Home First (and Home First Plus / Home First Government)
New Hampshire Housing Finance Authority (NH Housing) — official state housing finance agency, program details confirmed via official 'Home First Government' Loan Fact Sheet dated 12/02/25
Amount: Optional 'Cash Assistance' second mortgage of a fixed $5,000, $10,000, or $15,000 (availability-dependent), used for down payment, closing costs, and prepaids. Structured as a 0% interest, 0% APR second mortgage with no periodic payments and a 30-year term. Full repayment is triggered by sale/transfer of the property, refinancing/prepayment of the first mortgage, bankruptcy filing, or the home ceasing to be the borrower's primary residence.
Type: Deferred-payment forgivable-style second mortgage (0% interest, due on sale/refinance) paired with a first mortgage insured by FHA, VA, or USDA Rural Development (a conventional/Fannie Mae version exists under the related 'Home Preferred' program)
Must meet NH Housing's published income and purchase price limits (vary by town/city and household size; limits are updated annually by NH Housing). Must be a first-time homebuyer — defined specifically as not having had an ownership interest in (not been listed on the deed of) a principal residence during the previous 3 years before the mortgage is executed — unless purchasing in a designated Targeted Community or a qualifying veteran. Minimum credit score (FICO) of 620 per NH Housing overlay; max 50% debt-to-income unless FICO is 680+ with an Approve/Eligible underwriting result. Must complete NH Housing-approved homebuyer education (one borrower minimum). Owner-occupied primary residence, 1-4 units.
1stGenHomeNH (1st Generation Homebuyer Program)
New Hampshire Housing Finance Authority (NH Housing) — pilot program with limited funding
Amount: $10,000 in cash assistance applied toward down payment and closing costs (structured similarly to Home First's cash assistance: second mortgage, 0% interest, no monthly payments, 30-year term)
Type: Deferred-payment second mortgage layered on top of an eligible NH Housing first mortgage
Neither the borrower/co-borrower nor either of their parents/legal guardians may have ever owned a home. Must purchase a single-family (1-4 unit) primary residence in New Hampshire. Requires face-to-face (in addition to standard) homebuyer education. Funding is limited as this is a pilot initiative, so availability is not guaranteed.
Home Preferred Plus / Home Preferred
New Hampshire Housing Finance Authority (NH Housing), in partnership with Fannie Mae's HomeReady program
Amount: Same optional Cash Assistance structure as Home First: $5,000, $10,000, or $15,000 second mortgage (0% interest, no payments, 30-year term, due on sale/refinance/bankruptcy/vacating), plus up to 97% financing on the first mortgage
Type: Conventional (Fannie Mae) first mortgage with optional 0% deferred-payment second-mortgage down payment assistance
Income up to 80% of Area Median Income (AMI) as determined by Fannie Mae's HomeReady guidelines for the standard Home Preferred Plus tier (an 'Over 80% AMI' conventional option exists up to NH Housing's general income ceiling). Same 620 minimum credit score and homebuyer education requirements apply as under NH Housing's general overlays.
Home Flex Plus
New Hampshire Housing Finance Authority (NH Housing)
Amount: Cash assistance of up to 3% of the loan amount (variable dollar amount based on loan size, rather than the fixed $5k/$10k/$15k tiers) to help cover down payment, closing costs, and prepaid items; described by NH Housing-affiliated sources as not requiring repayment under this specific Flex structure
Type: Flexible mortgage program (FHA/VA/RD/Conventional options) with percentage-based cash assistance
Income limit of $167,800 per figures reported by NH Housing partner/lender sources; standard NH Housing credit score (620 minimum) and homebuyer education requirements apply; owner-occupied primary residence