Complete information regarding first time home buyer programs available to residents, including program amounts, links to applications, and contact info.

1. 2015 First Time Home Buyer Programs for North Dakota
Major Home Improvement Program
Major Home Improvement Program provides reduced rate loans for purchase and rehab and refinance and
rehabilitate homes. All of the other typical qualifiers apply. Qualified buyers in North Dakota may apply.
VA Loan
Great fixed rate programs for veteran buyers or active duty military personnel in Army, Navy, Marine Corps, Air
Force, Coast Guard, and National Guard (Military Reserve are eligible with 6 years of service) with no money down
or down payment required or private mortgage insurance. There is a 620 minimum credit score.
USDA Rural Development Loan
The USDA Rural Development Loan is a zero down loan, meaning you can finance the entire price of the property.
The biggest stipulation is that the property must be located in targeted rural area. Credit score minimum is 620.
Seller can pay 6% of purchase price toward buyers closing closing costs.
Start Program
Start Program aids borrowers with 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 down payment
assistance programs. Qualified buyers in North Dakota may apply.
North Dakota Roots Program
Specific to moderate income North Dakotans, the Roots program offers borrower’s two options: Either an
exceptionally low interest rate loan, or a market rate loan that is coupled with down payment and closing cost
assistance. This is not a first time homebuyer program. Borrowers are required to put in at least $500 of their own
cash. Qualified buyers in North Dakota may apply.
HomeSmart Program
If you utilize the FirstHome Program, North Dakota’s HomeSmart Program will provide a $100 grant that may be
used for closing costs or other expenses. Qualified buyers in North Dakota may apply.
HomeKey Program
HomeKey offers a reduction of about 1 percent for the first year of a valid loan. Over the next two years, the
interest rate and monthly payments will increase twice, and then remain fixed for the remainder of the loan’s life.
Qualified buyers in North Dakota may apply.
HomeAccess Program
The HomeAccess Program provides low rate mortgage loans to single parents, veterans, the disable and/or the
elderly. The program is not exclusive to first time homebuyers, rather is focused on families that may be
overcoming hardships. Qualified buyers in North Dakota may apply.
FirstHome Program
First time homebuyers can qualify for reduced interest rates if they meet income and property limits and can
qualify under normal credit underwriting requirements. The borrower is on the hook for a $500 out of pocket cash
investment to solidify the loan. Qualified buyers in North Dakota may apply.

2. Down Payment and Closing Cost Assistance Program
Down Payment and Closing Cost Assistance Program helps borrowers by providing zero interest, deferred payment
loans to help with the down payment and closing costs. DCA cannot be used with other down payment assistance
programs, but can be paired with a purchase program. Income and purchase price limits apply, and borrowers
must put at least $500 towards the transaction. Qualified buyers in North Dakota may apply.
FHA Loan
The FHA Loan has a low down payment of 3.5%. There is a minimum credit score of 580 and the entire down
payment can be a gift, or from state assistance programs or grants. Lastly sellers can pay 6% of purchase price
toward buyers closing.
To apply visit http://buyerprograms.net/North-Dakota