Home Flex Plus
Financial Assistance for Homebuyers in New Hampshire
New Hampshire’s Home Flex Plus offers up to 3 percent of loan amounts in the form of cash funds, in order to help homebuyers afford the upfront costs of their new property. The available funds can be put toward the down payment, closing costs, and prepaid items associated with purchasing a home. With the Home Flex Plus program, there is no requirement to repay the cash assistance. The program offers flexible underwriting criteria as well as government insurance and may be used for purchasing or refinancing a home. There are no rate adjustments for credit or other overlays.
In addition the guidelines for the Home Flex mortgage program, Home Flex Plus applicants must meet certain requirements to be considered eligible. All applicants must complete a homebuyer education course and have a minimum credit score of 620. Regardless of county or family size, their annual household income must fall within the program’s maximum limit of $116,300 (Note: This amount was accurate at the time of publication and may no longer be current - visit the program website for updated information).
Any property purchased under Home Flex Plus must serve as the applicant’s primary residence. While there is no maximum purchase price, eligible property types include new or existing one- to four-unit homes, condos approved by FHA/RD or VA, and manufactured homes on their own land.
*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but States and Local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price and income limits.
Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
Down Payment Grants in New Hampshire
With the Home Flex Plus program there is no requirement to repay the cash assistance. The program offers flexible underwriting criteria as well as government insurance, and may be used for purchasing or refinancing a home. There are no rate adjustments for credit or other overlays.
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