energy Advantage Program is available for homes located within NFC’s designated lending area neighborhoods in Cedar Rapids, Des Moines, select neighborhoods in Urbandale and West Des Moines.

What types of projects qualify?

Insulation, air sealing, solar, heat pumps, roofing, windows, siding, HVAC updates, electrical and plumbing upgrades, kitchen and bathroom renovations, foundation repair, home additions, sidewalks, driveways, and garages.

Who are the Energy Advantage Programs for?

Homeowners in NFC lending areas who want to lower energy costs, improve comfort, and make energy-smart upgrades.

Neighborhood Finance Corporation

Energy Advantage Programs

Q: Is loan forgiveness available?

Yes. Loan forgiveness is based on five years of owner-occupancy.

Q: What is a deferred loan?

A deferred loan has no payments and no interest and is repaid only when the home is sold, refinanced, or no longer your primary residence.

What the Energy Advantage Programs Offer

The Energy Advantage Programs are designed to help reduce energy costs for homeowners in qualifying NFC lending neighborhoods in the Des Moines and Cedar Rapids areas, while enjoying smart, modern, cost-saving home improvements. It supports energy-efficient and climate-friendly improvements that may have previously felt financially out of reach.

Energy Upgrade Loan 4% Interest and (4.55% APR)

Energy Advantage Deferred 0% Loan Paired With Forgivable Support

Why Homeowners Choose the Energy Advantage Programs

Energy Advantage reframes energy efficiency as practical, everyday home improvements — not just solar panels. From insulation and air sealing to heat pumps, EV chargers, and modern electrical upgrades, the program helps you improve comfort you can feel and savings you can see.

Lower energy bills without high upfront cost

Improve comfort throughout your home

Modernize with energy-smart upgrades including insulation, solar, heat pumps, window replacements, and other improvements

Make upgrades that pay you back over time

Access flexible financing designed for deeper efficiency projects

Benefit from repayable, forgivable, and deferred loan options

Part of NFC’s trusted Loan & Assistance Programs serving Iowa homeowners

Examples of Qualifying Improvements

Renovations eligible when a NFC Loan is paired with an Energy Advantage Deferred Loan.

Renovations	NFC Purchase, Refinance and Home Improvement Loan	NFC Energy Upgrade Loan
Solar
Weatherization & Insulation
Windows
Furnace
Water Heater (gas)
Water Heater (electric)
Heat Pump
Electric Appliances without a kitchen update
Whole home electrification
EV Car Charger
Other home improvements "on the path to net zero"
Roof, electrical or plumbing to complete other eligible improvements

Energy Upgrade Loan 4% Interest (4.55% APR)

The Energy Upgrade Loan with 4% Interest (4.55% APR) is a below‑market‑rate financing option designed to help homeowners complete qualifying energy‑efficient improvements. It supports upgrades that reduce your carbon footprint, improve comfort, and put your home on a path toward long‑term energy savings.

This loan pairs with NFC’s forgivable and deferred financing options to make deeper energy improvements attainable with little or no upfront cost.

Do I Qualify? Take a Short Survey

Deferred 0% Loan Paired With Forgivable Support

NFC’s Energy Advantage Program includes a $10,000 deferred loan, with 0% interest (0.136% APR), designed to help homeowners complete energy‑smart upgrades such as solar, heat pumps, efficient HVAC systems, ENERGY STAR windows and doors, insulation, and other improvements.

This deferred loan is paired with:

An NFC repayable loan (such as Purchase, Refinance, Home Improvement, Exterior Front Porch, or Energy Upgrade Loan)
An NFC forgivable loan (up to $15,000)

Together, these financing tools help homeowners complete meaningful renovation and energy‑efficiency projects without large upfront costs.

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.

Eligibility and Terms

Location Property must be located within an eligible NFC neighborhood lending area in Cedar Rapids, Des Moines, and select neighborhoods in Urbandale and West Des Moines.

Occupancy and Ownership For renovation and refinance loans, homeowners must have owned the home for at least 12 months (exceptions apply for emergency repairs). Loan forgiveness is based on five years of owner occupancy.

Loan Requirements A repayable loan must be paired with an NFC forgivable or deferred loan. NFC loans do not require private mortgage insurance (PMI).

Terms Borrowers may qualify for a combination of repayable, forgivable, and deferred support. Loan terms range from 5 - 30 years, with rates varying by product.

Do I Qualify? Take a Short Survey

Get Started

Begin the process by completing an online application at NeighborhoodFinance.org or call 515-246-0010 to schedule an appointment with a loan originator.

Your typical journey includes pre-qualification, property evaluation, contractor bids, and completing repairs within six months of closing.

Validate in NFC Lending Area

View the NFC Lending Area Map for geographic boundaries.

View Map

Review Rates and Calculations

Use the mortgage calculator to estimate monthly payments.

Rates & Calculators

Apply Today!

Speak with an NFC Loan Originator and Apply Online.

Learn More

More Information and Homebuyer Education

The Energy Advantage is an additional benefit to the NFC Advantage Loan. Even if the Energy Advantage isn’t a good fit for your home renovations plans, NFC is here to assist you with all your home energy improvement and renovation projects.

Federal Tax Credits are available for some energy improvements. Please visit the Energy.gov website and meet with a tax advisor for more information.