North Dakota Down Payment Assistance

North Dakota is well known for agriculture and geography! However, rising real estate prices can make home ownership in North Dakota difficult. Luckily, local and national programs exist that offer down payment assistance and grants to qualified applicants. The North Dakota Housing Finance Agency is one organization that offers such programs.

If you're thinking about purchasing a home in North Dakota, you may have options to help with the down payment or closing costs. Read below to learn more about any program and see if it can help with your home purchase!

NDHFA Downpayment and Closing Cost Assistance Program

The North Dakota Housing Finance Agency allows qualified applicants to access down payment and closing cost assistance. A minimum of $3,000 (but as much as 3% of the house’s purchase price) is offered as a 0% loan with deferred payments.

In order to apply, you must be a first-time homebuyer. You must also have your first mortgage through NDHFA and be able to put down a minimum of $500 towards the purchase from your own funds.

Applicants should also be creditworthy and fall within defined income limits. Homebuyer education must be completed prior to the loan being closed.

Only primary residences are allowed, and the property must be within a defined purchase price limit. The property cannot be in a 100-year floodplain.

Start Program

The Start Program was founded by the North Dakota Housing Finance Agency as a way to assist eligible individuals with down payments and closing costs.

The Start Program can be used with one of NDHFA’s mortgages, which include FirstHome, HomeAccess, North Dakota Roots, Major Home Improvement, or Targeted Area loan.

As much as 3% of the purchase price of the house is offered as a credit to the borrower.

In order to qualify, applicants have to fall within a certain annual household income, which depends on location and household size. Applicants must also be able to put down at least $500 from their own funds towards the purchase.

All properties purchased using this program must fall within limits and be the applicant’s primary residence.

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