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New Hampshire 100% Financing - Rural Housing Program

USDA (United States Department of Agriculture) -

 Rural Development Housing and Community Facilities Program (HCFP)

Farm pictureA common barrier to owning a home for many individuals and families is the lack of funds to make a down payment.  The USDA offers a 100% financing options for qualified buyers who want to purchase properties in rural areas.  To be eligible for this program, you must be unable to obtain a mortgage from another source.  In most cases, this requirement will be satisfied if you do not have a down payment. 

The program is not limited to first-time home buyers.  To determine if you qualify, contact a participating lender in your area.

There is no limit on the mortgage amount or sales price however properties in the following areas are not in "rural areas" and are inelgible:

Concord, Derry, Dover, Hudson, Keene, Londonderry, Manchester, Merrimack, Nashua, Portsmouth, Rochester, Salem and parts of Goffstown and Hooksett

Property Requirements

  • Single Family Homes
  • Condos/Townhouses
  • Mobile Homes ONLY if brand new, on own lot, not in a park, purchased from an approved dealer-contractor
  • Lot value no more than 30% of total value

 The following income limits are listed for each county.

Belknap, Carroll, Cheshire, Coos, Grafton and Sullivan COUNTIES:           

1-4 PERSON                 5-8 PERSON

 $84,100                      $111,000

 Hillsborough County (Non-MSA Towns):

 1-4 PERSON                5-8 PERSON

 $88,550                       $116,900

 Merrimack County (Non-MSA Towns):         

1-4 PERSON                 5-8 PERSON

$86,100                        $113,650

 Western Rockingham County (Non-MSA towns) and Lawrence, Manchester and Nashua MSA:

1-4 PERSON                 5-8 PERSON

$92,000                         $121,450

 Portsmouth -Rochester MSA:

1-4 PERSON                 5-8 PERSON

$92,000                         $121,450

The following resources will assist you locating property, obtaining real estate related information and buyer agency services:

The Virtual Homes MLS Map Search provides all MLS listings plotted in each town on a map in both New Hampshire and Massachusetts. RE/MAX Country Properties real estate agents can assist you in your search for the perfect home (800) 222-2829.

New Hampshire Multiple Listing Service- Search the MLS for all NH property listings. Go to MA MLS for Massachusetts listings.

New Hampshire Foreclosures and Bank Owned Homes - Register to receive New Hampshire foreclosure (bank-owned) listings and short sale opportunities. Go To MA Bank Owned for Massachusetts foreclosed property.

Home Search Service- Home search is a web-based real estate software tool (MLSpulse) that keeps you continually informed of your local real estate market. Virtual Homes real estate provides access to real estate, relocation and town information in New England states.

 

 

 

Comment balloon 0 commentsFred Doleac • April 23 2009 08:36PM

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