Doug Goehring, Agriculture Commissioner | North Dakota Industrial Commission
Doug Goehring, Agriculture Commissioner | North Dakota Industrial Commission
The North Dakota Industrial Commission has updated eligibility limits for state programs designed to assist residents, primarily first-time homebuyers, with purchasing homes. These programs, managed by the North Dakota Housing Finance Agency (NDHFA), offer low-cost financing and assistance with down payments and closing costs.
“North Dakota Housing Finance Agency has helped more than 54,000 households achieve homeownership,” stated members of the commission in a joint statement. “The support has enabled individuals and families to put down roots, which, in turn, has strengthened their local communities.” The commission includes Gov. Kelly Armstrong as chairman, Agriculture Commissioner Doug Goehring, and Attorney General Drew H. Wrigley.
Through NDHFA’s FirstHome program, buyers with low to moderate incomes who have not owned a home in the past three years can receive purchase assistance. The HomeAccess program offers similar support to special needs households that may have previously owned a home.
The commission approved maximum income limits for these programs ranging from $93,500 to $110,000. Acquisition cost limits remain at $481,176 for single-family homes with higher limits for existing two- to four-unit properties. Program limits vary based on household size and the county where the financed home is located.
The U.S. Department of Housing and Urban Development regulates income limits while acquisition cost limits are governed by the Internal Revenue Service.
“NDHFA’s below-market interest rates coupled with down payment and closing cost assistance provide a much-needed boost,” said Dave Flohr, NDHFA executive director. “With the support of our private-sector partners, NDHFA helped 4,124 individuals and families purchase a home last year.”
In 2024, NDHFA purchased an average FirstHome loan valued just under $240,000 with an average borrower household income of $74,758.
Private-sector lenders originate loans on behalf of NDHFA before selling them to the agency upon closure. Those interested in learning more about these programs can find information online at www.ndhfa.org or by contacting participating lenders.
NDHFA operates as a self-supporting state agency committed to making housing affordable for all residents of North Dakota.
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