Energy Advantage Deferred Loan

Lower your energy costs by adding or replacing items such as: solar, heat pump, new efficient HVAC system, Energy Star windows and doors, and other items.

NFC’s Energy Advantage is a $10,000 deferred loan*, with 0% interest (0.136% APR), that is paired with a NFC repayable and forgivable loan (forgivable loan up to $15,000 in Cedar Rapids and $10,000 in Polk County) to meet your renovation and energy improvement goals to save on your energy costs. 

  • The Energy Advantage program is funded by local governments. Currently, the Energy Advantage program is available in the NFC lending areas (Cedar Rapids, Des Moines, Urbandale, West Des Moines, and Windsor Heights). Please check with NFC to determine if you meet the program qualifications, as it varies by location.
  • The Energy Advantage deferred loan will be paired with a NFC repayable loan and forgivable loan.

The Energy Advantage is an additional benefit to the NFC Advantage Loan. Even if the Energy Advantage isn’t available in your area or 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.

*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.

Program Flyer for Des Moines, Urbandale, West Des Moines, and Windsor Heights            Program Flyer for Cedar Rapids

Information on bids in Des Moines, Urbandale, West Des Moines, and Windsor Heights.       Information on bids in Cedar Rapids.

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

 

Please contact our Loan Originators for more information.

Des Moines Area/Polk County

 

Cedar Rapids