First-Time Home Buyer Programs in New Hampshire

New Hampshire Housing Finance Authority (NHHFA) Programs:

Home Flex:

Eligibility: Targets first-time homebuyers (no homeownership in the past three years) and repeat buyers statewide.
Offerings: Provides a 30-year fixed-rate mortgage (FHA, VA, USDA, or conventional) with competitive rates; can be paired with down payment assistance.
Requirements:

• Income must not exceed $145,000 (statewide limit as of 2025).
• Minimum credit score of 620 (varies by loan type).
• Debt-to-income ratio capped at 45% (50% with compensating factors).
• Homebuyer education course required for first-time buyers.
• Purchase price limit of $510,400 (non-targeted areas) or $623,600 (targeted areas).

Cash Assistance Program:

Benefits: Offers up to $10,000 as a 0% interest second loan (repayable over 10 years) for down payment and closing costs; available with Home Flex or Home Preferred loans.
Eligibility: Must use an NHHFA first mortgage; income and purchase price limits apply (same as Home Flex).

Home Preferred Plus:

Description: Provides a 30-year fixed-rate mortgage with up to 4% of the loan amount as a non-repayable grant for down payment and closing costs; targets low- to moderate-income first-time buyers.
Requirements: Income capped at 80% AMI (e.g., $82,600 for a family of four in Rockingham County); must pair with a Home Preferred mortgage; credit score of 640.

Local Programs:

Manchester

Manchester Homebuyer Assistance: Offers up to $15,000 as a deferred loan (0% interest, due upon sale or refinance) for first-time buyers; income must be at or below 80% AMI (e.g., $77,350 for a family of four).

Nashua

Nashua Down Payment Assistance: Provides up to $12,000 as a forgivable loan (forgiven after 10 years) for down payment and closing costs; income capped at 80% AMI; targets revitalization areas.

Concord

Concord First-Time Homebuyer Program: Offers up to $10,000 as a 0% interest deferred loan (repayable upon sale) for down payment and closing costs; income must be below 80% AMI.

Additional Information:

• Mortgage Credit Certificate (MCC): Provides a federal tax credit of up to 20% of annual mortgage interest (max $2,000 yearly) for first-time buyers; fee applies; combinable with NHHFA loans.
• FHA Loans: Minimum 3.5% down payment, suitable for credit scores as low as 580 (10% if below 580).
• USDA Loans: Zero-down payment for rural New Hampshire areas; income limits apply.
• VA Loans: Zero-down payment for eligible veterans or active military.