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Rural Housing Development Loan Program
The Rural Housing Development loan program is intended to address the housing shortage that many rural North Dakota communities are experiencing. The program offers short-term financing to communities of less than 20,000 population as well as non-profit organizations working in partnership with such communities. For-profit developers may also be eligible, at the sole discretion of the North Dakota Housing Finance Agency, to facilitate development in difficult to develop rural communities.
Funds can be used for predevelopment soft costs, land acquisition, site development and any other cost associated with producing difficult to develop housing in rural areas. Financing is available for up to 75 percent of development costs, with a maximum loan of $200,000. If the loan purpose includes construction financing and there is no permanent loan take-out commitment, the maximum loan amount is 50 percent of project cost, again not to exceed $200,000. Whenever possible, the Agency will work with a local lender or nonprofit to originate the loan.
For more information on the Rural Housing Development loans, contact the Planning and Housing Development Division Director at (701) 328-8080 or (800) 292-8621.
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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
Disclaimer
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Equal Housing Opportunity 
