New Hampshire Home Flex Plus Program Guide

Guide to the New Hampshire Home Flex Plus Program

The New Hampshire Home Flex Plus Program provides affordable mortgage options and financial assistance to eligible homebuyers, making it easier to achieve homeownership. This program offers competitive interest rates and assistance with down payments and closing costs, designed for both first-time and repeat buyers who meet specific requirements. Below is a comprehensive guide to the program’s benefits, eligibility criteria, and application process for 2025.

1. Program Overview:

• Purpose: The New Hampshire Home Flex Plus Program aims to reduce financial barriers to homeownership by providing low-interest mortgages and financial assistance for upfront costs.
• Down Payment Assistance: Eligible buyers can receive assistance to cover a portion of their down payment and closing costs, reducing the out-of-pocket expenses required to purchase a home.
• Flexible Eligibility: The program is available to both first-time and repeat buyers, ensuring that more individuals and families can benefit from its offerings.

2. Eligibility Requirements for 2025:

To qualify for the New Hampshire Home Flex Plus Program, applicants must meet the following requirements:

• Income Limits: Household income must fall within the program’s limits, which vary by location and household size. These limits are updated annually to align with the area median income (AMI).
• Purchase Price Limits: The home’s purchase price must not exceed the program’s maximum limits, which are adjusted annually based on regional housing costs.
• Primary Residence: The property must be located in New Hampshire and used as the buyer’s primary residence. Investment properties and second homes are not eligible.
• Credit Score: A minimum credit score, typically 640 or higher, is required. Specific requirements may vary depending on the loan type and lender.
• Homebuyer Education: Completion of a homebuyer education course is mandatory to ensure participants are well-prepared for the responsibilities of homeownership.

3. How to Apply:

The application process for the New Hampshire Home Flex Plus Program involves the following steps:

• Contact a Participating Lender: Begin by reaching out to a lender approved to offer this program. They will verify your eligibility and guide you through the process.
• Gather Required Documentation: Be prepared to provide proof of income, tax returns, credit reports, and a certificate from the required homebuyer education course.
• Submit Your Application: Work with your lender to complete the application and submit all required documents for review and approval.

4. Program Benefits:

• Down Payment Assistance: Financial assistance is available to cover a percentage of the home’s purchase price or a flat amount for down payment and closing costs.
• Affordable Financing: Participants benefit from competitive fixed interest rates, making monthly mortgage payments more manageable.
• Flexibility: The program is available to both first-time and repeat buyers, offering broader access to affordable housing options.

5. Assistance Details:

• Assistance Amount: Eligible buyers can receive financial support to reduce upfront costs. The exact amount depends on program guidelines and the applicant’s financial situation.
• Repayment Terms: Assistance is typically provided as a forgivable loan, with repayment not required if specific conditions, such as living in the home for a set period, are met.

6. Additional Considerations:

• Combination with Other Programs: The New Hampshire Home Flex Plus Program may be combined with other state or federal assistance programs to maximize financial benefits.
• Program Fees: Some fees may apply during the application process, which your lender will explain in detail.

The New Hampshire Home Flex Plus Program is an excellent opportunity for eligible buyers to achieve homeownership in 2025. By offering down payment assistance and affordable mortgage options, the program helps reduce financial barriers and makes purchasing a home more accessible. Contact a participating lender today to learn more and begin your application process.