Home Bank Loan North Dakota First-Time Homebuyer Applications

North Dakota First-Time Homebuyer Applications

North Dakota First-Time Homebuyer Applications


Get Pre-Approved for a Mortgage and Check Rates


NDHFA FirstHome Program

The North Dakota Housing Finance Agency (NDHFA) started the FirstHome Program providing mortgage loans to low- to moderate-income first-time homebuyers with the FirstHome Program.

Eligibility Requirements

  • Must be first-time homebuyers; those who have not owned a home (including a manufactured home) in the last three years.
  • Meet income limits (shown below) that vary based on county and family size.
  • Meet normal credit underwriting standards
  • Occupy the property as their principal residence
  • Make a minimum contribution of $500 from their own funds.

NDHFA HomeAccess program

NDHFA’s HomeAccess program isn’t solely for first-time homebuyers, but like the FirstHome program, it comes with low rates and down payment assistance. However, this program is geared toward specific groups:

  • A single parent with at least one dependent child who lives with the parent at least 50 percent of the time
  • An honorably discharged veteran (either the borrower or the borrower’s spouse)
  • A borrower either living with a permanent disability or who has a dependent or spouse living with a permanent disability who also lives with the borrower
  • A borrower aged 65 years or older, or who has a dependent or spouse aged 65 years or older who also lives with the borrower


NDHFA North Dakota Roots program

NDHFA’s North Dakota Roots loan program can be an option for first-time and repeat homebuyers whose incomes exceed the FirstHome program’s limits. The North Dakota Roots income limits vary by county.

NDHFA Targeted Area Loan

If you’re interested in buying a home in the following counties, you could also qualify for a low-interest rate Targeted Area Loan through NDHFA:

  • Benson County
  • McKenzie County
  • Rolette County
  • Sioux County


You don’t need to be a first-time homebuyer to take advantage of this loan, though you’ll need to meet income and purchase price limits. These limits are higher than the limits for the FirstHome and HomeAccess programs, and the purchase price is up to $346,315.

County Family of Less Than 3 Family of 3 or More
Benson, Rolette, Sioux $108,120 $126,140
McKenzie $118,320 $138,040


County Purchase Limit
Benson, McKenzie, Rolette, Sioux $381,308

National First-Time Homebuyer Loan Programs

  • FHA LoansFHA home loans are very popular with first-time homebuyers cause they require a 580 credit score with just a 3.5% down payment. Debt-to-income ratios up to 50% are allowed making them perfect for low-income borrowers.
  • Conventional LoansConventional loans require a 620 credit score and a 5% to 20% down payment. If you put 20% or more down, mortgage insurance will not be required.
  • USDA LoansUSDA mortgage loans are for low-to-median income borrowers buying a home located in a USDA-eligible rural area. They provide 100% financing with a 620 or higher credit score. Mortgage insurance is required but the rate is the lowest of any type of mortgage program available.
  • VA Loans – Veterans of the U.S. military may be eligible for a VA home loan. No down payment or mortgage insurance is required and veterans with a 580 to 620 credit score are eligible.
  • HomeReady and Home Possible Loans – Freddie Mac and Fannie Mae created the HomeReady and Home Possible loan programs for low-income first-time homebuyers whose income does not exceed 100% of the area median income requiring just a 3% down payment and a 620 credit score.


Helpful Resources


Statewide Programs

Eastern North Dakota

Western North Dakota

Tribal agencies

Getting Started

Buying a Home

Owning and Maintaining Your Home

Other North Dakota Resources



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