Owning your own home and establishing roots in a community are very much a part of the American dream.  The North Dakota Housing Finance Agency (NDHFA) is pleased to be able to help new and returning North Dakotans achieve their American Dream through our North Dakota Roots Program.  North Dakota Roots provides new North Dakotans with either a below market interest rate loan or a market interest rate loan that includes down payment and closing costs assistance.

Home being purchased must be the first since moving to North Dakota.  These funds can only be used for purchase transactions.  No refinancing of existing mortgages.

Eligibility Criteria 

• Borrower must have lived outside of North Dakota for the 12-month period prior to establishing residency in the state.
• One household member must work at least 20 hours a week.
• Borrowers must sign a purchase agreement or contract to build a home within 365 days of their employment date in North Dakota. 
• The North Dakota Roots income limits are set at 140 percent of statewide median.
• A minimum $500 borrower contribution is required.
• Borrower must meet standard credit underwriting criteria.
• The program is not restricted to first-time buyers. However, if a borrower qualifies for NDHFA’s FirstHome or HomeAccess programs, they are not eligible for North Dakota Roots financing.
• The maximum loan amount must comply with the current Fannie Mae/Freddie Mac conforming loan amount or the limits of the applicable loan insurer/guarantor.

Loan Product Options

The standard North Dakota Roots program provides a 30-year first mortgage below the market interest rate .

The North Dakota Roots Start 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.  The North Dakota Roots Start interest rate is set at the current market interest rate.