North Dakota Start Program Checklist
A comprehensive guide for applicants of the North Dakota Start Program in 2025.
Assess Your Eligibility
- Confirm that you qualify for one of NDHFA's first mortgage programs, such as FirstHome, HomeAccess, North Dakota Roots, Major Home Improvement, or Targeted Area loan.
- Ensure your annual household income does not exceed the program's limits, which vary based on family size and the property's location. 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.
- Verify that the property's purchase price is within the program's maximum acquisition cost for your area. As of July 1, 2023, the limit for a single-family home is $481,176.
- 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 cash assets toward the transaction.
Gather Necessary Documentation
- Collect 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.
Collaborate with Your Assigned Loan Officer
- A Loan Officer will be assigned to guide you through the North Dakota Start 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
- Work closely with your Loan Officer to fill out your application for the North Dakota Start 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.