The fall of 2023 marks a historic number for North Dakota Housing Finance Agency (NDHFA) as the number of FirstHome™ loans purchased reaches 50,000.
“It is humbling to realize that thousands of men, women, and children have had the opportunity to enjoy the comforts of home thanks, in part, to the FirstHome program,” said Brandon Dettlaff, NDHFA’s homeownership director.
Homes from 363 communities across North Dakota have been financed through NDHFA’s FirstHome program, which provides affordable mortgage loans along with down payment and closing cost assistance to low- to moderate-income households. Mortgage loans originate through private-sector lenders and are sold to NDHFA after closing.
North Dakotans are building equity through homeownership and are creating a more stable financial future for themselves, their families, and their communities. Homeownership leads to community investment through various economic impacts such as support for local schools, parks, libraries, roads, police and fire departments, and emergency medical services.
“Enabling residents to purchase affordable housing contributes to significant economic impacts, including increases in local purchasing power and job creation, not to mention the incredibly positive impact this has on the individuals and families able to purchase and maintain their own home,” said Dave Flohr, NDHFA executive director.
NDHFA is a self-supporting and mission-driven state agency dedicated to making housing affordable for all North Dakotans. The North Dakota Industrial Commission, consisting of Governor Doug Burgum as chairman, Agriculture Commissioner Doug Goehring and Attorney General Drew H. Wrigley, oversees the agency.