North Dakota FirstHome Program Checklist
A comprehensive guide for applicants of the North Dakota FirstHome Program in 2025.
Determine Your Eligibility
- Verify that you have not owned a home as your primary residence within the last three years, including manufactured homes on permanent foundations.
- Ensure your household income is within the program's limits, which vary by county and family size. For example, as of June 1, 2024, income limits for a family of less than three range from $103,900 to $111,400, depending on the county. :contentReference[oaicite:0]{index=0}
- Confirm that the property's purchase price does not exceed the program's maximum acquisition cost for your area. As of July 1, 2023, the limit for a single-family home is $481,176. :contentReference[oaicite:1]{index=1}
- Plan to occupy the purchased property as your primary residence within 60 days of loan closing.
- Be prepared to contribute at least $500 from your own funds toward the transaction. :contentReference[oaicite:2]{index=2}
Collect Necessary Documentation
- Gather recent pay stubs, W-2 forms, or other proof of income.
- Obtain copies of your tax returns for the past two years, including all schedules.
- Compile bank statements from the last two to three months for all financial accounts.
- Prepare property details, including the address, purchase agreement, and sale price.
- Assemble any additional documents requested by your Loan Officer, such as verification of assets, debts, or liabilities.
Work with Your Assigned Loan Officer
- A Loan Officer will be assigned to guide you through the North Dakota FirstHome Program application process.
- Schedule an initial meeting or call with your Loan Officer to discuss eligibility requirements and outline the application steps.
- Clarify any questions regarding the program, required documentation, or the application process.
- Follow your Loan Officer's instructions to efficiently gather and submit all necessary documentation.
Complete Homebuyer Education
- Enroll in a homebuyer education course approved by the North Dakota Housing Finance Agency (NDHFA).
- Attend and complete the course prior to closing, as mandated by the program.
- Obtain a certificate of completion to include in your application package.
Submit Your Application
- Collaborate with your Loan Officer to fill out your application for the North Dakota FirstHome Program.
- Provide all required documents to confirm your eligibility for down payment and closing cost assistance.
- Review your application with your Loan Officer to ensure it is accurate and complete before submission.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to complete your participation in the program.
- Prepare for any expenses not covered by the program, such as additional closing fees or prepaid items.
- Receive confirmation of your enrollment and details on how the assistance will be applied to your home purchase.
Maintain Program Compliance
- Ensure the purchased property remains your primary residence for the duration specified by the program.
- Inform your Loan Officer promptly if you plan to sell, refinance, or make changes to your mortgage, as this could impact your program benefits.
- Stay updated on any changes to program requirements to maintain compliance and retain your assistance benefits.