What We've Done

During the early 80’s NHS began utilizing funding to assist in owner occupied rehabilitation projects in our target area which was originally limited to South of Locust from Jersey Ridge on the East to Brady on the West.  Later the area was expanded to include the Garden Addition and encompassed the original historic preservation area of the City of Davenport.  NHS sought and received grant funds, and conducted fundraising activities to assist in owner occupied rehabilitation projects within that area.
 
In the late 80’s NHS determined that many of the home repair projects that we were providing technical and financial assistance for were being purchased by a liberal sellers contract with predator LTV and DTI interest.  This caused concern among the staff and board of the organization because without a secure lien mechanism, there was nothing to protect the home buyer from action by the contract seller to forfeit the home buyers interest and benefits of NHS programs. 
 
In 1987 NHS developed a grant program that established gap financing to allow our clients the ability to repay an affordable loan. NHS began adding a restriction in the form of a 5 year forgivable grant, and also in order to further secure our investment and the home buyers’ investment, refinancing contract(s) into traditional mortgage loans.

Soon, NHS responded to demand for multiple types of 1st and 2nd mortgage lending products which assisted in Home Ownership opportunities and Home Owner rehabilitation products within our community.

Vacant Property Rehab Examples

Adaptive Resolve

Over the years NHS has adapted our programs based on needs in the community and has utilized many innovative means to do so. Accomplishments:
  • Moved 8 houses from their original location to prevent demolition, and to preserve structurally sound homes, as well as reduce unnecessary waste of materials, and create affordable housing options.
  • Acquired several multi-family buildings in an effort to assist with the need for affordable rental options
  • Created and ran a successful historic salvage program the first of it’s kind in the community.
  • Acquired and secured lots within the community for the purposes of future in-fill development and/or providing a location for neighborhood pocket parks and community gardens.
  • Assisted in the creation of many neighborhood groups.
  • Established a local Home buyer Education program which includes down payment assistance.

Expanding Capacity

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In 2000 NHS obtained our CDFI (Community Development Financial Institution) Certification from the U.S. Treasury.  This certification has allowed NHS to leverage $2.7 million into more than $20 million in impacted reinvestment.
 
In 2008 NHS met the extensive requirements necessary to obtain our licensing through the Iowa Division of Banking and the National Mortgage Licensing Service as an Iowa Mortgage Bank.

Since 1981 NHS has:
  • Leveraged Public and Private dollars to affect $27 million of investment in our neighborhoods.
  • Provided 203 rehabilitated vacant homes for purchase
  • Financed 1978 loans for First Time Home buyers and Homeowners
  • Leveraged our initial CDBG investment of $2.8 million to 14.1 million
  • Granted or forgiven more than $1.3 Million on more than 2103 homes in the City. 
  • Impacts of NHS programs therefore can be demonstrated on more than 4000 homes within the City.