NFC Lending and Community Programs



Polk County Large Renovation Gap Funding Program

The program is funded by a $6 million dollar grant from Polk County.  Homeowners with household incomes below 80% of the Polk County area median income limit may be eligible to receive up to $30,000 for repairs to their home using a deferred loan.  The goal is to create sustainable and safe living conditions for existing homeowners who may not otherwise qualify to make repairs on their own due to income or credit.

You must first inquire with one of these affordable housing organizations who are working in a collaborative effort to provide this service.  Neighborhood Finance Corp (NFC), City of Des Moines Improving Our Neighborhoods (ION), Habitat for Humanity, Rebuilding Together, City of West Des Moines Metro Home Improvement Program (MHIP), or Polk County Emergency Repair. Click here for contact information for these programs or contact Neighborhood Finance Corporation if you are interested in our loan programs.

Click here for the Program Flyer for more information!

What is a Deferred Loan?

A 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. For this program, there are no payments or interest due until year twenty, and at that time the deferred loan will convert to a forgivable loan. The loan will be forgiven at 10% a year over 10 years. If the deferred loan is less than $20,000 it will be forgiven at 20% a year over 5 years.

Energy Advantage and Solar

NEW in 2023! NFC is excited to announce our new Energy Advantage Deferred Loan Program. Initially, it is available in Urbandale, Des Moines, and Cedar Rapids with plans to expand to the rest of the NFC Lending Area in the coming months.

NFC was a partner in Grow Solar Polk County, a community-led program to educate homeowners on solar energy and reduce the cost of going solar which ended in 2022. 1 Source Solar, the program’s selected installer, will continue to offer free, no obligation solar site assessments for those living in a NFC lending area now through February of 2023. For full details, please visit the Grow Solar website.

Though the Grow Solar program is not available in Cedar Rapids, the NFC Advantage loans and forgivable loans are available to solar installation and other energy improvements. For more information on how NFC loans and forgivable loans work together, please visit the Energy Advantage page of the NFC website or contact a NFC Loan Originator.

Polk County (Des Moines Area) Programs

Invest DSM

The Invest DSM neighborhoods are those in green with the dark green outline on our NFC Lending Area map. For more information on how NFC loans and forgivable loans work together contact Terry Gearhart, Vice President of Lending, NMLS 4453, at 515-273-1365 or

NFC and Invest DSM Programs work together if the home is in a Special Investment District (SID). Click here for more information.

NFC’s Exterior Repair Loan and forgivable loan can work with the Block Challenge Grant. Click Here for information on how the two programs work together.

Additional information on the Invest DSM programs are available on the Invest DSM website.

Historic West Des Moines Housing Fund - Downpayment Assistance

The City of West Des Moines has a Down Payment Program that can be used with a NFC Advantage loan and forgivable loan for eligible applicants.

For more information on the Program guidelines visit the City of West Des Moines website. For more information on how NFC loans and forgivable loans work together contact Terry Gearhart, Vice President of Lending, NMLS 4453, at 515-273-1365 or

Please check back in May 2023 for updated information.

Save Our Sewer Program (Available in all of Windsor Heights)

NFC partners with Polk County and the Windsor Heights-Urbandale Sanitary Sewer District to provide a financing option for Windsor Heights residents who need to replace or repair their sewer line as part of the Save Our Sewers (S.O.S.) Program. The SOS Loan program is offered city-wide to residents as a NFC Advantage Loan paired with a forgivable loan. For more information, visit the NFC Loan Programs page of the website.

Linn County (Cedar Rapids Area) Programs


NFC Advantage Loan Programs have been enhanced to work with all homeowners impacted by the Derecho.  NFC works in cooperation with the PATCH program in Cedar Rapids.  NFC Advantage Loan Programs are available to eligible borrowers without income limits.

Neighborhood Finance Corporation Cedar Rapids (NFC) is proud to be a partner in the Linn County PATCH program. NFC is partnering with Waypoint, the Housing Fund for Linn County, Matthew 25, HACAP, Cedar Valley Habitat for Humanity, ECICOG and local governments throughout Linn County to provide emergency repair and forgivable loans to homeowners impacted by the August 10, 2020 derecho storm.  This program is separate from NFC's other lending programs.  For program qualifications and information on how to apply, please visit the ECICOG website for program qualifications and information on how to apply.  Or call Waypoint at 319-366-7999.

Click here for a PATCH Program Flyer