Down Payment Assistance Programs for First Time Home Buyers in Merrimack County, New Hampshire
If you live in New Hampshire and are interested in buying a home in Merrimack County – there may be down payment assistance programs available to you. Saving enough money for a down payment is one of the single biggest obstacles to homeownership – but it is entirely possible that down payment assistance is available to you and you aren’t even aware of it.
What is Down Payment Assistance?
It is any kind of program that is designed to help people get into a home. That may be a very broad definition, but down payment assistance programs are not always programs that hand out free money by giving you cash in a suitcase – they can take many different forms. Some examples of the different types of down payment assistance programs that may be available include: Grants, Silent Seconds, Delayed Repayment Loans, Interest Free Loans, and Lender Specific Programs. Since there are so many different types of programs that may be available – it is advised that you find the right loan officer who is knowledgeable in programs in your area.
Down Payment Assistance Programs in Merrimack County, New Hampshire
- New Hampshire Housing Finance Authority Home Flex Mortgage Program: Home Flex Plus provides cash funds 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. For more information, Click here.
Mortgage Programs Available in Merrimack County, New Hampshire
- New Hampshire Housing Finance Authority Home Preferred Mortgage Program: Our mortgage programs are not just for first-time anymore! Individuals who have owned a home in the past may now use our great mortgage programs to purchase a principal residence. For more information, Click here.
- New Hampshire Housing Finance Authority Home Start Homebuyer Tax Credit Program: The Home Start Homebuyer Tax Credit Program makes homeownership more affordable for first-time homebuyers. Homebuyers who receive a Mortgage Credit Certificate (MCC) from New Hampshire Housing can decrease their income taxes by up to $2000. Best of all, this isn’t a one-time credit. It is an annual tax credit for each year for the life of the original mortgage, as long as you live in the home. For more information, Click here.
Additional Home Buying Resources
HUD offers some resources to those people who are interested in learning more about the process of buying a home, and the information on HUD’s website is free. Just a few of the services that HUD offers information about include: housing counseling agencies, predatory lending, education, assistance programs, HUD homes for sale, homeownership vouchers, home repairs, avoiding foreclosure, making your home more energy efficient, and more.
Other Relevant Merrimack County Sites
- New Hampshire Association of Realtors
- Merrimack County School
- Merrimack County Sheriffs
- HUD Homeownership Assistance for New Hampshire