Construction Loan Guarantees are now available in North Dakota communities with a population of up to 35,000. North Dakota Housing Finance Agency’s (NDHFA) loan guarantees were previously limited to communities of 5,000 or less.
“Communities across North Dakota are growing and with that growth the need for affordable housing is greater than ever,” said Jennifer Henderson, director of planning and housing development. “By making this change, NDHFA’s Construction Loan Guarantee program will be able to support more rural housing development.”
NDHFA will provide the guarantees to lenders for contractors who build or rehab affordable single-family housing on a speculative basis for resale. Evidence of community support and need for the housing is required.
To learn more about NDHFA’s Construction Loan Guarantee program or other development assistance provided by the agency, contact the Planning and Housing Development Division.