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  • Writer's picturePCHTF

Financing Des Moines' affordable homeownership dream

Updated: Apr 6, 2023

Neighborhood Finance Corporation has been lending in Des Moines since 1991. NFC provides unique lending programs and related services to help revitalize designated neighborhoods in Polk County and Cedar Rapids, Iowa. NFC has served 8,000 households in Des Moines making over $400 million in investments.

NFC’s lending helps people purchase homes, refinance existing mortgages, and secure home improvement renovation loans. They do this in partnership with Polk County and the cities of Des Moines, West Des Moines, Windsor Heights and Urbandale along with capital for lending raised from local financial institutions.

The lending areas where NFC operates were created in response to the impact of redlining and historic and discriminatory restrictions on access to capital. Those disparities are still quite apparent today as large racial and ethnic homeownership gaps exist in our community. While still providing lending to the community at large, NFC has been developing specific strategies to close these longstanding gaps.

In 2017, NFC was awarded funds that allowed the organization to offer down payment assistance and found that offering this benefit increased its lending to communities of color by 35%.

NFC has built on that progress by offering its Journey to Homeownership program which in its first year has nearly doubled the percentage of its loans to Black and African American homebuyers.

This year, NFC has just announced a new down payment assistance program that can provide up to a $30,000 deferred loan to eligible homebuyers purchasing in Polk County with an approved lender. This program will further expand the organization’s ability to help more people and families realize their dream of owning a home. Learn more about Neighborhood Finance Corporation at

This week, the Polk County Housing Trust Fund is sharing stories about some of our provider partners working to ensure housing opportunity for all. Make sure you sign up for e-mail updates to stay in touch when we share more stories like these.


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