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Neighborhood Finance Corporation outlines Polk County down-payment and renovation programs, energy lending and CDFI grant plans
Summary
Stephanie Murphy of Neighborhood Finance Corporation told Polk County supervisors NFC helped 296 borrowers with $12 million in lending, described a Polk County-backed down-payment program deployed to $4.5M of $5M, explained 0% deferred loan terms for forgivable assistance and previewed plans to apply for EPA greenhouse-gas CDFI funds.
Stephanie Murphy of Neighborhood Finance Corporation told Polk County supervisors that NFC’s coordinated lending and program work has moved significant local money into homes and repairs and leveraged additional private capital.
Murphy said NFC and partners served 296 borrowers with about $12 million in total lending, including roughly $4.2 million for renovations, and that the Polk County down-payment fund had disbursed $4.5 million of a $5 million allocation through July. She described the Polk County down-payment assistance as structured around a 0% deferred loan that borrowers must repay if they sell the home or do a cash-out refinance, and said…
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