From the Executive Director, July 2024

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man in dark blue suit and tie

Every June, National Homeownership Month is observed. This month highlights the dream of owning a home – a symbol of stability and a pathway to building wealth for families. NDHFA’s homeownership programs coupled with down payment and closing cost assistance provide buyers with greater purchasing power so that even with rising interest rates, high home prices and a competitive market, homeownership is still very much within grasp.

This year, NDHFA has been able to provide nearly $5 million in down payment and closing cost assistance and interest rates for our flagship FirstHome™ program have been about 1.41% below the market rates. Year-to-date through June, FirstHome™ is up 300 loans over 2023 amounting to an increase of $76.5 million purchased loans.

NDHFA’s Roots program, which provides affordable financing to those who may have previously owned a home has also had a strong start to the year as we have financed nearly $22 million in loans. Our total loan servicing portfolio has grown 8 percent over 2023.

Our programs are just one piece of the puzzle, It’s the work of our staff and partners that truly drives our success and expands access to homeownership for those who may see it as unattainable. Our accounting and bond team manages our mortgage portfolio, enabling us to consistently offer below-market rates to our first-time homebuyers. Our origination and servicing team supports borrowers in becoming and remaining successful homeowners. Additionally, NDHFA’s network of lending and real estate partners helps promote our programs.

Thank you for your work and for making the dream of homeownership possible for over 50,000 households and counting!

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