North Dakota HomeAccess Program Guide

Guide to the North Dakota HomeAccess Program

The North Dakota HomeAccess Program provides financial assistance and affordable mortgage options to help eligible homebuyers with disabilities or special needs achieve homeownership. Designed to address unique housing challenges, the program offers down payment and closing cost assistance, making the process of buying a home more accessible. Below is a detailed guide to the program’s benefits, eligibility requirements, and how to apply for 2025.

1. Program Overview:

• Purpose: The HomeAccess Program aims to assist individuals with disabilities, households with disabled members, or caregivers buying a home for someone with special needs by providing financial assistance and affordable financing options.
• Down Payment and Closing Cost Assistance: Eligible buyers receive funds to help cover upfront costs, reducing financial barriers to homeownership.
• Specialized Support: The program is tailored to address the unique housing needs of individuals and families with disabilities.

2. Eligibility Requirements for 2025:

To qualify for the North Dakota HomeAccess Program, applicants must meet the following criteria:

• Special Needs Requirement: Applicants must be individuals with disabilities, households that include a person with a disability, or caregivers purchasing a home for someone with special needs.
• Income Limits: Household income must fall within program limits, which vary based on location and household size. These limits are updated annually to reflect area median income (AMI).
• Primary Residence: The home must be located in North Dakota and used as the buyer’s primary residence. Investment properties and vacation homes are not eligible.
• Purchase Price Limits: The home’s purchase price must not exceed program-specific limits, which are adjusted annually based on local housing costs.
• Credit Requirements: A satisfactory credit score is required, with specific thresholds determined by the lender.
• Homebuyer Education: Completion of a homebuyer education course is mandatory to ensure buyers are well-prepared for the responsibilities of homeownership.

3. How to Apply:

The application process for the North Dakota HomeAccess Program involves the following steps:

• Contact a Participating Lender: Begin by reaching out to an approved lender offering this program. They will verify your eligibility and guide you through the application process.
• Submit Required Documentation: Provide proof of income, credit history, a certificate from the required homebuyer education course, and documentation supporting the special needs eligibility.
• Complete the Application: Work with your lender to complete and submit the application along with all necessary documents for review and approval.

4. Program Benefits:

• Financial Assistance: The program provides funds to cover down payment and closing costs, reducing the financial burden of purchasing a home.
• Affordable Mortgages: Participants benefit from competitive fixed-rate mortgage options, ensuring stable and predictable monthly payments.
• Support for Special Needs: Tailored specifically for individuals with disabilities and their families, the program addresses unique challenges in accessing housing.

5. Assistance Details:

• Assistance Amount: Eligible buyers can receive financial support based on their specific needs and program guidelines. Assistance typically covers a percentage of the home’s purchase price or a set dollar amount for down payment and closing costs.
• Repayment Terms: Assistance is often provided as a forgivable loan, with repayment not required if the buyer occupies the home as their primary residence for a designated period.

6. Additional Considerations:

• Combination with Other Programs: The HomeAccess Program can often be combined with other state or federal assistance programs to maximize benefits for eligible buyers.
• Program Fees: Some fees may apply during the application process, which your lender will explain in detail.

The North Dakota HomeAccess Program is an excellent resource for individuals and families with special needs looking to achieve homeownership in 2025. By offering financial assistance and affordable mortgage options, the program helps reduce barriers to owning a home. Contact a participating lender today to learn more and start your application process.