Down Payment and Closing Cost Assistance Program This North Dakota down payment program helps North Dakota borrowers by providing zero interest, deferred payment loans to help with the North Dakota down payment and closing costs. DCA cannot be used with other North Dakota down payment assistance programs, but can be paired with a purchase program. Income and purchase price limits apply, and North Dakota borrowers must put at least $500 towards the transaction.
North Dakota
Roots Program
Roots Program Specific to moderate income North Dakotans, the Roots program offers North Dakota borrowers two options: Either an exceptionally low interest rate loan, or a market rate loan that is coupled with North Dakota down payment and closing cost assistance. This is not a first time home buyer program. North Dakota borrowers are required to put in at least $500 of their own cash.
Start Program
Start Program This North Dakota down payment program aids North Dakota borrowers with North Dakota down payment and closing costs. The assistance comes in the form of a credit equal to 3 percent of the first mortgage. The credit standards, income, and purchase price limits are all the same for the FirstHome and the Start Programs. Start cannot be used in conjunction with other North Dakota down payment assistance programs.
North Dakota Housing Finance Agency
North Dakota Housing Finance Agency
2624 Vermont Ave
Bismarck, ND 58502
PHONE: (701) 328-8080
WEBSITE: http://www.ndhfa.org
North Dakota Housing Authority
The North Dakota Housing Authority offers down payment assistance programs to local residents. To see what kind of North Dakota down payment programs are offered by North Dakota Housing Authority, visit their website: www.ndhfa.org.
Grand Forks Housing Authority
The Grand Forks Housing Authority offers down payment assistance programs to local residents. To see what kind of North Dakota down payment programs are offered by Grand Forks Housing Authority, visit their website: www.grandforkshousingauthority.org.
Burleigh County Housing Authority
The Burleigh County Housing Authority offers down payment assistance programs to local residents. To see what kind of North Dakota down payment programs are offered by Burleigh County Housing Authority, visit their website: www.burleighcountyhousing.com.
Minot Housing Authority
The Minot Housing Authority offers down payment assistance programs to local residents. To see what kind of North Dakota down payment programs are offered by Minot Housing Authority, visit their website: www.minothousing.com.
North Dakota Down Payment Assistance Programs
One of the toughest parts about buying a home is coming up with a down payment. Fortunately, if you are a future homeowner in North Dakota, there are North Dakota down payment assistance programs that make it much easier.
Most down payment assistance programs in the state of North Dakota are for first-time home owners. North Dakota down payment assistance programs defines a first-time owner as someone who has not owned a property in the last three years. However, even if you have owned a property within the last three years, you may still qualify for down payment assistance.
North Dakota has different programs for down payment assistance broken down according to state, city, county and also a charity program. Each program has approximately $10,000 available. There are also government subsidized programs and charitable organizations in the State of North Dakota that offer down payment assistance. Both of these work in compliance with the United States Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA). Some charitable organizations only have to comply with HUD and not FHA in order to give cash gifts to eligible home buyers.
Some programs that are specifically designed for first-time homeowners in North Dakota include:
USDA 100% financing program – Offers a zero down payment with a credit score of at least 640. The property must be located in an eligible area and some income guidelines apply.
FHA program – Offers a low down payment with a credit score of at least 620
Good Neighbor Next Door – Offers 50% discount to those who work in law enforcement or who are teachers, emergency responders, health care professionals or military personnel.
VA Loan – Offers zero down payment for active military personnel or veterans.
PMI Buster – Offers a low down payment with a minimum credit score of 720.
These are just some of the North Dakota down payment assistance programs available.
Below is a list of North Dakota Down Payment Assistance Programs: