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 95% 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 15 or 30 years.
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.