Minot Resilient Homebuyer Program

Is your home being acquired for the Minot flood control project?

Did you live in a home or apartment that was significantly damaged during the 2011 flood?

If you answered yes to either of these questions and you’re looking to purchase a home in the City of Minot, the Resilient Homebuyer Program could be an option for you, and we can help.

About the Resilient Homebuyer Program

Qualified buyers may be eligible for up to $60,000 to help them purchase a home. This assistance is available through the North Dakota Housing Finance Agency (NDHFA) to eligible low and moderate-income (LMI) homebuyers for the purchase of an existing resale home or a newly constructed home in what the City of Minot has qualified as “resilient neighborhoods.” In short, these are neighborhoods outside the new FEMA 100-year flood plain and within the boundaries of the City of Minot. The actual incentive amount each homebuyer receives is based on multiple factors and will be determined during the application process.

Income Qualifications for Low and Moderate Income Homebuyers:

*Limits effective as of April 1, 2020 provided by NDHFA

The Steps to Purchase

1. Program Qualification

To determine if you qualify for this Resilient Homebuyer Program, residents need to contact the Minot Disaster Recovery Office managed by CDM Smith to fill out a homebuyer profile. You can contact their office between 9 a.m. and 4 p.m. Monday-Friday by phone at 701-837-5813 or by email at SmallT@cdmsmith.com.

2. Contact Your Lender & Apply

After you fill out the homebuyer profile and CDM Smith determines that you qualify for the program, contact us at 701-420-6737 for an initial meeting. Our trained mortgage lenders will walk you through the Resilient Homebuyer Application, including any required income documentation, and work through the rest of the qualification process.

3. Complete a Homebuyer Education Course

Anyone looking to take advantage of this program must also complete a NDHFA-approved Homebuyer Education Course which can be found at https://www.ehomeamerica.org/ndhfa.

4. Find Your New Home

There are specific qualifications for the types of homes you can purchase with this program such as a purchase price of less than $294,600, meeting HUD Housing Quality Standards (HQS), and meeting energy-efficiency requirements. To help ensure you are looking at homes that qualify, it is recommended that you work with a licensed real estate agent.

5. Finalize your purchase through the program and close!

Once you have a fully executed Purchase Contract, our lenders will work with the Disaster Recovery Office to complete the process to ensure the home qualifies, finalize your mortgage with NDHFA, determine final incentive amounts and, finally, schedule your closing date!

More Information

For more information on the incentive program and the qualifications for participants, visit https://www.ndhfa.org/index.php/homeownership-programs/.

Speak with a Town & Country mortgage expert or to apply online.

Rates and loan approval are dependent on credit and underwriting factors. Terms, conditions and restrictions may apply and are subject to change.