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Home Loans for New Hampshire
In New Hampshire, there are SO MANY TOWNS that qualify for a USDA rural development loan, it’s far easier to list the towns that don’t qualify. In alphabetical order, the towns that don’t qualify are: Concord Derry Dover Hudson Keene Londonderry Manchester Merrimack Nashua Portsmouth Rochester Salem …and parts of Goffstown and Hooksett due to population. […]
Divorcing? Ironically, it is much harder to end a mortgage loan contract than the marital contract. Even if the divorce agreement makes the mortgage your ex-spouse’s responsibility, you are still legally responsible for this debt! The divorce decree is only a legal agreement between you and your ex-spouse, not with your mortgage company. In the […]
Did you serve our country? If you are a veteran of the armed services, reservist, active duty, or surviving spouse of a veteran, then you may be eligible for a VA loan to purchase a new home or refinance your existing home. Why use a VA Loan? That is a good question. There are many […]
If you’ve been thinking of purchasing or refinancing a home that is in need of repairs, the Federal Housing Administration (FHA) 203(k) rehab loan might be for you. There are two types of 203(k) mortgages: streamlined and standard. The streamlined version is for smaller projects and is a less-involved process. Whether it’s for a Purchase or […]
Here are reasons to refinance your mortgage. Lower your monthly payment with a lower interest rate: One of the main reasons homeowners refinance is to lower their monthly payment. Lowering your interest rate by 1% on a $200,000 mortgage can save you $165 per month and more than $55,000 in interest over the life of […]
What is PMI? Many New Hampshire home buyers make down payments of less than 20 percent and have to pay private mortgage insurance (PMI). PMI is a type of insurance policy that reimburses your lender if you default on your mortgage. Private mortgage insurance charges vary depending on the size of the down payment and […]
Being self-employed brings its own challenges when you’re applying for a mortgage. Mortgage lenders underwrite their loans based on standard guidelines that have been established by Fannie Mae, the FHA, or the VA. Self-employed borrowers are often considered riskier than other types of mortgage loan applicants. Consequently, they frequently receive closer scrutiny than do salaried […]
Normally, when purchasing or refinancing a home, your lender is going to require an appraisal of that home. Under certain circumstances, you might be offered an “appraisal waiver,” saving you the cost of the appraisal and the time required to get that appraisal. To get this waiver, Fannie Mae’s or Freddie Mac’s AUS must give […]
The Realtor you sign on with represents YOU, and this comes with many benefits: A Realtor will do the work to search for homes that meet your criteria in current listings and future listings after you have compiled a list of features you would like your home to have. Once you have found a home […]
FHA Loan Limits Home prices increased in 2019, so the Federal Housing Authority (FHA) has increased its maximum loan amount for 2020 to stay in step with homebuyers who need to finance most of the purchase price. The new loan limits for single-family homes in New Hampshire range from $331,760 to $690,000, depending on in […]
The Federal Housing Finance Agency (FHFA) has announced new maximum conforming loan limits for 2019. The new limits set by the FHFA reflect the increase in home prices across the country, making it easier for more borrowers to qualify for financing and achieve the goal of homeownership. New loan limits Baseline maximum conforming loan limits […]
The Home Start Homebuyer Tax Credit from the New Hampshire Housing Finance Authority (NHHFA) is a money-saving program for first-time homebuyers. This is a federal Mortgage Credit Certificate (MCC) program. If you qualify, and receive a Mortgage Credit Certificate issued through the NHHFA, you can claim a federal tax credit for a portion of the […]
NHHFA, or the New Hampshire Housing Finance Authority, is one of the many resources we can utilize to help homebuyers finance their new home. Many home finance programs require homebuyer education which we can arrange through NHHFA. When you need down payment cash assistance The Home Flex Plus program from NHHFA provides cash assistance for […]
You may have an idea of what a “large” mortgage means to you, but in the mortgage world, we have something called “jumbo” mortgages. These are mortgages that are so large, they are greater than the Fannie Mae or Freddie Mac conforming loan size which is normally $453,100 unless you’re in Rockingham or Strafford Counties […]
When Realtors© and mortgage lenders have a good relationship, transactions go smoothly. We have cultivated incredible working relationships with some of the best Realtors© in NH. Far too often we’ve heard horror stories from Realtors that have stemmed from poor working relationships with mortgage lenders. For example, a homebuyer’s financing gets delayed and they have […]
If you’d like to tap into the equity in your home to Invest in home improvements Make a major purchase or Consolidate credit card bills, student loans or other debt you might consider a cash out refinance program that provides you with cash from your home equity at closing. The process of refinancing is similar […]
In this article we offer some answers and clarifications to common questions about VA home loans in New Hampshire. VA Loan Limits and Purchase Price Limits – What’s the maximum? The VA does not have a maximum loan amount or purchase price limit. You can borrow a million dollars on a VA loan if […]
House prices have climbed and the Federal Housing Administration (FHA) announced increased loan limits for 2019 to 115% of median house price by county. FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008, to set single-family forward loan limits at 115% of median house prices, […]
This year we unveiled some new Charley Farley Home Loans commercials, now airing on WMUR-TV. We’re happy with the positive feedback from viewers! For first time homebuyers: For those wondering how much home they’ll qualify for: For current homeowners planning to upsize to a larger home: For busy folks who want to […]
Do you dream of waking up in your own home overlooking a mountain or a beautiful lake? If your dream vacation home is in New Hampshire, we can help make it affordable for you with low, fixed rate vacation home loans. We finance a variety of second home types like condominiums, single-family homes and three-season […]
The mortgage industry can be a confusing maze when trying to determine how much you qualify for, how much cash you need, and how to get the lowest monthly payment. The two largest families of loan programs are Conventional and FHA programs. To keep things simple, here is a list of the primary benefits to […]
Do you love your home but need some major repairs? Do you want to update a certain room in your home? Do you want to put an addition on your home to give you and your family a little more room? Is your dream home a fixer upper? These are just a few of the […]
One of the most common questions everyone has when financing a home, whether it is for refinancing or purchasing, is what is my interest rate going to be? It’s a fair and simple enough question with many possible answers. There are many factors that go into determining what your interest rate will be on your […]
If you’re reading this article, you’re probably self-employed and you need mortgage financing to buy a home in NH. You might be right to think it would be easier to qualify for a mortgage if you worked for someone else and had W2 income. A self-employed borrower might require more documentation than a W2 worker, […]