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Closing Cost Assistance Programs In New Hampshire

By Elizabeth R. Elstien

These days, many need financial help to purchase a home. Government and local agencies offer programs to help with down payment and other closing costs. Learn about programs that can help you purchase a home and the New Hampshire agencies that administer them.

New Hampshire Housing Finance Authority (NHHFA)

NHHFA offers closing-cost assistance with their Flex Plus program. General program requirements are:

  • gross income limit of $110,00 for borrower, regardless of number of people in household
  • must be condominium, single-family or two- to four-unit multihousing property where the owner lives in one unit
  • property only used as primary residence and owner-occupied all year

The Flex Plus program of this non-profit organization gives cash funds equal to 3% of the loan amount at closing with no repayment required. The buyer, however, is required to come up with 1% or more of the downpayment costs, depending on the loan amount and as determined by the lender. Only an approved mortgage loan officer may be used for this loan program:


HOMEteam has an Individual Development Account (IDA), which is a savings plan which matches the amount you have saved with eight times that amount, so if you save $1,000, it will be matched with $8,000 giving you $9,000 to use for the purchase of a home. You must meet their low-income eligibility requirements and will have to follow their program prerequisites, which include classes on budgeting and finance to get the match money.

U.S. Department of Agriculture (USDA)

The USDA, Rural Development has a Section 502 direct loan to help purchase or build a single-family home in a rural area, including preparing sites by bringing in utilities. Low-income eligibility and other requirements must be met. These government-backed direct loans cover more than closing costs and must be repaid, but repayment subsidy is available.

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