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NFC Neighborhood Reinvest Down Payment Assistance

Administered by: Neighborhood Finance Corporation · Nonprofit · Deferred Loan

Funding status: Active

How much assistance

$15,000 (Deferred Loan)

Not forgivable. 30-year deferred loan at 0% interest. Repayable at sale, refinance, or when the home is no longer the primary residence. No monthly payments.

Eligibility

Income limits: Household income below 100% of area median income.
First-time buyer required: No
Geographic restrictions: Home must be in an NFC-eligible lending area, which includes Polk County (Des Moines, West Des Moines, Windsor Heights, Urbandale) and Linn County (Cedar Rapids).
Homebuyer education required: Yes

How to Apply for NFC Neighborhood Reinvest Down Payment Assistance

Step 1: Must obtain first mortgage financing through Neighborhood Finance Corporation. Complete approved homebuyer education. Contact NFC at 515-246-0010 to begin application.

Visit program website

Notes

Can be stacked with the Polk County Down Payment Assistance Program and Iowa Finance Authority programs. NFC is a chartered member of NeighborWorks America.