Understanding Our Mortgage Programs

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

To qualify for any of the following programs, your income must be at or below $128,900. 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 3% 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.

Low or No Private Mortgage Insurance Options (Home Preferred and Home Preferred No MI)
Our exclusive Home Preferred line offers conventional mortgages with discounted or no-mortgage insurance options. They may offer lower monthly payments when compared to other conventional or government-insured loans. These mortgages are ideal for borrowers who are seeking a low monthly payment and have some funds for downpayment and closing costs.  Borrowers must be creditworthy and may be required to complete homebuyer education.

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.