Waveland Park Neighborhood Association

Waveland Park NFC Loans & Grants Total Over $7.5 Million!

Mar 19, 2005

According to Gary Dodge of the Neighborhood Finance Corporation, Waveland Park was their largest volume neighborhood in 2004. NFC originated 19 home purchase loans for $2,290,231 and $210,750 in grants, equaling $2,500,981 in loans and grants for 2004. In 2004, NFC originated 11 home improvement/refinance loans for $211,046 and $69,015 in grants, equaling $280,061 in loans and grants. Total Waveland Park loans and grants in 2004 were 30 for $2,781,042. Since NFC started lending in Waveland Park in 2002 through 2004, NFC has originated 90 loans for $7,568,308 in loans and grants. Here is a summary of Waveland Park Total Loans from 2002 to 2004:


Home Purchase: 51 Loans
Dollar Amount: $5,429,823
Average Loan: $106,467
Subsidy: $596,105

Refinance/Home Improvement: 39 Loans
Dollar Amount: $1,345,605
Average Loan: $ 34,503
Subsidy: $196,775

TOTAL LOANS: 90
Dollar Amount: $6,775,428
Subsidy: $792,880

2002 Average Home Purchase Price:
$104,376

2003 Average Home Purchase Price:
$116,791 (12% increase)

2004 Average Home Purchase Price:
$131,729 (13% increase)

Homeowners in Waveland Park are eligible for programs of the Neighborhood Finance Corporation because of the successful efforts of the WPNA to become a ?“designated neighborhood?” in the Neighborhood Revitalization Program. The period of time for which these programs are available is limited! Representatives of the NFC will have a resource table at the ?“Spring Fling?” on April 13th. If you have questions or want to get started on an application for a loan program of the NFC, come to the Annual Meeting to get details.