Neighborhood Finance Corporation

1912 Sixth Avenue
Des Moines IA, 50314-3331


Neighborhood Finance Corporation (NFC) targets services to halt deterioration in Des Moines" low- and moderate-income central city neighborhoods. The organization provides home purchase/rehab loans for owner-occupied single- or multi-family housing. From 1998 to 2000, the organization has originated an annual average of 92 home purchase loans totaling $5.1 million, 35 home improvement loans totaling $690,000 and 14 construction and development loans totaling $650,000. NFC also offers contract refinance and rehab loans and investor rental property mortgage for first or second mortgages on affordable housing projects.

CDFI Awards for Neighborhood Finance Corporation


CORE (2001) - $2,500,000

NFC has been awarded $2,500,000 ($1,500,000 in grant funds and $1,000,000 in loan funds) to expand its investor mortgage program and short-term bridge financing for construction, and to explore commercial real estate lending.



SECA (2000) - $42,550

The technical assistance award will be used to provide staff training and obtain consulting services.



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