Buyer Financial Assistance Program Application

Amount

Up to a total of $15,000 per buyer for purchase of owner-occupied newly constructed single-family home.

Sales Price Limit

The final purchase price for the single-family residential property listed in the application must be no more than the current FHA Mortgage Limit, plus 10% ($576,647.50 as of 1/1/2025).

Who Can Apply? 

Any buyer of newly constructed homeowner-occupied single-family residential property located anywhere in Williams County.

Eligible Construction

Any newly constructed owner-occupied single-family residential property located anywhere in Williams County with a certificate of occupancy issued after April 15, 2025. In the case of modular or other off-site built homes (e.g. manufactured or mobile), the structure must have a manufacture date within one year of the application date.

Eligible Expenses

• Direct pay to bank or title company upon closing for buyer-owed closing costs, excluding mortgage insurance premiums, down payment, appraisal gap payment, or real estate commission/fees.
• Direct pay to bank or title company upon closing for interest buy down points.

Parameters

• Final purchase price must be at or below the current FHA mortgage limit for Williams County, plus 10% ($524,225 + 10% = $576,647.50 as of 1/1/2025).
• Purchase must be an arm’s length transaction, defined as “a transaction between a willing seller and a willing buyer, neither party being affiliated, both of whom are knowledgeable concerning all the uses to which it is adapted and for which it is capable of being used.”

Requirements

• The single-family residential property must be considered the buyer’s primary residence.
• Must be current on all real estate taxes in Williams County. Delinquent real estate taxes in other states must be disclosed at the time of application. Failure to disclose out-of-state delinquent real estate taxes may result in disqualification of the application.
• Must be using a North Dakota-based loan officer at a lending institution unless the buyer holds a VA Certificate of Eligibility (VA Form 26-1880). A pre-approval letter from the lending institution must be submitted with the application. If application is accepted, funds will be reserved for the buyer. If the sale is successful, funds will be provided directly to the lending institution or the title company, as indicated in the application, by the closing date.
• Must meet all mortgage requirements of buyer’s lending institution. Williams County does not dictate stipulations of the mortgage.
• Single-family residential property that is being purchased with owner financing are not eligible for the buyer assistance program.
• Expenses already incurred prior to submission and approval of application are not eligible for reimbursement.