Neighborhood Finance Corporation (NFC) Programs
Explore local funding opportunities through the Neighborhood Finance Corporation (NFC), a non-profit devoted to community revitalization. The NFC offers a variety of programs to cater to different financing needs. Below is a detailed chart outlining the available NFC programs and incentives. Be sure to view the interactive map below to see if your house is inside the NFC territory. For further information and clarifications, please contact Bryce Dake (NMLS #1897289) at 319-777-7128 :
| Program Name
|
Incentive Amount
|
Description
|
Qualification
|
|---|---|---|---|
| NFC Forgivable Loan | $15,000 | Used for home improvements such as finishing the basement or adding a garage | No income limits |
| NFC Closing Cost Assistance | $2,000 - $2,500 | Closing cost assistance | 80% - 120% area median income |
| NFC Neighborhood Reinvest | $10,500 | Down payment assistance | 100% area median income |
| NFC Journey to Homeownership | $15,000 | Down payment and closing cost assistance | African American/Black homebuyers earning up to 100% area median income |
| NFC Energy Advantage Program | $10,000 | Used for energy improvement projects | No income limits |
| City of Cedar Rapids First Time Home Buyer Program | $1,000 - $14,999 | Down payment and closing cost assistance | 80% area median income |
| Federal Home Loan Bank (as funds available) |
$7,500 | Down payment assistance | 80% area median income |
Household Income based on Household Size:
| Household Size
|
Household Income 80% Area Median Income
|
Household Income 100% Area Median Income
|
|---|---|---|
| 1 | $53,000 | $66,300 |
| 2 | $60,600 | $75,700 |
| 3 | $68,150 | $85,200 |
| 4 | $75,700 | $94,600 |
| 5 | $81,800 | $102,200 |
| 6 | $87,860 | $109,800 |
| 7 | $93,900 | $117,400 |
For further information and clarifications, please contact Bryce Dake (NMLS #1897289) at 319-777-7128 . Visit NFC Cedar Rapids or view their site below.
At Cutter Construction your construction aspirations are at the core of what we do
We are dedicated to providing flexible financing solutions to ensure your residential or commercial project sails smoothly from inception to completion.
Here are the curated financing options we offer:
GreenSky Financing
Fixed Rate APR for 120 Months
Plan 9991. Loan term is 120 months and rates range from 9.99%-22.99% APR. Loan amount and rate will vary based on your income and creditworthiness. For example, assuming the full credit limit is used on loan approval date, for every $1,000 financed at 22.99% APR, 120 monthly payments of $21.35.*
*Subject to credit approval. These examples are estimates only. Actual payment amounts based on amount and timing of purchases. Call 866-936-0602 for financing costs and terms. Loans for the GreenSky® consumer loan program are provided by Synovus Bank, Member FDIC, NMLS #408043, without regard to age, race, color, religion, national origin, gender, disability, or familial status. GreenSky Servicing, LLC services the loans on behalf of your lender, NMLS #1416362.
www.nmlsconsumeraccess.org.
GreenSky® is a registered trademark of GreenSky, LLC and is licensed to banks and other financial institutions for their use in connection with that consumer loan program. GreenSky Servicing, LLC is a financial technology company that manages the GreenSky® consumer loan program by providing origination and servicing support to banks and other financial institutions that make or hold program loans. GreenSky, LLC and GreenSky Servicing, LLC are not lenders. All credit decisions and loan terms are determined by program lenders.”
Option # 1
12 Months – No Interest No Pay (2521)
- Enjoy a payment-free and interest-free period for 12 months.
- If NOT paid off by month 12, it converts to an 84-month loan with a standard interest rate of 17.99 % to 26.99%.
Option # 1
12 Months – No Interest No Payments (2521)
- Enjoy a payment-free and interest-free period for 12 months.
- If NOT paid off by month 12, it converts to an 84-month loan with a standard interest rate of 17.99 % to 26.99%.
Option # 2
12 Months – No Interest with Payments (2611)
- No interest charged if paid off within 12 months.
- If not paid off by month 12, it converts to a 36-month loan at a standard interest rate of 17.99% to 26.99%.
9991 Loan
12 Months – No Interest with Payments (2611)
- 120-month loan term with rates from 9.99% to 22.99%
Option # 3
- Reduced Rate of 6.99% for 60 Months (2716)
Option # 4
- Reduced Rate of 9.99% for 120 Months (2740)
Option # 5
- Reduced Rate of 10.99% for 84 Months (2720)
Commercial Financing
For our commercial clientele, we offer financing solutions to cater to the unique demands of commercial projects. Secure financing up to $1,000,000 to expedite the realization of your commercial construction ambitions. This robust financing solution is designed to provide the financial leverage needed to drive your commercial project to success while preserving your business’s liquidity and financial health.
