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Rural Health Information Hub

North Dakota Construction Loan Guarantee

Link
View Program Website
Sponsor
North Dakota Housing Finance Agency
Deadlines
Applications accepted on an ongoing basis
Contact

701.328.8080
hfainfo@nd.gov

Purpose

Loans to lender for contractors who build or rehabilitate affordable single-family housing in rural communities on a speculative basis.

Eligibility

Communities located within an area meeting the USDA Rural Development definition of rural (population of less than 35,000) and be more than 10 miles from another community of 35,000 or more.

There must be a demonstrated need for affordable housing and the local government must support the construction.

The anticipated sale price of the homes must not exceed the currently published FHA mortgage limits.

Geographic coverage
North Dakota
Amount of funding

Construction loans provided by the lender may not exceed 85% of the lesser of the value of the housing unit or total cost or appraiser's as-completed Opinion of Value.

Application process

To begin the application process, download the Construction Loan Guarantee Program Guide and Forms, and contact the Planning and Housing Development Division at 701.328.8080.

Tagged as
Community and economic development · Housing and homelessness · North Dakota



For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.