At a glance
From its website, read 29 Oct 2026Neighborhood Finance Corporation is a loan fund based in Des Moines, Iowa. Its website describes home repair loans, affordable housing development loans and home mortgages. Where it lends: Polk County (Des Moines metro) and Linn County (designated Cedar Rapids neighborhoods), Iowa. Consumer loan APRs stated on its site range from 2% to 4%. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Main | (515) 246-0010 source |
|---|---|
| Main | (319) 777-7127 source |
| Apply online | Page with the application link |
| Website | www.neighborhoodfinance.org |
| Office (official list) | 4908 Franklin Ave, Des Moines, IA 50310 |
What their website says about applying
Meet with an NFC Loan Originator to discuss your goals and explore available financing options.
sourceContractor bids are required before loan approval.
sourceMeet with an NFC Loan Originator and submit your application.
sourceObtain contractor bids for your planned improvements.
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 29 Oct 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Home repair / improvement loans | Rate: 4% APR | will receive an interest rate of 4% (4.381% APR) | source |
| Home mortgages | Rate: 2% APR | Second mortgage up to 15% or 95% combined loan to value at 2% interest (APR) | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 17 Sep 2013 |
| RSSD ID | — (none listed) |
| Address | 4908 Franklin Ave, Des Moines, IA 50310 Directions (Google Maps) |
| Website | www.neighborhoodfinance.org |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 29 Oct 2026Read from 5 pages of the lender's website on 29 Oct 2026. Quotes are verbatim. Reviewed by a person (Oct 2026). Items added later were extracted with AI help and checked automatically against the pages listed below. Confidence: high. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Home repair / improvement loans | — | Refinance Home Improvement | source |
| Affordable housing development loans | — | Flexible gap financing for affordable rental housing developments | source |
| Home mortgages | — | Home Purchase Loan | source |
Loan sizes
Service area
Polk County (Des Moines metro) and Linn County (designated Cedar Rapids neighborhoods), Iowa
Our loan programs are available in the following areas:
source
Counties this matches: Linn County, IA, Polk County, IA
Borrower focus
- Nonprofits
Neighborhood Finance Corporation partners with developers, builders, nonprofit organizations, and community housing leaders to finance projects that expand homeownership, increase affordable housing, and revitalize neig…
source
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. NFC Properties For Sale Apply Now
source
Questions to ask when you contact them
Based on what their website said when we read it on 29 Oct 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - What interest rate and fees should I expect on your affordable housing development loans?
Their website does not state a rate for this. - Is there a minimum credit score, and do you consider borrowers with little or no credit history?
Their website does not say what credit history they accept. - Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - How long can I take to repay?
No repayment terms are stated on their website. - Do you offer down-payment help, and is a homebuyer education course required?
CDFI home loans often come with homebuyer education or down-payment help; their website does not say. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$12.9 million in 9 awards from the U.S. Treasury's CDFI Fund, 2000–2022 (4 programs).
| Round year | Program | Amount |
|---|---|---|
| 2022 | CDFI Equitable Recovery Program | $2,478,839 |
| 2021 | CDFI Rapid Response Program | $1,278,385 |
| 2018 | CDFI Program, Financial Assistance | $700,000 |
| 2015 | CDFI Program, Financial Assistance | $2,000,000 |
| 2014 | CDFI Program, Financial Assistance | $2,000,000 |
| 2013 | CDFI Program, Financial Assistance | $847,000 |
| 2012 | CDFI Program, Financial Assistance | $1,073,806 |
| 2001 | CDFI Program, Financial Assistance | $2,500,000 |
| 2000 | CDFI Program, Technical Assistance | $42,550 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Dec 2023| Total assets | $101.2M |
|---|---|
| Total liabilities | $40.1M |
| Net assets | $61.1M |
| Total revenue | $11.6M |
| Notes and loans receivable, net (Part X line 7) | $54.7M |
| Program-related investments (Part X line 13) | $19.1M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending December 2023 (tax year 2023; EIN 42-1353472, filed as “NEIGHBORHOOD FINANCE CORPORATION”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue | Notes and loans receivable |
|---|---|---|---|---|
| Dec 2021 (990) | $90.7M | $56M | $9M | $45.8M |
| Dec 2022 (990) | $94.7M | $56.2M | $6.8M | $49M |
| Dec 2023 (990) | $101.2M | $61.1M | $11.6M | $54.7M |
Total assets grew 12% from Dec 2021 to Dec 2023; notes and loans receivable rose 19%. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Total assets, latest IRS Form 990 | $101.2M | Larger than 88% of the 449 other certified loan funds and venture funds nationwide with a matched Form 990 (median $15.6M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Form 990 total assets | certified loan and venture funds with a Form 990, nationwide | 449 | larger than 88% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Form 990 figures: IRS annual extracts (see the Form 990 section).
Other certified CDFIs in Des Moines and Iowa
- Affinity Credit UnionCredit union · Des Moines, IAAuto / vehicle loans, Credit-builder loans, Home repair / improvement loans, Home mortgages…Verified
- Iowa Center Loan FundLoan fund · Des Moines, IAOfficial list only
- Casebine Community Credit UnionCredit union · Burlington, IAAuto / vehicle loans, Small-dollar / emergency loans, Home mortgages, Personal / consumer loansVerified
- Community 1st Credit UnionCredit union · Ottumwa, IAAgriculture / farm loans, Auto / vehicle loans, Home mortgages, Small-business loansVerified
- Iowa Community CapitalLoan fund · Boone, IAEquity / venture investment, Microloans, Small-business loansVerified
- Habitat for Humanity of Iowa, Inc.Loan fund · Altoona, IAOfficial list only
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