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HomeHomebuyers in New Hampshire Can Now Receive Up to $15,000 in Downpayment Assistance
August 1, 2024
– Increased and fixed amounts enhance accessibility and affordability –
New Hampshire Housing announces a significant update to its Cash Assistance Program, effective August 1st. The updated program simplifies and increases downpayment assistance by replacing the previous percentage-based structure with fixed amounts of $5,000, $10,000, or $15,000. This change raises the previous assistance cap from $10,000 to $15,000, providing greater support for homebuyers.
This update is designed to eliminate the complexities associated with variable assistance calculations, providing clearer and more predictable support for homebuyers. By introducing fixed assistance amounts and adding the $15,000 tier, NH Housing aims to make homeownership more accessible and straightforward.
Standardized Support Across Mortgage Products
The new system also brings alignment across all three of NH Housing’s mortgage products, ensuring consistency and ease of understanding for homebuyers. In addition, these new tiers are available to all qualifying homebuyers, not limited to only first-time buyers or those living in targeted communities. This standardization reflects NH Housing’s commitment to enhancing the efficiency and accessibility of its services.
“Our goal with these changes is to increase both the affordability and availability of mortgage options for buyers in New Hampshire,” said Julie Jussif, Managing Director of Homeownership at NH Housing. “We recognize that coming up with a downpayment is one of the top barriers to achieving homeownership. By making these adjustments, we can better support a wider range of homebuyers, ultimately helping more families achieve their dreams of owning a home.”
Streamlined Homebuying Experience
Homebuyers can look forward to a more streamlined experience with the updated Cash Assistance Program. The fixed assistance amounts eliminate the need for complex calculations, providing clear and predictable support, making the process simpler and more efficient.
For more information about New Hampshire Housing’s homeownership programs and qualification details, visit NHHomeownership.org or speak with an approved lender.
About New Hampshire Housing
As a self-sustaining public corporation, New Hampshire Housing promotes, finances, and supports housing solutions for the people of New Hampshire. We have helped more than 55,000 families purchase their own homes and been instrumental in financing the creation of 16,000 multifamily housing units. NHHousing.org
Contact:
Etienne LaFond
Director of Communication and Marketing
New Hampshire Housing
Elafond@nhhfa.org