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Start Program An extra little boost may be just what first-time homebuyers need to be able to put down money on the starter home that they have been eyeing. The Start Program provides first-time buyers with affordable first mortgages and help with their out of pocket cash requirements.
The program assistance is equal to three percent of the Start first mortgage. The help is in the form of a credit to the borrowers at the time of loan closing.
Start assisted first mortgages have a slightly higher interest rate than FirstHome mortgages. The program cannot be used in conjunction with other downpayment assistance programs. The borrower must have a minimum of a $500 out of pocket investment. Both 30 and 40 year loan terms are available with the Start program.
Borrowers must meet the program’s income limits, which vary based on county and family size, and they should meet the normal credit underwriting standards. The purchase price of the property must be within program limits.
For more information on Start, contact a participating lender or NDHFA's Homeownership Division . |
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North Dakota Housing Finance Agency 2624 Vermont Avenue, PO Box 1535, Bismarck, ND 58502-1535 Bismarck Main Office -- (701) 328-8080 | ND Toll Free (800) 292-8621 | Fax (701) 328-8090 | TTY (800) 366-6888 Fargo Field Office -- (701) 239-7255 | ND Toll Free (877) 239-3200 | Fax (701) 239-7257 | TTY(800) 366-6888
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Equal Housing Opportunity 
