New Hampshire Housing Finance Authority
1. What is my first step to purchase a home of my own?
As with any large financial decision, education should always be your first step. There are a number of non-profit housing agencies that provide free home ownership education.
2. How much house can I afford?
You can use our mortgage calculators to estimate how much house you can afford.
3. How do I apply for a New Hampshire Housing loan?
In order to qualify to use New Hampshire Housing funds, your lender will ask you four key questions:
What is your income?
What is the purchase price of the home you wish to buy?
Are you a first-time home buyer?
Will it be your primary residence?
What is your income? In order to qualify for a New Hampshire Housing loan, your income must be below certain limits based on where the property is located.
What is the purchase price of the home you wish to buy? In order to use New Hampshire Housing for your loan, the purchase price of the home you want to buy must be under certain purchase price limits based on where the property is located.
See Below for limits.
County/City/Town
1-2
3+
1-Unit
2-Unit
3- and 4-Unit
(Household Size)
Belknap
Laconia
$93,100
$108,600
$289,000
$346,500
$385,000
All Other Communities
$77,600
$89,200
$237,000
$284,000
$316,000
Carroll
All Communities
$77,600
$89,200
$236,000
$283,000
$315,000
Cheshire
All Communities
$77,600
$89,200
$236,000
$283,000
$315,000
Coos
Berlin, Lancaster, Whitefield
$93,100
$108,600
$289,000
$346,500
$385,000
All Other Communities
$77,600
$89,200
$236,000
$283,000
$315,000
Grafton
Littleton
$93,100
$108,600
$289,000
$346,500
$385,000
All Other Communities
$77,600
$89,200
$237,000
$284,000
$316,000
Hillsborough
Goffstown, Manchester
$93,100
$108,600
$347,500
$417,000
$464,000
All Other Communities
$77,600
$89,200
$299,500
$359,000
$399,500
Merrimack
Concord, Pittsfield
$93,100
$108,600
$305,000
$346,500
$385,000
All Other Communities
$77,600
$89,200
$249,000
$284,000
$316,000
Rockingham
Newmarket, Portsmouth
$93,100
$108,600
$347,500
$417,000
$464,000
All Other Communities
$77,600
$89,200
$299,500
$359,000
$399,500
Strafford
Dover, Rochester, Somersworth
$93,100
$108,600
$347,500
$417,000
$464,000
All Other Communities
$77,600
$89,200
$299,500
$359,000
$399,500
Sullivan
Claremont
$93,100
$108,600
$289,000
$346,500
$385,000
All Other Communities
$77,600
$89,200
$236,000
$283,000
$315,000
Are you a first-time home buyer? With the exception of 15 targeted communities, you must be a first-time home buyer to qualify for a New Hampshire Housing loan. New Hampshire Housing defines first-time home buyer as anyone who has not owned a house in the past three years.
Targeted communities: In the 15 targeted communities you do not have to be a first-time home buyer. View the list of the 15 targeted communities.
Will it be your primary residence? The property must be your primary residence. New Hampshire Housing’s single family home ownership program will not finance investor owned properties.
4. I have heard that New Hampshire Housing loan is subject to a Recapture Tax. What is this all about?
Because of how New Hampshire Housing gets it’s money, you may have to pay a recapture tax if you sell your house within the first nine years of home ownership. Go to an explanation of Recapture Tax and how it can affect you.
5. What is mortgage insurance and will I have it on my New Hampshire Housing loan?
Mortgage Insurance (MI) is an insurance borrowers purchase to protect the lender in case of default. Unless you put 20% down on your mortgage you will need mortgage insurance. New Hampshire Housing has two ways of providing mortgage insurance, monthly or financed.
