Agents

• You must not have owned a home as your principle residence within the last three years (including a manufactured home on a permanent foundation).
• You must meet income and purchase price limits.

To qualify, one of the following must describe the households:

• The mortgagor must be a single-parent with at least one dependent child residing in the home 50 percent of the time.
• The mortgagor or the mortgagor’s spouse must have served in the active military, naval or air service and been discharged or released from active duty under conditions other than dishonorable.
• The mortgagor, mortgagor’s spouse or a dependent(s) must be permanently disabled or age 65 or older and reside in the home.
• You must meet income and purchase price limits.

• The maximum Roots loan amount must comply with the current Fannie Mae/Freddie Mac conforming loan amount or the limits of the applicable loan insurer/guarantor.
• Refinances are allowed. Start not available for refinances.

Through the Major Home Improvement Program, NDHFA provides affordable mortgage loans to low-to moderate-income households to buy and rehabilitate a single-family home or to refinance and rehabilitate their present single-family home.

• You must be the first residents of home following the completion of qualified improvements.
• You must meet income and purchase price limits.

The Internal Revenue Code requires that NDHFA, as an issuer of tax-exempt mortgage revenue bonds, set aside a portion of the proceeds of a bond issue for up to one year for reduced interest rate mortgage loans in Targeted Areas of North Dakota.

To determine if a home is in a Targeted Area, search by the address. Type in the address of the property, click search and the corresponding census tract will appear in the information listed. To qualify, the Census Tract number must match one of the tract numbers identified below.

Cass Census Tracts 0005.02,0006.01,0006.02, 0101.06, 0101.07, 0101.11
Sioux Census Tract 9409

• You must meet income and purchase price limits.

Through the DCA program, NDHFA provides low-income buyers with affordable mortgage loans that include down payment and closing cost assistance. Amount of assistance equals three percent of the first mortgage loan amount in the form of a credit towards your out-of-pocket cash requirement. This can be used for downpayment, closing costs and prepaid items.  

DCA cannot be used in conjunction with any other down payment assistance programs.

• You must meet income limits, which vary based on county and family size.
• Only one to two-unit properties (one unit must be occupied by borrower).
• You must complete a homebuyer education course and receive a certificate of completion that is dated before loan closing.

Through the Start Program, NDHFA provides low- to moderate-income buyers with affordable mortgage loans that include down payment and closing cost assistance. Amount of assistance equals three percent of the first mortgage loan amount in the form of a credit towards your out-of-pocket cash requirement. This can be used for downpayment, closing costs and prepaid items.  

• Start cannot be used in conjunction with any other down payment assistance programs.
• Start can only be used on one to two-unit properties (one unit must be occupied by borrower).

• All NDHFA homebuyer loans have a 30-year term.
• Loans can be pre-paid at any time without penalty.
• Co-signers are not allowed.
• Mortgagor, mortgagor’s spouse, or anyone secondarily liable on the mortgage must meet NDHFA’s program eligibility requirements.
• Projected 12 month income of the mortgagor, mortgagor’s spouse, or anyone secondarily liable on mortgage required to determine eligibility.
• All payments are due on the first of the month and must commence no later than 60 days from loan closing.
• The late fee charged on all loan types is four (4) percent.
• All loans are required to have an escrow account, no exceptions.
• Cannot finance closing costs (exception: FHA upfront premium, RHS and VA guarantee fees).
• Cannot finance personal property, and land or outbuildings not necessary to maintain the basic livability of the residence).
• Mortgaged property must contain all major systems (water, sewer, etc.).
• Mortgaged property must have direct access to a publicly maintained road.

FirstHome™ and Start

• Mortgagor, mortgagor’s spouse, or anyone secondarily liable on the mortgage must meet all eligibility requirements.
• Affidavit of Seller completed and returned to lender.
• Personal Property Addendum signed by seller and returned to lender.
• NDHFA requirements and guidelines explained to home buyer.

The following apply to rural properties.

• Direct access to publicly maintained road.
• Verified that water/sewage systems are on mortgaged property.
• Property consists of less than 10 acres.

Start Program

• Start program parameters explained to home buyers.
• Property consists of only one or two units.
• Home buyer and property are both eligible.

Down payment Closing Costs Assistance (DCA) Program

• DCA program parameters explained to home buyers.
• Lower Income Limits apply.
• Property consists of only one or two units.
• Requires completion of a NDHFA approved homebuyer education course.
• Home buyer and property are both eligible.

Common Myths Debunked