Home Purchase

No other home loan or mortgage product offers the types of loans offered by NFC -- that is the NFC Advantage.  If you’re looking to purchase a home, then NFC has a product for you.

All NFC loans must be in an NFC lending area.

  • A forgivable loan up to $10,000 for home improvements is available. NFC financing must be used to purchase your home to receive up to $10,000 for home improvements.  Homebuyers may also be able to borrow funds for renovations that exceed $10,000.
  • Maximum 1st mortgage loan amount $300,000 (up to 80% loan to value).  All loans over $180,000 require Loan Committee approval.
  • 2nd mortgage loan amount up to 15% loan to value at 2% interest (APR 2%) for 10 years
  • Possible down payment assistance of a $10,500 deferred loan at 0% interest (APR 0%)
  • Possible closing cost assistance of up to $2,000 or $2,500 available in most lending areas


Here is a short video explaining the NFC Advantage Purchase Loan application process.  You will leave the NFC website.

(Determination of whether or not closing cost assistance is received and if so, the amount, cannot be made until after a complete application and supporting documentation has been reviewed by NFC.)

  • The forgivable renovation and closing cost funds are five year forgivable mortgages with 20% forgiven each year of owner-occupancy.  You must occupy the home for five years to receive the full forgiveness.  
  • 5% down payment; 3% must be the borrower's own funds
  • Examples of eligible renovation items can be found on the NFC Loan Programs page
  • No private mortgage insurance
  • Competitive Fixed Interest Rate
  • NFC offers up to a $20,000 forgivable loan for homebuyers financing their loan through NFC and downsizing a multi-family property to a single-family property.  The subsidy is a loan forgiven over 10 years at 10% a year.


Our program is intended to improve neighborhoods and increase owner occupied home ownership; therefore, you must occupy the property.

Please review the complete details of the NFC Advantage Loan for more information or to complete an application.