New Hampshire First-Time Home Buyer Programs of 2020

What you need to know

A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. Unlike FHA loans, Read More

What you need to know

This is the go-to program for many first-time home buyers with lower credit scores. The Federal Housing Administration allows down payments as low as 3.5% for those with credit scores of 580 or higher. The FHA will insure loans for borrowers with scores as low as 500 but requires a 10% down payment Read More

What you need to know

The U.S. Department of Veterans Affairs helps service members, veterans and surviving spouses buy homes. VA loans are especially generous, providing competitive interest rates, often requiring no down payment or mortgage insurance. Although there is no official minimum credit score, most Read More

What you need to know

A USDA home loan is a zero-down-payment mortgage for eligible rural and suburban home buyers. USDA loans are issued by the U.S. Department of Agriculture through the USDA Rural Development Guaranteed Housing Loan Program. There are income limitations, which vary by region. Applicants with credit Read More

What you need to know

The program provides down payment and closing cost assistance for up to 3% of the loan amount for an FHA, USDA or VA mortgage. The help comes in the form of a second mortgage, which is forgiven after four years if the borrower doesn’t refinance, file for bankruptcy or sell the home.

What you need to know

This conventional mortgage requires a down payment as low as 3% with discounted mortgage insurance. The program also provides down payment and closing cost assistance for up to 3% of the loan amount. The cash is provided through a loan that’s forgiven after four years as long as the borrower doesn’t Read More

What you need to know

Designed for fixer-uppers, this government-insured loan lets you add $35,000 to the purchase mortgage to help with repairs and upgrades. The mortgage can be combined with down payment and closing cost assistance from New Hampshire Housing.

What you need to know

The program provides an annual tax credit for a portion of the mortgage interest up to $2,000. You must apply for the tax credit during the loan process; if you qualify, it decreases the federal income taxes you would owe while in your home, effectively increasing your take-home pay on your mortgage Read More

What you need to know

Created for buyers and current homeowners in qualified New Hampshire Resident-Owned Communities, or ROCs, this program provides conventional mortgages with low fixed rates, low down payment requirements and low-priced mortgage insurance options.