Explore two unique programs offering up to $10,000 in grants or deferred loans with 0% interest to help first-time homebuyers cover down payments and closing costs in New Hampshire.
Verify Your New Hampshire Down Payment Assistance Eligibility
The City of Nashua’s Homebuyer Assistance Program helps low- to moderate-income first-time homebuyers by providing up to $10,000 in conditional grants.
These funds can be used for down payments, closing costs, interest rate buy-downs, and more.
To qualify, applicants must purchase a home within Nashua and meet income eligibility requirements. Completion of a HUD-certified homebuyer education workshop is required.
The Portsmouth HomeTown Program offers financial assistance to first-time homebuyers through deferred loans with 0% interest.
These loans help with down payments and closing costs, and are secured by a second mortgage.
The program is open to residents and employees of Portsmouth who meet income and residency requirements. Additional assistance may be available depending on household income.
Both programs offer a range of benefits to help first-time buyers make the leap into homeownership.
Financial assistance for down payments and closing costs.
Available for first-time homebuyers.
Up to $10,000 in assistance through a conditional grant funded by HUD’s HOME Program, for homes within Nashua city limits.
Deferred loan options with 0% interest, with additional 0% interest loan due upon sale, for homes within Portsmouth city limits.
To benefit from these programs, applicants must meet the following requirements.
Must be a first-time homebuyer.
Completion of a HUD-certified homebuyer education course.
Documentation of income and assets is required.
Income must not exceed 80% or 120% of the area median income (AMI), depending on the program.
Must purchase a home within the city limits.
Must be a current or former resident of the city, or a full-time city employee.
These programs feature flexible loan terms designed to support buyers as they transition into homeownership.
The City of Nashua’s Homebuyer Assistance Program provides a conditional grant of up to $10,000, subject to HUD’s homeownership value limits. This grant may be applied to down payments, closing costs, or interest rate buy-downs.
The grant is provided under the condition that the recipient maintains ownership and occupancy of the home for a specified period.
In the event that the property is sold or transferred within five years, the grant may be subject to repayment. The property must remain the primary residence of the recipient for the duration of the affordability period.
The Portsmouth HomeTown Program offers deferred loan assistance at a 0% interest rate for down payments and closing costs.
This loan is secured by a second mortgage on the property. The loan will not require repayment for a period of 10 years unless the home is sold or transferred.
Additionally, a second 0% interest loan may be provided, due upon the sale or transfer of the home. The recipient must maintain the home as their primary residence throughout the loan term to avoid default.
Both programs are available to first-time homebuyers who meet specific income and residency requirements.
Both programs offer financial assistance for down payments and closing costs, either as grants or deferred loans with 0% interest.
In one program, assistance is provided as a conditional grant, while the other offers deferred loans that may not need to be repaid unless the property is sold or transferred.
Yes, the maximum assistance available ranges from $10,000 in one program to higher amounts in the other, depending on income and eligibility.
Eligible properties include single-family homes, townhouses, and condos located within the respective city limits.
Yes, income must fall below a certain percentage of the area median income (AMI) for both programs, with varying limits based on the specific city.
Yes, both programs require applicants to complete a HUD-certified homebuyer education course.
No, both programs are specifically for first-time homebuyers, defined as individuals who have not owned a home in the past three years.
Depending on the program, you may be required to repay the assistance if you sell or transfer the property within a specified timeframe.
With decades of experience in the residential financing industry, our team has facilitated billions of dollars in home loans, helping countless individuals achieve the dream of homeownership.
Our local expertise ensures that we understand the unique challenges and opportunities of the New Hampshire market, allowing us to provide personalized guidance tailored to your specific needs.
Whether you're buying in Nashua or Portsmouth, you can trust our proven track record and dedicated service to make your homebuying journey as smooth and stress-free as possible.
