Buying
First-time home buyer programs in New Hampshire: a 2026 guide
If you're renting on the Seacoast and wondering whether owning is realistic, start here. These are the programs that make the first purchase easier in New Hampshire.
Most renters I talk to on the Seacoast assume they need 20% down to buy. You usually don't. Between federal loan programs and New Hampshire's own housing finance agency, there are several ways to get into a first home with a much smaller check at closing.
FHA loans: 3.5% down
An FHA loan is a mortgage insured by the Federal Housing Administration. Buyers with a credit score of 580 or higher can put down as little as 3.5%, while scores from 500 to 579 require at least 10% down, according to Bankrate. On a $400,000 home, that 3.5% works out to $14,000.
A few things to know:
- FHA loans are for a primary residence you'll live in, not a second home or pure investment.
- Many lenders set their own minimum score above FHA's floor, often 620, as PenFed notes.
- FHA loans carry mortgage insurance: an upfront premium of 1.75% of the loan plus an annual premium paid monthly, per AmeriSave.
- FHA can finance a duplex, triplex or fourplex if you live in one unit. See my house hacking guide.
NH Housing down payment and closing cost help
New Hampshire Housing (the state's housing finance authority) offers mortgage programs with an option for up to $15,000 in cash assistance toward your down payment and closing costs. That assistance is a second mortgage at 0% interest with no monthly payments and a 30-year term. It comes due if you sell, refinance, stop living in the home or reach 30 years, according to NH Housing.
Its bond-financed Home First programs offer a below-market rate with a fixed $5,000, $10,000 or $15,000 in cash assistance. To qualify you generally need to be a first-time buyer (no ownership in the past three years) or buying in a targeted area, meet income and purchase price limits for the town, and live in the home, per NH Housing. Homebuyer education is required.
1stGenHomeNH: up to $10,000 for first-generation buyers
If neither you nor your parents or legal guardians have owned a home during your lifetime, you may qualify for an additional $10,000 through 1stGenHomeNH. It can be combined with other NH Housing assistance and works on 1–4 unit primary residences, per the program's fact sheet. You'll need to complete in-person homebuyer education (at least six hours) through AHEAD, HOMEteam or The Housing Partnership, and funding is limited and first-come, first-served.
Low down payment conventional loans
NH Housing also offers conventional loans with just 3% down (5% for 2–4 units). Its Home Preferred program has a maximum income limit of $184,500, according to NH Housing.
Buying in Portsmouth? Look at Home Town
Portsmouth runs its own first-time buyer program, Home Town, funded by the Portsmouth Housing Endowment Trust Fund and administered with Citizens Bank. It can include low-interest first mortgage financing and 0% down payment and closing cost help. You generally need to have lived in Portsmouth for at least two years (or meet the other residency or city-employee rules) and meet income limits; the maximum for a family of four is listed at $169,080, per the City of Portsmouth.
Your next three steps
- Talk to a lender first. A pre-approval tells you your real budget and which programs fit. If you want a recommendation for an NH Housing approved lender, ask me.
- Sign up for homebuyer education early. Several programs require it, and classes fill up.
- Tell me about your plans. We'll map out neighborhoods, property types and a realistic timeline.
Program details, limits and availability change. Confirm current terms with NH Housing or an approved lender before you rely on them.
Frequently asked questions
How much do I need to put down on an FHA loan in New Hampshire?
FHA loans allow as little as 3.5% down for buyers with a 580+ credit score, and 10% down for scores from 500 to 579. Many lenders set higher minimum credit scores.
Does New Hampshire offer down payment assistance?
Yes. NH Housing mortgage programs offer an option for up to $15,000 in down payment and closing cost help as a 0% interest second mortgage with no monthly payments, due when you sell, refinance or move out.
What is 1stGenHomeNH?
1stGenHomeNH provides up to $10,000 in down payment assistance for first-generation homebuyers who finance through an NH Housing mortgage program and complete in-person homebuyer education.
