NH Housing Home First
Making Homeownership Happen
There's a first time and a right time. This time it's both.
With the Home First and Home First Plus Programs, homebuyers benefit from a low fixed-rate loan and $10,000 in cash assistance for downpayment and closing costs. This time it's a win-win.
New Hampshire Housing Rates*
*APR = Annual Percentage Rates and interest rates are based on current pricing and are subject to change at any time without notice.
DPA = Down Payment Assistance
AMI = Area Median Income
Mortgage insurance may be required depending on loan guidelines (Below 80% AMI limit, 700 FICO, 18% mortgage insurance coverage. Over 80% to 140% AMI limit, 31% mortgage insurance coverage.). If mortgage insurance is required, the mortgage insurance premium could increase the APR, interest rate and the monthly mortgage payment.
*APR = Annual Percentage Rates and interest rates are based on current pricing and are subject to change at any time without notice.
DPA = Down Payment Assistance
AMI = Area Median Income
Mortgage insurance may be required depending on loan guidelines (Below 80% AMI limit, 700 FICO, 18% mortgage insurance coverage. Over 80% to 140% AMI limit, 31% mortgage insurance coverage.). If mortgage insurance is required, the mortgage insurance premium could increase the APR, interest rate and the monthly mortgage payment.
Requirements
- Must be a first time homebuyer (no ownership in the past 3 years) or buying in a targeted area.
- Must meet income and purchase price limits for the town in which the property is located.
- $10,000 cash assistance is a 5-year forgivable second mortgage at zero percent interest.
- Purchasing a single-family home (1-4 unit).
- Must be an owner-occupied primary residence.
Contact us for more information!
Available on both government insured and conventional programs. Minimum FICO of 620 required. Homebuyer education required for first time homebuyers and those using downpayment cash assistance. Cannot be combined with the Homebuyer Tax Credit Program. May be subject to a Recapture Tax if home is sold within the first 9 years, there is home appreciation and the borrower exceeds certain income limits.
Testimonials
FAQs
How are interest rates determined?
Interest rates are influenced by the financial markets and can change daily – or multiple times within the same day. The changes are based on many different economic indicators in the financial markets.
How much do I need for a down payment?
There are many different programs available to you. Our conventional mortgage loan programs require a minimum of 5% down with closing costs and pre-paid items. We also offer programs for eligible applications to pay only 3% down. Schedule an appointment with us for more information.
What are closing costs, and how much will they be?
Closing costs will vary by state, property type, and credit. Included in the cost are taxes and government fees, legal services, fees to the lender for processing, and other fees. The borrower must also pay for certain pre-paid items such as daily interest and homeowner’s insurance.
What is the difference between pre-qualification and pre-approval?
Mortgage loan borrowers apply for pre-qualification while they are searching for a home. Pre-qualification allows you and sellers to estimate how much you can afford.