A Public-Private Partnership to Encourage Home Ownership and Neighborhood RevitalizationThe City of Cedar Rapids is excited to bring this unique financing option to our residents!
What is Neighborhood Finance Corporation?
Neighborhood Finance Corporation (NFC) supports and promotes neighborhood revitalization by encouraging the purchase and renovation of homes in targeted Cedar Rapids Neighborhoods. NFC has operated in the Des Moines area since 1990 and in partnership with the City of Cedar Rapids, area financial institutions, and private businesses, NFC opened its Cedar Rapids office in 2018.
How does it work?
NFC offers purchase, refinance, and home improvement loans. Loans are paired with forgivable loans for renovation costs that are forgivable over 5 years.
Who is eligible?
The program is open to any homeowner in the lending areas, regardless of income. To qualify for a home improvement or refinance loan, you must have owned your home for the last 12 months (exceptions for those seeking help with emergency repairs).
View a map of the lending area: Lending Area Map
How do I apply?
Cedar Rapids NFC Office
1800 First Ave NE
Suite LL 1
Cedar Rapids, IA 52402