Down Payment Path

Down Payment Assistance Programs in New Hampshire

New Hampshire provides several down payment assistance programs to help homebuyers overcome the financial challenges of purchasing a home. These initiatives are available to both first-time and repeat buyers, making homeownership more accessible across the Granite State.

Home Flex Plus Program

The Home Flex Plus Program, offered by New Hampshire Housing, provides financial support to cover down payments and closing costs.

  • Offers up to 4% of the loan amount as assistance.
  • Available as a forgivable second mortgage after a set period of residency.
  • Pairs with FHA, VA, USDA, and conventional loans.
  • Open to eligible buyers meeting income and purchase price requirements.

Home Preferred Plus Program

The Home Preferred Plus Program provides additional benefits for buyers seeking affordable mortgage options.

  • Offers down payment assistance of up to 3% of the loan amount.
  • Pairs with conventional loans and features reduced private mortgage insurance costs.
  • Designed for buyers meeting income guidelines, with broader eligibility in targeted areas.

USDA Rural Development Loans

For buyers in rural New Hampshire, the USDA Rural Development Loan provides financing with no down payment requirement.

  • Open to low- and moderate-income buyers in USDA-eligible rural areas.
  • Flexible credit requirements and competitive interest rates.
  • Can be combined with state programs to cover closing costs.

Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate (MCC) program provides tax benefits to reduce the overall cost of homeownership.

  • Allows buyers to claim a federal tax credit for a portion of their mortgage interest paid annually.
  • Can be paired with New Hampshire Housing mortgage products and down payment assistance programs.
  • Income and purchase price limits apply, but the program accommodates a wide range of buyers.

Local Assistance Programs

Several cities and towns in New Hampshire offer additional support for homebuyers through grants or low-interest loans for down payments and closing costs.

  • Programs in areas like Manchester, Nashua, and Concord often provide targeted benefits for buyers in revitalization neighborhoods or specific professions, such as educators and public service workers.
  • Eligibility criteria and funding levels vary by location.
  • Local programs can often be combined with statewide assistance for greater support.

New Hampshire’s down payment assistance programs are designed to make homeownership more affordable by reducing upfront costs. Whether you’re purchasing your first home or upgrading, these resources can help you achieve your dream of owning a home in the Granite State.