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Frequently Asked Questions

How do I get a loan from NDHFA?
To have NDHFA finance a mortgage loan, potential borrowers should apply through a lender that originates mortgage loans on the agency’s behalf. The lender handles the loan application and all the work it takes to originate and close a mortgage loan. The lender then sells the mortgage loan to NDHFA.

What are NDHFA’s interest rates?
Interest rates can change daily. NDHFA’s current interest rates can be found here.

Does NDHFA have down payment assistance and/or closing cost assistance?
Yes, NDHFA offers down payment and closing cost assistance to qualified borrowers through either the Start program or the DCA program.

Are there income limits?
Yes, NDHFA’s programs do have income limits that vary depending on family size and the location of the home purchased.

What kind of credit score do I need to have?
Every situation is different. If you have questions about your credit score and your ability to get a loan, contact one of NDHFA’s participating lenders.

What happens to my loan once it is sold to NDHFA?
You will make your monthly mortgage payments directly to the local lender or NDHFA.

Will I have to pay Recapture Tax if I get an NDHFA loan?

Most borrowers will not pay any Recapture Tax. If they do, NDHFA will reimburse the borrower if the home was purchased after October 1, 2006. Learn More about Recapture Taxes.