Customers

Payments are due on the first day of each month. Allowing for a 15-day grace period for mailing, the late fee is charged if we receive payment after 5:00 p.m. on the 16th of the month. Accounts are reported to the credit bureaus as delinquent if payment is not received by 3:00 p.m. on the 30th. If the 30th falls on a weekend, the payment must be received by the last business day of the month prior to the 30th.

Although the principal and interest portion of your payment is fixed, taxes and insurance are also paid with funds accumulated from the payment. Those premiums change each year and the changes are reflected in a payment adjustment through escrow analysis.

Your equity is the difference between what is owed on the home and what the home is worth. You can obtain current market values from your county tax office, a real estate agent, an appraiser or a comparable property sale in your area.

Sending us a copy of the document supporting a name change (marriage certificate, divorce decree, Quit Claim Deed) will allow us to change how your name appears on your account. This does not change the legal ownership of your property.

We cannot add a spouse to a loan, but you can share interest on the property with a spouse by executing a deed. Contact an attorney for legal advice on property transfers.

In a divorce situation, removing an ex-spouse from having interest and liability on a mortgage can only be done through refinancing your loan, or a release of liability (depending on loan type). Contact NDHFA for more information.

The principal balance is the amount remaining on the original loan. The payoff amount includes the principal balance, daily interest since the last payment, less funds in escrow. In most cases when completing a loan application or credit information, the principal balance will work. If your loan is actually paying off, the title company handling the closing will contact us for a payoff statement.

It is very important to understand different types of insurance. For example, Private Mortgage Insurance is not the same as credit life insurance and does not offer the same type of coverage in the event of a death. And, hazard insurance is required when you have a loan and it is recommended that you continue coverage once your loan is paid off. To learn more about insurance, read “Understanding Insurance”, visit with your insurance agent, or view the consumer section of the North Dakota Insurance Department website, www.nd.gov/ndins.

The refund of your escrow account is calculated in your payoff statement.

No, your escrow account is mandatory.

The service fee schedule is as follows.

• Processing or reprocessing a mortgagor’s NSF check. $15.00
• Providing a copy of the mortgage or Deed of Trust, if the copy is a duplicate of what has already been provided to the mortgagor. $5.00
• Providing a replacement coupon book. $5.00
• Providing a copy of the Mortgage Note, if the copy is a duplicate of what has already been provided to the mortgagor. $5.00
• Providing a copy of the settlement statement, gift letters and other documents, other than those provided at closing. $5.00
• Providing a new amortization schedule, other than the schedule provided at closing. $5.00
• Providing a payment history to the mortgagor, other than the current year and one year prior. $5.00
• Providing duplicate year-end statements $5.00

The Primary Residence Credit is a state property tax credit available to North Dakota homeowners through the North Dakota Office of State Tax Commissioner via an online application. Qualifying homeowners may receive up to $1,600 toward their property taxes.. 

You may qualify if:

• You own a home in North Dakota (house, mobile home, townhome, duplex, or condo).
• The home is your primary residence.
• The home is owned individually or through a trust.

There are no age or income restrictions, and only one credit per home is allowed.

• If approved, the credit may appear as a deduction on your 2025 property tax statement (mailed December 2025 from your county).
• Some counties will not show the PRC reduction on your bill. Instead, they bill the full amount and later send the credit directly to your mortgage company. 

View an example from Cass County that shows a deduction on a property tax statement. 

Applications for the Primary Residence Credit were submitted online at tax.nd.gov/prc during the annual application window from Jan. 1 - Apr. 1. 

No. The credit does not reduce special assessments – only property taxes.

NDHFA uses the amount billed by your county when completing your escrow analysis:

• If the county tax bill reflects the PRC, NDHFA will use the lower amount.
• If the county does not reduce the bill (because the credit will be refunded later), NDHFA must use the higher billed amount, as we do not receive advance notice of your approved credit.

Best practice for borrowers is to review their annual escrow analysis statement as soon as they receive it to ensure the tax amount shown matches their property tax billing statement.

In most cases, no.

Most counties bill NDHFA electronically, and we pay the amount billed. Because we do not review bills manually, it is important that homeowners review their own tax statements for accuracy.

Please contact your county tax office. NDHFA does not receive information about your PRC application status or approval.

Tax credits follow the owner, not the property. If the previous owner received a PRC, your county will determine whether any portion of that credit still applies to the tax statement after the transfer of ownership.

Review www.tax.nd.gov/prc or your county’s website for updates on when PRC applications open for the upcoming tax year.