First-Time Homebuyer Assistance Program

First-Time Homebuyer Assistance Program is a grant for homebuyers in Nashua, New Hampshire. City of Nashua FTHB DPA grant: up to $10,000 forgivable lien for first-time low-to-moderate-income homebuyers purchasing in Nashua. 5-year HOME affordability period. 80% AMI limit. City-Specific (Nashua only). City of Nashua's First-Time Homebuyer Assistance Program is a HOME-funded forgivable grant providing up to $10,000 in down-payment / closing-cost assistance for income-eligible first-time homebuyers purchasing in the City of Nashua, NH. Grant is structured as a 5-year recoverable lien that converts to a true grant if the buyer remains in the home as primary residence for the full 5-year affordability period (HOME-required). Funded via HUD HOME entitlement allocation to the Nashua Community Development Division. Pairs with FHA, USDA-RD, VA, conventional, or NH Housing first mortgage from any qualifying lender. Income limits up to 80% AMI for the Nashua HOME service area: $64,900 (1-person) - $122,300 (8+ person household). Borrower contribution $1,500 minimum. Homebuyer education required. Funding comes from Federal and Local.

First-Time Homebuyer Assistance Program is structured as a grant, so it is not repaid. Repayment is triggered by 5-year recoverable lien (HOME affordability period). If borrower sells, refinances with cash-out, transfers title, or vacates as primary residence within 5 years, full grant is repayable. After 5 years of continued owner-occupancy, lien is released and grant is fully forgiven. 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.

First-Time Homebuyer Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: FTHB requirement waived for displaced homemakers and single parents per HUD HOME definition. On credit, the program states: Per first-mortgage product overlays; City of Nashua does not impose a separate FICO minimum. A homebuyer education course is required, through HUD-certified homebuyer education providers including NeighborWorks Southern NH, The Way Home, and AHEAD. Residency requirement: Property must be located within the City of Nashua, NH boundaries (city limits) and be the borrower's primary residence. Citizenship or immigration status: U.S. citizen or qualifying permanent resident (HOME eligibility). Must be a first-time homebuyer (no ownership of a primary residence in past 3 years). Property must be located within the City of Nashua, NH (not in suburbs / Hillsborough County outside Nashua). Owner-occupied primary residence. Household income at or below 80% AMI for the Nashua HOME service area ($64,900 1-person to $122,300 8+ person household by HUD MFI table). Borrower must contribute a minimum of $1,500 of own funds. 5-year HOME affordability period (recoverable lien if borrower vacates / sells / refinances within 5 years). HUD-certified homebuyer education required. HOME compliance: lead-based paint review (pre-1978 properties), Section 504 accessibility review, and Davis-Bacon labor compliance (if rehab tied to HOME).

First-Time Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size. City of Nashua / HUD HOME income limits at or below 80% AMI: $64,900 (1-person) to $122,300 (8+ person) per HUD MFI table for Nashua, NH-MA HUD Metro FMR Area. 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.

First-Time Homebuyer Assistance Program caps the purchase price as follows: Per HOME-set maximum acquisition price (95% of area median single-family purchase price for Nashua MSA - typically updated annually by HUD). Eligible property types include Single-family detached, condominium, townhouse, 2-unit owner-occupied (per HOME). 3-4 unit on case-by-case review. New construction is eligible. Manufactured homes are eligible.

First-Time Homebuyer Assistance Program names veterans, active-duty service members, reservists and National Guard members, surviving spouses, and homebuyers with disabilities 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.

First-Time Homebuyer Assistance Program serves homebuyers purchasing in Nashua, New Hampshire.

Applications for First-Time Homebuyer Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Reserved directly with City of Nashua Community Development Division upon application; subject to fund availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.