New Hampshire Housing offers eligible buyers mortgages with fixed down-payment and closing-cost assistance of $5,000, $10,000, or $15,000. Eligible first-generation homebuyers may qualify for an additional $10,000 through the limited-funding 1stGenHomeNH pilot. The assistance is not a grant: it is a non-forgivable second mortgage that must be repaid when a repayment trigger applies. Eligibility, rates, limits, and pilot funding depend on the specific program and transaction, so have an approved lender verify current terms before you make an offer or count on the funds.
What help is available?
New Hampshire Housing (NH Housing) offers bond-financed mortgage programs called First and First Plus. Eligible buyers may pair a mortgage with a fixed amount of assistance for down payment and closing costs. Buyers who meet separate first-generation criteria may also qualify for 1stGenHomeNH funding on top of the standard assistance.
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| Option | Potential assistance | What to know |
|---|---|---|
| First or First Plus | $5,000, $10,000, or $15,000 | Fixed assistance amounts described in NH Housing’s FY2026 program plan. Funds may be applied to down payment and closing costs and are structured as a non-forgivable second mortgage. |
| 1stGenHomeNH | An additional $10,000 for eligible first-generation homebuyers | A limited-funding pilot that requires NH Housing financing through an approved lender and face-to-face homebuyer education. NH Housing may suspend or end the pilot. |
The assistance amounts are not a promise that every buyer can choose any amount or combine options in a particular way. The lender must confirm which program and assistance amount fit the household, property, first mortgage, and current availability. Treat the mortgage-program terms and executed loan documents as controlling; the FY2026 plan describes the assistance structure, while transaction documents establish the borrower’s obligations.
Is the assistance a grant, and when must it be repaid?
No. NH Housing’s FY2026 program plan describes the down-payment and closing-cost assistance as a non-forgivable second mortgage. It does not gradually disappear simply because the buyer has made regular payments or lived in the home for a certain period. Repayment is due when a specified trigger occurs rather than through routine monthly amortization, subject to the loan documents.
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The FY2026 plan identifies selling the home, refinancing, or reaching the end of the 30-year loan term as repayment triggers. NH Housing’s current mortgage-program page also identifies bankruptcy and ceasing to occupy the property as a primary residence. Ask the lender to explain how each trigger applies to your proposed loan, and read the second-mortgage note and other closing documents before signing. Do not assume that keeping the first mortgage current, moving temporarily, refinancing into a different loan, or transferring ownership leaves the assistance unaffected; confirm the consequences for your circumstances in writing.
Who may qualify for First or First Plus?
“First-time buyer” is a program-specific test, not a label that automatically applies to every assistance program. For First and First Plus, NH Housing describes the test as having had no home ownership during the previous three years. The agency also lists exceptions for buyers purchasing in a targeted area and qualified veterans. A lender needs to determine which eligibility route applies to the borrower and transaction.
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The property must be an owner-occupied primary residence, and the first mortgage must use an eligible financing channel: FHA, VA, USDA Rural Development, or Fannie Mae conventional financing. Income and purchase-price limits apply, and they vary by program and location. Meeting the three-year test alone therefore does not establish eligibility: the household, property, mortgage type, and applicable limits all need to fit.
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1stGenHomeNH has a separate first-generation definition and criteria. It is not another name for the three-year ownership lookback used by First and First Plus. NH Housing’s current program page sets out conditions that can apply to borrowers, co-borrowers, and non-borrowing spouses. It also includes certain people who were in foster care and people who are refugees or have asylum granted by USCIS. The existence of these categories does not mean every person in them automatically qualifies; the current program criteria must be checked against the full household.
The purchase must be a New Hampshire primary residence with one to four units, financed through an NH Housing program and an approved lender. All borrowers must complete face-to-face homebuyer education through AHEAD, HOMEteam, or The Housing Partnership. Because this is a limited-funding pilot and NH Housing reserves the right to suspend or end it, verify availability and eligibility before relying on the additional $10,000 in a budget or purchase offer.
How much income can a household earn?
There is no single statewide income cutoff that settles eligibility across all NH Housing programs. NH Housing’s current mortgage-program page gives a general income ceiling of up to $184,500, but explicitly warns that some programs have lower income limits. Purchase-price limits also apply and can vary by program and location. The general ceiling is therefore a screening reference, not a guarantee that a household below it qualifies.
