North Dakota Housing finance: A Comprehensive Guide
The North Dakota Housing Finance Agency (NDHFA) is a state agency dedicated to making housing affordable for all North Dakotans. They offer a variety of programs and services to help individuals and families find safe, affordable housing, whether it’s through homeownership or renting.
Homeownership Programs
NDHFA offers several programs to help individuals and families become homeowners. These programs provide affordable financing options, down payment assistance, and counseling services.
FirstHome Program
The FirstHome program is designed for first-time homebuyers or those who haven’t owned a home in the past three years. It offers low-interest mortgage loans and down payment assistance.
HomeAccess Program
The HomeAccess program is for individuals and families with disabilities. It offers low-interest mortgage loans and accessibility modifications.
North Dakota Roots Program
The North Dakota Roots program is for individuals and families who don’t qualify for the FirstHome or HomeAccess programs due to income limits. It offers low-interest mortgage loans and down payment assistance.
Down Payment Assistance
NDHFA offers down payment assistance to help individuals and families cover the upfront costs of buying a home. This assistance is available in the form of a zero-interest, deferred payment loan.
Closing Cost Assistance
NDHFA also offers closing cost assistance to help individuals and families cover the costs associated with closing on a mortgage loan.
Homebuyer Education
NDHFA offers homebuyer education courses to help individuals and families make informed decisions about buying a home. These courses cover topics such as budgeting, credit, and the home buying process.
Rental Assistance Programs
NDHFA also offers programs to help individuals and families find affordable rental housing. These programs include rental assistance, supportive housing, and housing development programs.
Rental Assistance
NDHFA administers the Section 8 Housing Choice Voucher Program, which provides rental assistance to low-income individuals and families. This program allows participants to choose their own housing and receive a subsidy to help pay for rent.
Supportive Housing
NDHFA supports the development of supportive housing, which provides housing and supportive services to individuals and families with special needs.
Housing Development Programs
NDHFA provides financing for the development of affordable rental housing through various programs, including the Low Income Housing Tax Credit program.
Additional Resources
In addition to its core programs, NDHFA also offers a variety of resources to help individuals and families find and maintain affordable housing. These resources include:
A directory of affordable housing units in North Dakota
How to Apply
To apply for NDHFA programs, individuals and families should contact a participating lender. Lenders will help applicants determine which programs they are eligible for and guide them through the application process.
Contact Information
North Dakota Housing Finance Agency
2624 Vermont Ave.
Bismarck, ND 58504
Phone: 701-328-8088
Toll Free: 800-292-8590
Website: [https://www.ndhfa.org/](https://www.ndhfa.org/)
Conclusion
The North Dakota Housing Finance Agency is a valuable resource for individuals and families seeking affordable housing in North Dakota. With a variety of programs and services, NDHFA is working to ensure that all North Dakotans have access to safe, affordable housing.