FHA Home Loan Programs in NH

FHA Mortgages in NH - Low Down Payment

You don’t have a lot of cash for a down payment? You’re not a veteran of the Armed Services? You don’t qualify for an RD loan? Well then, an FHA mortgage loan program might be a great option for you! The FHA, or Federal Housing Administration, is an agency within the U.S. Department of Housing and Urban Development. The FHA loan program in NH has been helping people obtain the dream of home ownership since 1934. This is one of the most flexible loan programs and the standard to which all other low down payment and first-time buyer programs are compared.

Read about the current FHA Loan Limits in New Hampshire.

Here are some of the key features:fe

• Only 3.5% down payment is required, with 96.5% financing available.
• The loan is government backed, so the interest rate is low.
• Nontraditional credit histories are considered.
• Blemished credit is often workable.
• It’s a 30-year fixed-rate program.
• Closing costs are standardized (the seller can pay the closing costs).
• There are no reserves required.
• There are no restrictions on gift funds.
• New or existing construction is acceptable.
• It’s not limited to first-time home buyers.
• There are no income limits.
• There are never any prepayment penalties.

There are a few beliefs about FHA loans that are not true.

Myth: FHA is very particular about the condition of the home.

Truth: FHA property standards are not significantly different from those of most other government loan programs, other than a little more focus on structural and safety-related issues.

Myth: FHA requires at least one borrower to be a first-time home buyer.

Truth: You do not have to be a first-time home buyer. In fact, you can currently own a home and use an FHA loan to finance another home, as long as you meet all the normal underwriting requirements.

To get started with an FHA loan, contact Charley at (603) 471-9300 or send an email below to ask a question, or if you're ready to proceed click on either of the links below to get started. Your information will be kept completely private.

• Get pre-approved.
• Apply now with a property address.

We have originated more than 1/2 billion dollars of real estate to thousands of NH property owners and are happy to share our experience and expertise with you.