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.