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148 S 39th St
Omaha, Nebraska 68131
Phone 4029334164
Contact

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For Developers

Flexible Financing for Affordable Housing Development

Front Porch Investments helps developers bring affordable and workforce housing projects to life across the Greater Omaha Metro. Through our Development and Preservation Fund, we provide below-market financing for new construction, preservation, rehabilitation, and adaptive reuse projects that expand housing opportunity and strengthen communities.

Whether you're a nonprofit or for-profit developer, our team can help you explore financing options and determine whether your project aligns with our funding priorities.

Development & Preservation Fund

The Development and Preservation Fund is a revolving loan fund that provides flexible financing for affordable housing projects serving households earning up to 120% of Area Median Income (AMI).

The fund supports both the development of new housing and the preservation of existing affordable homes throughout the Greater Omaha Metro.

We prioritize projects that:

  • Maximize housing affordability
  • Encourage innovation
  • Invest in diverse developers or businesses
  • Target strategic areas of investment
  • Promote housing justice and equity
  • Engage the broader community

Loan Funding Overview

The Development and Preservation Fund provides short- and long-term loans for affordable housing projects at 120% AMI or lower within the Greater Omaha Metro. Applications go through a multi-stage review process, including rigorous underwriting.

Loan Funding Overview

  • Affordable housing development and preservation projects
  • Located in the Greater Omaha Metro (Douglas and Sarpy County Nebraska and Council Bluffs, Iowa)
  • Loan Range: $200,000–$3,000,000
  • Affordability requirements will apply.
  • Loan guaranty requirements apply for all borrowers.
  • Origination fee of 1%
  • Fixed interest rates currently provided at 2–4%

Eligible Borrowers

Front Porch Investments (FPI) exists to provide a wide range of loan financing to developers (for-profit and nonprofit), community development organizations, Community Development Financial Institutions, and housing-supportive nonprofits. Impact Development Fund (IDF) administers the loans on behalf of FPI. Note: Submitting an application does not guarantee funding. All loans must maintain a minimum DSCR of 1.10x.

Rates and Fees

Rates are set at the time of loan approval. Loans are currently provided at a 2-4% fixed interest rate, and origination fees are 1%. 

Eligibility

Applicant Eligibility

  • For-Profit Developers / Owners
  • Nonprofit Organizations

Project Eligibility

  • Located in the Greater Omaha Metro (Douglas and Sarpy Counties in Nebraska and Council Bluffs, Iowa)
  • New construction, purchase/preservation of existing affordable housing, and rehab/adaptive reuse of an existing structure
  • Rental and for-sale housing projects
  • Mixed-use and mixed-income projects are eligible, although restrictions on the percentage of funding apply.
  • Serves households at or below 120% AMI

Application Process

Depending on the project, application timelines may vary.

1 | Pre-Application
If you're interested in applying for funding for your project, please complete the Loan Program Interest Form. Once submitted, our Loan Manager will schedule an initial call to discuss your project details, establish milestones, and outline application timelines and next steps.

The purpose of this pre-application stage is to ensure your project aligns with FPI's investment priorities, meets the eligibility requirements, and is ready for the next stage. Once this stage is complete, you will receive an invitation to formally apply and submit the necessary documents for underwriting.

2 | Application and Underwriting
Applicants will complete an application, including all necessary financial documentation to be considered for funding. Underwriting is completed in collaboration with our partners at Impact Development Fund. Our goal is to complete underwriting within 4-8 weeks of receipt of a final application.

3 | Review and Approval
Applications will be reviewed on a monthly basis and will go through a multi-stage review, including committee review and final approval by the Board of Directors. Funding decisions consider both alignment with FPI's funding priorities and the outcome of project underwriting.

Front Porch Investments
148 S 39th St
Omaha, Nebraska 68131
Phone 4029334164
Contact
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