Mortgage Programs

New Hampshire Housing makes homeownership more affordable with mortgages that offer great benefits that include:

  • Downpayment and closing cost help
  • 30-year fixed rates
  • Low or no downpayment requirements
  • Reduced mortgage insurance options
  • No hidden fees
  • Financing for single family homes, condos, manufactured housing and 1-4 unit owner occupied homes
  • Convenient homebuyer education classes
  • Mortgage refinancing for those who already own a home

While specific programs may have different income limits, in general we serve incomes up to $167,800. Explore all our programs below!

Learn more about our mortgage programs

Downpayment and Closing Cost Help

Our mortgage programs provide cash assistance to help with your downpayment and closing costs. 

Our most popular downpayment assistance program provides up to $10,000 to be used towards downpayment and closing costs.

The cash assistance comes in the form of a second mortgage and is forgiven in full after five years unless, within those first five years, you: 1) sell; 2) refinance; or 3) file for bankruptcy.

Program income limits:

To take advantage of this program, you must complete our homebuyer education.

Contact an Approved Lender

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Below Market Interest Rates

Home First and Home First Plus is a Bond financed program that provides a rate-advantaged mortgage and the option to add a fixed $5,000 or $10,000 in cash downpayment assistance.  An eligible borrower must: 

  • Use a mortgage insured by either the Federal Housing Administration (FHA), Veterans Administration (VA), USDA RD or Fannie Mae (Conventional).
  • Be a first-time homebuyer (no ownership in the past 3 years) or buying in a targeted area, or be a qualified veteran.  
  • Meet income and purchase price limits for the town/city in which the property is located. 
  • Be owner-occupied and a primary residence. 

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1st Generation Homebuyer (1stGenHomeNH)

For 1st Generation Homebuyers, The Path To Homeownership Just Got $10,000 Easier!

A first-generation homebuyer is defined as:

  • A borrower and co-borrower (if applicable) that do not currently, nor have previously, owned a home;

  • The borrower’s and co-borrower’s (if applicable) parent(s)/legal guardian(s) do not currently, nor have they previously, owned a home in the homebuyer’s lifetime;

  • A non-borrowing spouse (if applicable) does not currently, nor has previously, owned a home.

Additionally, a person meeting the following criteria also qualifies as a “first-generation homebuyer” - The borrower or co-borrower (if applicable) was in foster care or legally resides in the United States as a refugee or under asylum status granted by USCIS.

1st Generation Homebuyer Requirements

To take advantage of 1stGenHomeNH program you must be:

Contact an Approved Lender

There is limited funding for this pilot program initiative. New Hampshire Housing reserves the right to suspend or terminate the initiative at any time.


Reduced Mortgage Insurance Options

Our Home Preferred program provides low down payment (as little as 3% downpayment) conventional mortgage financing with a reduced, discounted mortgage insurance option for borrowers under 80% Area median Income (AMI)  This program can be used to finance manufactured homes is Resident Owned Communities (ROCs).  Click here to find a ROC near you.

Maximum income for this program is up to 80% Area Median Income.

Contact an Approved Lender

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Low Downpayment Conventional Mortgage

A conventional mortgage is a mortgage that is not backed by a Government agency.  Borrowers only need to put 3% down (5% for multifamily (2-4 Units)).  The maximum income limit for our Home Preferred program is $167,800.

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Rehabilitation Mortgage Program

If you're buying a fixer-upper, New Hampshire Housing offers a Purchase Rehab mortgage program that allows you to add up to a $35,000 to your purchase mortgage to assist with repairs and upgrades. Our Purchase Rehab program is a government-insured mortgage option that can even be combined with our downpayment assistance programs to help with your downpayment and closing costs.

Purchase Rehab can cover improvements like cosmetic repairs and upgrades, energy-efficiency improvements, safety improvements, and other repairs that add value to the property (please note: no structural repairs are allowed under this program). Benefits of this program include a one-time closing on your mortgage loan.

Maximum income for this program is up to $167,800.

Contact an Approved Lender

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Homebuyer Tax Credit

If you’re a first-time homebuyer, the Homebuyer Tax Credit makes homeownership more affordable. It can decrease the federal income taxes you owe by up to $2,000, thereby boosting your take-home pay, which may help you qualify for a mortgage and make your payments. The Homebuyer Tax Credit is not a one-time credit—it is an annual credit for the life of the original mortgage, as long as you live in the home.

Unfortunately the Homebuyer Tax Credit is not available with all NH Housing mortgage Programs.  Contact an approved lender to learn more.

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