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Cash Assistance Mortgage Program

Statewide, New Hampshire

Last verified
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Assistance

4%

Of the purchase price, as the program sets it

Income limit

$176,200

The household income limit the program publishes

Price cap

$950,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 4 years

What is Cash Assistance Mortgage Program?

Cash Assistance Mortgage Program is a forgivable loan for homebuyers in Statewide, New Hampshire.

  • NH Housing's flagship DPA: up to 4% of first-mortgage loan amount as a 0%-interest forgivable second mortgage. Forgiven 1% per year over 4 years. Pairs with Home First / Home Flex / Home Preferred / ROC Preferred. 620 FICO. Statewide.
  • NH Housing's Cash Assistance Mortgage Program provides up to 4% of the base first-mortgage loan amount as down-payment / closing-cost assistance, structured as a 0%-interest forgivable second mortgage. The 4% second is forgiven on a pro-rata basis at 1% per year over 4 years of continued owner-occupancy. Pairs with NH Housing's Home First (FTHB), Home Flex (no FTHB requirement), Home Preferred (HFA conventional), or ROC Preferred (manufactured housing) first-mortgage products. (Home Flex Plus already bundles the 4% Cash Assistance, so Cash Assistance is implicit there.) Borrower must use a NH Housing-approved participating lender. 620 minimum FICO. Income limits up to $176,200 in higher-cost counties / $125,900-$144,785 non-targeted by household size. Acquisition cost up to $950,000 in higher-cost counties / $505,000 non-targeted. Homebuyer education required.
  • Funding comes from State.

How much assistance does it provide?

Cash Assistance Mortgage Program provides assistance worth 4% of the purchase price, as set by the program.

  • Buyer contribution: No minimum borrower contribution beyond first-mortgage product overlays.
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Cash Assistance Mortgage Program is forgiven after 4 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by 0% interest. Forgiven 25% per year over 4 years of continued owner-occupancy. Unforgiven balance due on sale, refinance, transfer of title, or non-owner-occupancy before 4 years. No monthly payment.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Cash Assistance Mortgage Program is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: 620 minimum FICO. Higher minimums per first-mortgage product overlays (e.g., 680 for HFA conventional under Home First).
  • A completed homebuyer education course, through NH Housing-approved homebuyer education course (online via Framework or in-person via NH Housing-funded counseling agencies including AHEAD, NeighborWorks Southern NH, and The Way Home).
  • Residency: Property must be located in New Hampshire and be the borrower's primary residence.
  • Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays.
  • Must be paired with a NH Housing Home First, Home Flex, Home Preferred, or ROC Preferred first mortgage. Owner-occupied primary residence. 620 minimum FICO. Maximum 45% DTI. Household income at or below NH Housing limits ($125,900 1-2 person / $144,785 3+ non-targeted; up to $151,080 / $176,200 in targeted/higher-cost counties). Maximum purchase price $505,000 non-targeted / up to $950,000 in higher-cost counties. Homebuyer education required. First-time-homebuyer status NOT required (Cash Assistance pairs with Home Flex which has no FTHB requirement). Borrower must remain in property as primary residence for the 4-year forgiveness term (1% forgiven per year).

The program excludes

  • Purchases above the $950,000 price cap
  • Households above $176,200

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Cash Assistance Mortgage Program limits household income to $176,200.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Cash Assistance Mortgage Program caps the purchase price at $950,000.

  • Eligible property types include Single-family detached, 2-4 unit owner-occupied (per first-mortgage overlays), condominium (project-approved), townhouse, PUD, modular, and manufactured home on permanent foundation (ROC Preferred only for in-park manufactured housing).
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

Cash Assistance Mortgage Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Cash Assistance Mortgage Program serves buyers purchasing in Statewide, New Hampshire.

  • The program targets specific areas: Federally designated targeted census tracts (per IRS Section 143) where MRB first-time-homebuyer requirement is waived and higher income / acquisition-cost limits apply. Higher-cost counties (Rockingham, Strafford, Hillsborough) have higher acquisition-cost limits up to $950,000.

How do you apply?

Applications for Cash Assistance Mortgage Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through NH Housing-approved homebuyer education course (online via Framework or in-person via NH Housing-funded counseling agencies including AHEAD, NeighborWorks Southern NH, and The Way Home)..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Reserved through NH Housing's online lender portal (Lender Online) at time of rate lock by approved participating lender., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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