NFC Renovation Loan Helps Cedar Rapids Family Help Others

Thursday, September 12, 2019

Keeyon Carter, his wife, Stephanie, and two children had been living in their 1,300 square foot, 3-bedroom, 1.5 bath home for about year when a co-worker showed Keeyon an ad for a loan that said something about “forgiveness” and it made him curious enough to give Neighborhood Finance Corporation a call.

After he learned he could get a loan where at least a portion was forgivable and didn’t need to be paid back as long as he and his family stayed in the home for at least five years, he was interested in applying. However, he was slightly hesitant only because he wanted to feel confident about the contingencies.

“We had to discuss whether we could stay in the home for that long, but ultimately we decided that even if we didn’t, it was a loan we could pay back if we had to,” Keeyon said.

They had plans to use the loan to renovate the attic and turn it into a guest room. As a pastor, Keeyon encounters many people in various life situations and there are times when someone could use a place to stay. It could also provide room for a foster child. However they use it, Keeyon says, “it’s really made a difference in the home — making it feel more open and spacious.”

The renovation took just two months to complete and there were even funds left over to redo flooring in their kitchen. It was a “use it or lose it” type situation and the couple thought it would be smart to apply the loan towards additional upgrades to the home. This is the second home the couple has purchased and they always look for those that need repairs or updates so they can make them and increase the value of the homes in their community.

When applying for the loan, Keeyon says, “NFC was friendly and helpful and I was happy and pleased in the overall process.”

As one of the first few individuals to obtain a loan like this, there was a bit of a learning curve for all, but NFC was upfront about that fact. And they went above and beyond in making sure everything was done and were receptive to feedback about the process as well.

“They did a good job of staying diligent with follow ups. My job keeps me busy — sometimes 12 hours a day. So, I can be difficult to get ahold of and yet, they continued to call and email with reminders and updates. I appreciated their persistency.”

Keeyon says he would “absolutely recommend Neighborhood Finance Corporation to others” and has to at least two people.

Qualifying for a loan like this through NFC encouraged them to convert the attic into more useable space. “Being able to do this was a blessing to us and we can’t wait to use it to be a blessing to other people.”

To learn more about NFC purchase, downpayment assistance and renovation loans, call 319.777.7127 or visit neighborhoodfinance.org.

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