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FirstHome program eligibility limits increase

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The North Dakota Industrial Commission has approved increased eligibility limits for a state program that helps first-time buyers purchase a home.

The FirstHome program administered by the North Dakota Housing Finance Agency provides low-cost financing as well as down payment and closing cost assistance to income-qualified households. More than 50,000 people and families have used the program over the past four decades, according to the commission, which oversees the Housing Finance Agency.

The commission recently set the acquisition cost limit at $349,525 for a single-family home. Higher limits were approved for existing two- to four-unit properties. The commission set the maximum income limits for the program at $96,800 to $128,685. The income limits vary depending on household size and the county in which a financed home is purchased.

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