Resilient Homebuyer Program

Resilient Homebuyer ProgramMinot households whose homes were damaged by the 2011 Souris River Flood or whose homes are being bought out for flood protection may be eligible for a new homeownership incentive.

North Dakota Housing Finance Agency has partnered with the City of Minot, through the National Disaster Resilience Program, to offer affordable home loans and up to $60,000 in purchase assistance to impacted households.

The Resilient Homebuyer Program can be used to buy either an existing home or a newly constructed home within city limits that is outside the 100-year floodplain and within a resilient neighborhood.

Mortgage loan applications are made through NDHFA participating lenders who have the ability to prequalify borrowers and estimate the maximum incentive amount available to a household. The buyers’ household income cannot exceed program limits, $44,050 to $83,050, and the purchase price of the home must be $253,809 or less to qualify. A real estate agent can be enlisted to find a program-eligible property.

To learn more or determine eligibility, buyers need to contact CDM Smith, manager of the City of Minot’s disaster recovery office, (701) 837-5813.

Lenders can find additional information about the program online in NDHFA’s Participating Lender Dashboard under Selling Guide and Loan Forms.

NDHFA is a self-supporting state agency dedicated to making housing affordable for all North Dakotans. The Industrial Commission of North Dakota, consisting of Governor Doug Burgum as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s