Targeted Area Loan

Targeted Area Loan is a first mortgage for homebuyers in Cass and Sioux (specific census tracts) County, North Dakota, administered by North Dakota Housing Finance Agency (NDHFA). NDHFA sets aside tax-exempt mortgage revenue bond proceeds for reduced-interest-rate mortgages in federally designated Targeted Areas of North Dakota. First-time homebuyer status is NOT required in Targeted Areas. DPA can be added via DCA or Start. Reduced interest rate first mortgage in targeted census tracts; first-time-buyer requirement waived; can be paired with DCA or Start.

Targeted Area Loan is a first mortgage and is repaid under the terms set by North Dakota Housing Finance Agency (NDHFA). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Targeted Area Loan is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required. Targeted-area exact income/purchase limits not separately captured; interest rate not published.

Targeted Area Loan sets its income limit as follows: Subject to NDHFA Targeted Area income and purchase price limits. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Targeted Area Loan caps the purchase price at $481,176.

Targeted Area Loan names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native homebuyers, educators, law enforcement officers, firefighters, healthcare workers, homebuyers with disabilities, and first-generation homebuyers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Targeted Area Loan serves homebuyers purchasing in Cass and Sioux (specific census tracts) County, North Dakota. The program targets specific areas: Cass tracts 0005.02, 0006.01, 0006.02, 0101.06, 0101.07, 0101.11; Sioux tract 9409.

Applications for Targeted Area Loan go through North Dakota Housing Finance Agency (NDHFA), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.