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Home First

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 Home First?

Home First is a forgivable loan for homebuyers in Statewide, New Hampshire.

  • NH Housing's first-time-homebuyer first-mortgage product (FHA / VA / USDA-RD / HFA Conv). Pairs with up to 4% Cash Assistance forgivable DPA. 620 FICO government / 680 conventional. Statewide.
  • NH Housing's Home First is a bond-funded first-time-homebuyer first-mortgage program (30-year fixed FHA, FHA 203(k), VA, USDA-RD, or HFA Advantage conventional). Pairs with the standard NH Housing Cash Assistance second mortgage providing up to 4% of the base loan amount as a 0%-interest forgivable second (1%/year over 4 years). Borrower must be a first-time homebuyer (no ownership of a primary residence in past 3 years.
  • waived in federally targeted areas and for qualifying veterans). Income limits up to $176,200 in targeted/high-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. 620 minimum FICO government / 680 conventional. Homebuyer education required.
  • Funding comes from State and Bond.

How much assistance does it provide?

Home First provides assistance worth 4% of the purchase price, as set by the program.

  • Buyer contribution: Per first-mortgage product overlays (FHA 3.5% borrower contribution may be sourced from Cash Assistance second).
  • 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?

Home First is forgiven after 4 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by First mortgage: standard 30-year amortizing. Cash Assistance second: 0% interest, 1%/year forgiveness over 4 years and unforgiven balance due on sale/refinance/transfer/non-owner-occupancy before 4 years.
  • The assistance is recorded in 1st 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?

Home First is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time-homebuyer requirement waived in federally designated targeted census tracts and for qualifying veterans under IRS Section 143(d)(2)(B).
  • The home is occupied as a primary residence
  • On credit: 620 minimum FICO for FHA / VA / USDA-RD; 680 minimum FICO for HFA Advantage conventional.
  • A completed homebuyer education course, through NH Housing-approved homebuyer education course (Framework online or in-person via AHEAD, NeighborWorks Southern NH, The Way Home).
  • Residency: Property must be located in New Hampshire and be the borrower's primary residence. Statewide eligibility.
  • Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays.
  • First-time homebuyer required (no ownership of a primary residence in the past 3 years); waived in federally targeted census tracts and for qualifying veterans (per IRS Section 143(d)(2)(B)). Owner-occupied primary residence. 620 minimum FICO government / 680 conventional. Maximum 45% DTI. Household income at or below NH Housing limits ($125,900 1-2 / $144,785 3+ non-targeted; $151,080 / $176,200 targeted). Maximum purchase price $505,000 non-targeted / up to $950,000 higher-cost counties. Homebuyer education required.

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?

Home First 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?

Home First 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.
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

Home First 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?

Home First serves buyers purchasing in Statewide, New Hampshire.

  • The program targets specific areas: Federally designated targeted census tracts where MRB FTHB 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 Home First 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 (Framework online or in-person via AHEAD, NeighborWorks Southern NH, 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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