Are you thinking of buying your first home in New Hampshire? Would you like a free gift of money to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of New Hampshire provides free grant money for its residents who are first time home buyers and need help with the down payment and closing costs (up to 3%). This money comes in the form of state grants. This is free money that shouldn’t be passed up! The grant awards can be in the thousands of dollars. It will be well worth your time to educate yourself about the grant programs that the State of New Hampshire provides.
New Hampshire Grants
The agency in New Hampshire that provides assistance to the home buyers is New Hampshire Housing. There is currently one excellent grant available, the Single Family Mortgage Program. You can receive a cash grant of up to 3% of the first mortgage amount. This is a free gift to you provided that you don’t sell your home within 48 months. To find out more about this grant, please visit the New Hampshire Housing website page specifically describing it. To make it easy for you, please go to this website.
Cash Assistance
This easy option to their Home Flex mortgage provides cash assistance equal to a maximum of 3% of the loan amount to help borrowers defray the cost of downpayment, closing costs, and prepaid escrow expenses associated with purchasing a home. Borrowers must contribute a minimum of 1% (based on purchase price) using their own funds (excluding gifts). No cash back is allowed at closing. Income, purchase price and all other guidelines follow the Home Flex mortgage. There is no monthly payment on the cash assistance portion.
The contact info for New Hampshire Housing is:
New Hampshire Housing
32 Constitution Drive
Bedford, NH 03110
Phone: 603-472-8623
Toll-free: 800-649-0470
Federal Grants
Besides the state programs, there are federal funds and grants available to the home buyers in New Hampshire through the Homes and Communities program of the United States Department of Housing and Urban Development. On their website you’ll find complete grant information, application forms, description of available funds, as well as many other helpful tools.
Every potential home buyer should investigate what they have to offer. You can visit the website by going here: US Dept. of Housing and Urban Development. Also, there is a website that has a complete list of all grant programs available through the United States Federal Government: Grants.gov. First time home buyers should plan to spend the required time investigating to determine how many individual grants they may qualify for. You can visit the website by going to Grants.gov and use their easy search form to find more information.
Other Grants in New Hampshire
In addition to the grant programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance and grants in every state. There are multiple grant programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what assistance is currently available. For your convenience, simply go to here.
Here is the contact information for the HUD office in New Hampshire:
Manchester Field Office
Norris Cotton Federal Building
275 Chestnut Street
4th Floor
Manchester, NH 03101-2487
Phone: (603) 666-7510
Fax: (603) 666-7667
There are also these local programs:
Portsmouth Home Town Program for First Time Home Buyers (603) 431-2006
