Our Mortgage Programs
New Hampshire Housing's mortgage products offer the same great basic features:
New Hampshire Housing offers a number of different homeownership programs to help make homeownership more affordable. While the specific programs may have different income limits, in general, we serve borrowers with incomes up to $151,200.
Explore below for the specifics feature that make New Hampshire Housing's program unique.
Our Home Flex Plus (FHA, VA & RD) and Home Preferred Plus program provides cash assistance to help with your downpayment, and closing cost.
The Cash Assistance comes in the form of a second mortgage and forgiven in full after four years unless during the first four years, the borrower: 1) sells; 2) refinances; or 3) files for bankruptcy, in which case the borrower must repay the Cash Assistance.
Borrowers must be using one of NH Housing's first mortgage products to access the Cash Assistance second mortgage. Borrowers must also complete homebuyer education.
Program income limits:
- Home Flex Plus - incomes up to $151,200.
- Home Preferred Plus - serves borrowers with incomes up to 80% Area Median Income (AMI).
- Home Preferred Plus Over 80% AMI -Provides conventional financing for borrowers whose income exceeds 80% of the Area Median Income (AMI) as determined by Fannie Mae. Maximum income limit for all Home Preferred Over 80% AMI products is $151,200.
Contact a Participating Lender to learn more.
Our Home Preferred provides 97% LTV conventional mortgage financing with a low, discounted mortgage insurance options. As a result, Home Preferred is able to offer lower monthly payments when compared to other conventional or government-insured loans. Home Preferred mortgages are ideal for purchasers, or those seeking to refinance, who are seeking a low monthly payments with a reduced mortgage insurance premium.
This program serves borrowers with incomes up to 80% Area Median Income (AMI).
Contact a Participating Lender to learn more.
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, with as little as 3.5% down, to assist with repairs and upgrades. Our Purchase Rehab program is a government-insured mortgage option that can even be combined with our Home Flex Plus, providing you up to 3% in cash funds to help with your downpayment and closing costs.
Purchase Rehab can cover things 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 and rehabilitation loan.
This program serves borrowers with incomes up to $151,200.
Contact a Participating Lender to learn more.
The Homebuyer Tax Credit makes homeownership more affordable for first-time homebuyers. The Homebuyer Tax Credit can decrease the federal income taxes you owe, thereby boosting your take-home pay, which may help you qualify for a mortgage and make your mortgage 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. Contact a Participating Lender today to learn more.
See income and purchase price limits
To learn more about the Homebuyer Tax Credit, view the video.
Home Preferred Manufactured Housing ROCs provides homebuyers and current homeowners in qualified New Hampshire Resident-Owned Communities (ROCs) with affordable conventional financing options, including a low fixed rate, low downpayment, and low mortgage insurance options.
This program serves borrowers with qualifying income up to $151,200.
Currently in New Hampshire there are 15 ROCs that qualify for this program:
- Barrington Oaks Cooperative, Barrington, NH;
- Bayview Village Copperative, Inc, Dover, NH;
- Black Bear Village, North Conway, NH;
- Camp Sargent Road Cooperative, Inc., Merrimack, NH;
- Elm Brook Village Cooperative, Inc., Hopkinton, NH;
- Exeter-Hampton Cooperative, Inc., Exeter, NH;
- Granite Estates Cooperative, Inc.
- Jewel Estates Cooperative, Inc., Merrimack, NH;
- Lakes Region Mobile Home Park Cooperative, Belmont, NH;
- Lilac Drive Cooperative, Raymond, NH;
- Medvil Cooperative, Goffstown, NH;
- Otarnic Pond Cooperative, Inc. Hudson, NH;
- Pepperidge Woods Cooperative, Barrington, NH;
- Seacrest Cooperative, Seabrook; and
- View Point Cooperative, Swanzey, NH.
Learn more by contacting a Participating Lender!
Home First and Home First Plus is a Mortgage Revenue Bond program which provides a rate-advantaged mortgage and the option to add a fixed $10,000 in cash downpayment assistance. Home First follows MRB rules. An eligible borrower must:
- Be a first-time homebuyer (no ownership in the past 3 years) or buying in a targeted area.
- Meet income and purchase price limits for the town/city in which the property is located.
- Purchase a single family (1-4 unit), owner-occupied primary residence.
Contact a Participating Lender to learn more.