August 25, 2011
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New Hampshire Housing Finance Authority

 

 

If you are a renter and have held off on buying a home because you were waiting for mortgage rates to drop even further, now is the time to make your move! Today New Hampshire Housing announced its lowest rates in the 35 year history of the agency’s mortgage program.

 
New Hampshire’s first-time home buyers will receive an extra boost toward being able to afford the purchase of their first home with New Hampshire Housing Finance Authority’s latest mortgage rates. Now borrowers can receive a 30-year, fixed rate mortgage for as low as 3.25% (with 2 points and an APR of 4.158%). For buyers who need assistance with accumulating the funds necessary to cover down payment and closing costs – frequently the greatest stumbling block to becoming a home owner – New Hampshire Housing offers up to a 4% cash grant to use toward those costs. A 30-year, fixed rate mortgage with the 4% cash grant can now be obtained at only 3.99% (with no points and an APR of 4.784%).
 
“We’re very excited to be able to offer these historically low rates at a time when it is difficult for many first-time buyers to enter the housing market,” said Dean Christon, executive director of New Hampshire Housing. “Despite the large number of homes on the market, sales activity remains low, partly because lending terms make ownership unaffordable for many in the Granite State. Our new low rates, especially when combined with our down payment and closing cost assistance, will provide families and individuals an opportunity to purchase their first home.”
 
A full listing of rates and mortgage terms, along with descriptions of the mortgage programs offered by New Hampshire Housing, can be found at GoNewHampshireHousing.com, the agency’s new website designed specifically to help first-time buyers navigate the process of purchasing their first home.
 
New Hampshire Housing is a self-supporting public benefit corporation established by the state legislature. The Authority operates a number of programs designed to assist low- and moderate-income persons with obtaining housing. Since its inception, New Hampshire Housing has helped more than 38,500 families purchase their own homes and has been instrumental in financing the creation of more than 14,000 multi-family housing units. More information about single family and multi-family housing programs offered by New Hampshire Housing may be found on the Authority’s website.