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NH Housing lists limit documents for reservations made on or after July 6, 2026. Since limits can depend on program, household, location, and reservation date, ask the approved lender to check the applicable current income and purchase-price limits for the exact transaction and reservation date. Do not rely on an older chart, a limit quoted for another county or household size, or an online estimate that does not identify the program and effective date.
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How to check eligibility and apply
- Identify the likely route. Tell an approved lender whether you may qualify under the three-year first-time-buyer test, the targeted-area or qualified-veteran exception, or the separate first-generation criteria. These routes are not interchangeable.
- Ask for a transaction-specific screening. Provide the household details the lender needs to check the relevant program, including all borrowers and any non-borrowing spouse where the program’s rules require consideration. Ask the lender to check current income and purchase-price limits for the property location, household, program, and reservation date.
- Confirm the mortgage and property fit. Verify that the proposed first mortgage uses an eligible FHA, VA, USDA Rural Development, or Fannie Mae conventional channel; that the property meets occupancy and property-type rules; and, for 1stGenHomeNH, that the one-to-four-unit and New Hampshire primary-residence requirements are met.
- Complete required education. NH Housing down-payment assistance requires homebuyer education. If seeking 1stGenHomeNH, confirm enrollment in a face-to-face course through AHEAD, HOMEteam, or The Housing Partnership, and ensure all borrowers complete it.
- Compare the full loan structure. Ask for the current rate and APR, the assistance amount, the first-mortgage payment, any mortgage-insurance cost, and the second-mortgage note. Request an explanation of repayment triggers and how a future sale, refinance, bankruptcy, or change in occupancy would affect the assistance.
- Reconfirm before relying on the offer. Have the lender verify current terms, limits, rates, and 1stGenHomeNH funding status for your reservation and closing timeline. Keep the program approval and signed loan documents; a general estimate or preliminary eligibility discussion is not the final loan obligation.
How to compare NH Housing with other mortgage options
NH Housing also describes conventional options with reduced mortgage insurance for certain borrowers whose income is below 80% of area median income, as well as low-down-payment conventional financing. These can be worth asking about alongside First and First Plus. They are not necessarily interchangeable with cash assistance, and the available details do not establish that every option can be combined with each other or with a particular first mortgage.
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Compare the following for the same property and household, rather than comparing a headline interest rate with an assistance amount in isolation:
- Cash needed at closing: Compare the required down payment and allowable assistance, along with closing costs and any funds the lender expects the buyer to bring.
- Mortgage insurance: Determine whether insurance is required, how much it costs, and whether a reduced-mortgage-insurance option applies to the household.
- Rate and APR: Request a current quote for each eligible option. NH Housing says its published rates and APRs use specified example assumptions and may change without notice, so a posted figure is not a guaranteed rate for an individual loan.
- Second-mortgage obligation: Compare the assistance amount with its non-forgivable repayment obligation and triggers. Cash available at closing is not the same as a grant.
- Eligibility and property restrictions: Check income and purchase-price limits, financing channel, occupancy, property type, geography, and any first-time or first-generation criteria that apply.
- Education and timing: Confirm the course requirement and whether the household can complete it before the lender’s deadlines, especially if seeking the first-generation pilot.
Have the lender provide the estimates on a consistent basis so the monthly cost, cash due at closing, assistance debt, and conditions can be considered together. A lower down payment or rate alone does not show which loan will cost less over the period you expect to own the home.
What to verify before counting the assistance
Program terms, interest rates, limits, and available pilot funding can change. NH Housing says its rates and APRs may change without notice, and the 1stGenHomeNH program is explicitly subject to limited funding and possible suspension or termination. The current mortgage-program page identifies a general income ceiling but notes that individual programs may have lower limits; the applicable limit documents are date-sensitive. Use a lender’s current transaction-specific determination rather than treating a figure on a general program page as a loan approval.
Before you make a purchase decision, get clear answers to these questions:
- Which NH Housing mortgage and assistance option is being reserved for this purchase?
- What exact eligibility route applies, and which household members are counted?
- What income and purchase-price limits apply to this household, location, program, and reservation date?
- Is 1stGenHomeNH funding available, and have all borrowers met its face-to-face education requirement?
- What amount will be documented as a second mortgage, and which events make it repayable?
- What rate, APR, mortgage-insurance cost, cash-to-close estimate, and loan conditions apply to this buyer now?
An optional workbook or general home-buying guide may help organize documents and questions, but it does not replace the homebuyer education course required for NH Housing down-payment assistance.
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