North Dakota FHA Loans
North Dakota FHA loans are home loans insured by the Federal Housing Administration which give North Dakota borrowers the opportunity to secure ND home loans, when they don’t quality for other conventional loans. Future North Dakota homeowners with little credit history or poor credit history are sometimes able to qualify for North Dakota FHA loans.
North Dakota FHA Loans for 1st Time Homeowners
ND FHA loans are ideal for first-time North Dakota homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing with FHA Loans
FHA also offers a refinancing option for North Dakota homeowners where it’s possible to refinance up to 97.5% of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85%.
Requirements in North Dakota
- No income limit
- North Dakota borrower credit score flexibility
- 3.5% down payment on North Dakota Purchase Loans
- Bankruptcy: ND FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: A North Dakota FHA loan can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
North Dakota (ND) FHA Loan Limits
FHA loan limits in North Dakota vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in North Dakota), etc. Please contact Home Point Financial’s North Dakota FHA loan experts for details on loan limits for FHA loans in North Dakota (ND).
Contact Home Point Financial to learn more about FHA Loans in North Dakota.
