Our Mortgage Programs
New Hampshire Housing's mortgage products offer the same great basic features:
Beyond these great features, see below for specifics about our two main mortgage products, Home Preferred and Home Flex, as well as our new Home Start Homebuyer Tax Credit Program.
It's easy to apply for a New Hampshire Housing mortgage! Simply contact one of our
participating lenders to find out how. To qualify for the program, borrowers must meet certain
income limits.
Home Preferred
Home Preferred has all of the benefits of both our main mortgage programs as well as the following:
- Private mortgage insurance
- Low monthly payments
Home Flex
Help with Downpayment and Closing Costs
Cash Assistance, available exclusively with our Home
Flex mortgage, is available to help homebuyers overcome the hurdle of saving for the large upfront costs necessary to get into homeownership.
The benefits of this program:
- Cash assistance at closing equal to 3% of the loan amount.
- There is no monthly payment on the cash assistance.
Please keep in mind:
- The money must be used for downpayment and closing costs and/or prepaid escrows.
- Repayment on the assistance is forgiven at 25% per year and completely forgiven by the end of year four.
Purchase/Rehabilitation Programs
Buying a fixer-upper? With our Home
Flex mortgage we can assist you with property renovation costs. New Hampshire Housing currently offers two rehabilitation loan programs:
Purchase/Rehab Program- Up to a $35,000 purchase rehabilitation loan insured by Rural Development.
FHA 203ks Program- Up to a $35,000 FHA 203ks rehabilitation option.
Program benefits:
- Rehabilitation funds are combined with our mortgage program financing and provided at our same great low rates.
- Both loan options allow for additional funds to assist with improvements to your property, as long as those improvements add value.
Voucher Assisted Mortgage Option
The Voucher Assisted Mortgage Option provides an opportunity for very-low income families to purchase a home and use a Housing Choice Voucher (Section 8) as a portion of their monthly mortgage payment.
This program is:
To participate in this program, you must:
- Contact your Rental Assistance Manager at 1-800-439-7247 for more information about the specific qualifications for this program.
Program benefit:
- Use a Housing Choice Voucher as part of your monthly mortgage payment.
Emergency Home Repair Loans
If you have a New Hampshire Housing first mortgage, then you may have access to our
Emergency Home Repair Loan (EHRL) program. To see if you qualify for an ERHL loan, please contact New Hampshire Housing directly at 1-800-649-0470 or
e-mail us.
Home Start Homebuyer Tax Credit Program
The Home Start Homebuyer Tax Credit makes homeownership more affordable for first-time homebuyers.
The Homebuyer Tax Credit is a direct dollar-for-dollar reduction in your federal taxes worth 10% to 50% of the interest you pay on your mortgage.
The Homebuyer Tax Credit may be combined with many of New Hampshire Housing's great mortgage programs. By combining the Homebuyer Tax Credit with one of New Hampshire Housing's mortgage programs, you can get the best we have to offer and make your new home even more affordable.For more information and to see if you may qualify for the Homebuyer Tax Credit, click here.
