Understanding Our Mortgage Programs

New Hampshire Housing offers a variety of mortgage programs designed to help homebuyers become successful homeowners.  

All programs feature low downpayment requires, 30-year fixed rates, and no hidden fees.

Funds for Downpayment and Closing Costs (Home Flex Plus and Home Preferred Plus)
Our Home Flex Plus program (FHA, VA and RD) and Home Preferred Plus (Conventional), offer up to 4% of the loan amount in cash funds for downpayment and closing costs. The Cash Assistance comes in the form of a second mortgage which is forgiven in full after four years,provided there is no repayment event.  The Home Flex Plus can even be combined with our Purchase and Rehabilitation Programs (see below). Borrowers must be creditworthy and complete homebuyer education, either online or face-to-face.

Program income limits:

  • Home Flex Plus - incomes up to $137,400.
  • Home Preferred Plus - This program 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 $137,400. 

Purchase and Rehabilitation Programs
Buying a fixer-upper. Our Purchase Rehab mortgage allows you to combine up to a $35,000 purchase rehabilitation loan into your mortgage financing at the same low rate. It is only available on government-insured mortgages. It 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, and it can be combined with our cash for downpayment and closing costs.  Borrowers must complete our online Purchase Rehab training.

This program serves borrowers with incomes up to $137,400.