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NFC Advantage Purchase Loan

Administered by: Neighborhood Finance Corporation · Nonprofit · Forgivable Loan

Funding status: Active

How much assistance

First mortgage up to $250,000, second mortgage up to 15% LTV, plus forgivable renovation loan up to $10,000 (Forgivable Loan)

The $10,000 renovation portion is forgivable over the life of NFC financing when used to purchase a home in a designated NFC lending area.

Eligibility

Income limits: Varies. Contact NFC for current limits.
Purchase price limit: $250,000
First-time buyer required: No
Geographic restrictions: Property must be in a designated NFC lending area (primarily Polk and Linn counties).
Homebuyer education required: Yes

How to Apply for NFC Advantage Purchase Loan

Step 1: Contact Neighborhood Finance Corporation at 515-246-0010 for the Des Moines area. NFC will underwrite the first and second mortgage and coordinate the renovation funding at closing.

Visit program website

Notes

Designed for neighborhood revitalization. Pairs well with NFC Neighborhood Reinvest DPA and Polk County DPA.