Secondary Market

BND will purchase qualifying first mortgage FHA, VA, USDA and Conventional loans from an approved originating lender.

The property must be an owner-occupied principal residence and be located in North Dakota or select areas in western Minnesota.

Purchase, rate/term refinance or cash out refinancing

Applicable FHA, VA, USDA or Fannie Mae maximum

Maximum Loan-to-Value (LTV):  FHA, VA, or USDA agency maximum; Conventional maximum is 97% with approved PMI

Combined Loan-to-Value (CLTV): FHA, VA, or USDA agency maximum; Conventional maximum is 97%

Applicable FHA, VA, USDA or Fannie Mae credit standards/requirements must be met.

First mortgage on subject property

Must meet applicable FHA, VA, USDA or Fannie Mae standards/requirements.

Loan terms may be 10, 15, 20, 25 or 30 years.

If BND is servicing your loan, you can sign up for automatic payments.

Residential Authorization for Automatic Account Transfers (PDF)

BND offers this loan by partnering with local lenders. To apply, contact your lender.

To become an approved lender please contact BND at 328.5759 or 1.800.482.2166 ext 328-5759.

If you have any questions, contact us.