Current NDHFA Programs
The North Dakota Housing Finance Agency is a public financial institution dedicated to making housing affordable for all North Dakotans. The Agency facilitates affordable mortgage financing, assures the continued availability of low-income rental housing, and seeks to provide for the state’s changing housing needs. The Industrial Commission of North Dakota, consisting of the Governor, Attorney General and Agriculture Commissioner, oversees the Agency with advice from a six-member citizen advisory board.
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North Dakota Housing First-time Homebuyer Programs NDFHA BOND -
WHO IS ELIGIBLE:
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| INCOME LIMITS: | Family size Less than 3 | Family size 3 or more |
| Start and Standard | $69,400 | $79,800 |
| Home Key Program | $34,700 | $39,905 |
| PRICE LIMITS: | New & Existing = Up To $237,000 | |
| RATES: | 30 year and 40 year terms available Subject to change daily. | |
| Down Payment Assistance Programs | |
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START PROGRAM: |
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| 1 unit properties only |
Must not have owned a home in the past 3 years |
| Assistance amount: | 3% of Loan Amount can be used toward down payment, closing costs and pre-paids |
| Income limits: | Same as bond |
| Borrower contributions: | $500 out of pocket expense |
| Acquisition Limits: | Same as NDHFA BOND. Only single unit properties |
| Repayment: |
Gift- no repayment |
| Start Assisted first
mortgages have a slightly higher rate |
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DCA (Downpayment and Closing Cost Assistance ) |
| 1 unit proerties only | Must not have owned a home in the past 3 years |
| Assistance amount: |
Greater of 3% of purchase price or $3,000 |
| Income limits: | Family
size: 1-$38.200 2-$43,650 3-$49,100 4-$54,550 , 5-$58,900 6-$63,300 7-$67,650 8- $72,000 |
| Borrower contributions: | $500 out of pocket expense |
| Acquisition Limits: | New and Existing: $200,160 |
