North Dakota Housing Finance Agency

Housing Market Survey Grants

The Housing Market Survey Grant program offers a cost0sharing incentive to rural communities to develop a local housing strategy.  The program helps pay for an analysis of a community’s current and future housing needs.  The grants are equal to 50percent of the cost of a survey not to exceed $5,000 and are available for communities of less than 20,000 population.
Contact: Jolene Kline. 701-328-8080


Rural Housing Development Loans

The Rural Housing Development loan program offers short-term financing to communities of less than 20,000 population as well as non-profit organizations working in partnership with such communities.  For-profit developers may also be eligible, at the sole discretion of the North Dakota Housing Finance Agency, to facilitate development in difficult to develop rural communities.  Funds can be used for predevelopment soft costs, land acquisition, site development and any other cost associated with producing difficult to develop housing in rural areas.  Financing is available for up to 75 percent of development costs, with a maximum loan of $200,000.  If the loan purpose includes construction financing and there is no permanent loan take-out commitment, the maximum loan amount is 50 percent of project cost , again not to exceed $200,000.  Whenever possible, the agency will work with a local lender or nonprofit to originate the loan.
Contact: Jolene Kline. 701-328-8080


Construction Loan Guarantees

The Construction Loan Guarantee program provides loan guarantees to lenders on construction loans for affordable single-family housing in rural communities.  (Ineligible areas include communities with more that 5,000 population and areas within 10 miles of such communities.)  There must be a demonstrated need for additional affordable housing in a community, and the local governing body must support the construction.  NDHFA will accept a maximum of three active guarantees at one time form a contractor, and up to five guarantees active in one community.
Contact: Jolene Kline. 701-328-8080


Community Partners Program

Community Partners provides a financing incentive for first-time homebuyers purchasing homes through community or non-profit sponsored housing developments.  A developer must receive prior approval from the North Dakota Housing Finance Agency (NDHFA) to qualify their project for Community Partners.
Contact: Dave Flohr. 701-328-8080


FirstHome Program

The FirstHome Program provides low interest rate mortgages for first-time homebuyers in North Dakota.  Participating lenders originate the FirstHome loans and sell them to the North Dakota Housing Finance Agency (NDHFA).   The loans are either serviced by the participating lender or NDHFA.  FirstHome applicants must not have owned a home in the past three years (Exception – homes purchased in Targeted Areas).  Borrowers must meet the program’s income limits, which vary based on county and family size, and they should meet the normal credit underwriting standards.  The borrowers must intend to occupy the property as their principal residence.  The purchase price of the property must be within program limits.  Both 30 and 40 year loan terms are available with the FirstHome program.
Contact: Dave Flohr. 701-328-8080


HomeKey Program

With HomeKey, lower-income families and individuals are able to enhance their purchasing power by receiving a break on NDHFA’s already low mortgage interest rate.  During the first year of the loan’s amortization period, qualified borrowers receive an interest rate that is approximately one percent below the standard FirstHome rate.  The interest rate and monthly payments are stepped up twice during the next two years, holding constant for the remaining term of the mortgage.  Borrowers must meet the program’s income limits, which vary based on county and family size, and they should meet the normal credit underwriting standards.  The DCA Program or other NDHFA approved downpayment assistance programs can be used in conjunction with HomeKey.  NDHFA’s Start Program cannot be utilized.  Both 30 and 40 year loan terms are available with the HomeKey program.
Contact: Dave Flohr. 701-328-8080


Downpayment and Closing Cost Assistance Program

Zero interest, deferred payment loans available through the North Dakota Housing Fiance Agency’s (NDHFA) Downpayment and Closing Cost Assistance Program (DCA) aim to help lower income first-time homebuyers meet their out-of-pocket cash requirements.  THe homebuyer may be eligible to receive the greater of the three percent of the purchase price of the home or $3,000.  DCA homebuyers must be receiving their first mortgage loan from NDHFA, and have a minimum of a $500 out of pocket investment.  Borrowers must meet the program’s income limits, which vary based on county and family size, and they should meet the normal credit underwriting standards.  The purchase price of the property must be within program limits.
Contact: Dave Flohr. 701-328-8080


HomeAccess Program

The HomeAccess program provides low-interest mortgage loans to disabled, elderly, veteran and single-parent households who are not eligible for the FirstHome program due to ownership of a home in he prior three years.  HomeAccess can only be used for purchase transactions, refinancing of existing mortgages is not permitted.  Eligible households include those that have either a permanently disabled immediate family member or a family member age 65 or older.  Immediate family member is defined as being the mortgagor, mortgagor’s spouse, and any dependent(s) permanently residing he home.  Veteran is defined as someone who has served in the active military, naval or air service and has been discharged or released from active duty under conditions other than dishonorable.  Single-parent households with at least one dependent child residing in their home 50 percent of the time may be eligible.
Contact: Dave Flohr. 701-328-8080


Start Program

The Start Program provides first-time buyers with affordable first mortgages and help with their out of pocket cash requirements.  The program assistance is equal to three percent of the Start first mortgage.  The help is in the form of a credit to the borrowers at the time of loan closing.  Start assisted first mortgages have a slightly higher interest rate than FirstHome mortgages.  The program cannot be used in conjunction with other downpayment assistance programs.  The borrower must have a minimum of a $500 out of pocket investment.  Both 30 and 40 year loan terms are available with the Start program.
Contact: Dave Flohr. 701-328-8080


North Dakota Roots

North Dakota Roots provides new North Dakotans with either a below market interest rate loan or a market interest rate loan that includes down payment and closing costs assistance.  Home being purchased must be the first since moving to North Dakota.  These funds can only be used for purchase transactions.  No refinancing of existing mortgages.
Contact: Dave Flohr. 701-328-8080


Rehab Accessibility Program

The Rehab accessibility Program (RAP) grants help turn single or multifamily properties occupied by low-income people with physical disabilities into safe and comfortable homes adapted for their needs.  Funds can be used to build wheelchair ramps, install door levers, wak-in/roll-in showers and grab bars, and to widen doorways.  A maximum of $4,000 may be awarded with a limit of one grant per single or multi-family property in a fiscal year.  The grant match requirement is 25 percent.  To be eligible, households must earn 80 percent or less than the county median income adjusted for family size.
Contact: Nancy Rice. 701-328-8080


Rural Housing Rehab Loan

The Rural Housing Rehabilitation loan program provides a low-cost revolving loan fund for rehabilitation of single-family or multifamily properties located in communities of less than 20,000 population.  The maximum loan is limited to 75 percent cost and cannot exceed $25,000 for single-family or $100,000 for multifamily properties.  Single-family property owner’s household income may not exceed 100 percent of the area medium.  Whenever possible, the agency will work with a local lender or nonprofit to originate the loan.-
Contact: Jolene Kline. 701-328-8080


Low Income Housing Tax Credits

The Low Income Housing Tax Credit (housing Credits) program provides incentives for the production and rehabilitation of rental housing.  The program allows owners who invest in low-income housing, and accept income and rental restrictions, to receivefederal tax credits.  Under the program, owners of low income housing are entitled to receive an annual tax credit for up to 10 years based on various requirements such as the amount of capital invested and the level of commitment to low income tenancy.
Contact: Sylvia Burgess. 701-328-8080