North Dakota Housing Finance Agency

Targeted Area Loans

Targeted Areas in North Dakota are those that meet federal guidelines as economically distressed and are subject to special consideration by the North Dakota Housing Finance Agency (NDHFA). The Internal Revenue Code (Code) requires that NDHFA and other issuers of tax-exempt mortgage revenue bonds set aside, for up to one year, a portion of the proceeds of a bond issue (herein “Targeted Area Proceeds”) for loans in Targeted Areas.

Someone receiving a Targeted Area Loan does not have to be a first-time homebuyer. However, the interest rates, the income and acquisition limits, and all other requirements of the FirstHome Program in effect at the time of the purchase do still apply.

Targeted Area Proceeds are available on a first-come, first-serve basis to any mortgagor purchasing a home in any of North Dakota's Targeted Areas. The proceeds are available through, the earlier of, the expiration of the one year set aside period or until the funds are fully utilized.

Targeted Areas*

County
Census Tract or Block Numbering Area (Link to Map)

Grand Forks     CT 0103

Mercer BNA 9403

Sioux    BNA 9401 and BNA 9402

Ward   BNA 9403

To discover if a home is in a Targeted Area, you can search for a Census Tract/BNA by address. Type in the address of a property, click on the go button, and the corresponding census tract or BNA will appear on the next page. That number must match one of the tract numbers listed above.

To view the location of North Dakota's Targeted Areas, visit the Census Tract/BNA website . Enter the corresponding tract or BNA information from the above table and click on the “Map It” button to see the boundaries of the corresponding tract or BNA.

Please be sure to contact the Homeownership Division to verify property qualification and fund availability before pursuing a Targeted Area Loan.

*NDHFA periodically places a public notice of the availability of set aside funds in the official newspaper for the county in which each Targeted Area is located. Lenders who receive an inquiry from a homebuyer purchasing a home in a Targeted Area should contact the agency to determine the availability of funds before proceeding with an application. If proceeds are available, the lender will be informed of the interest rate and authorized to proceed with the application.

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

Equal Housing Opportunity