Home Flex

What is Home Flex?

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

• NH Housing's no-FTHB-required first-mortgage product (FHA / VA / USDA-RD). Pairs with up to 4% Cash Assistance forgivable DPA. 620 FICO government / 660 conventional. Statewide.
• NH Housing's Home Flex is a 30-year fixed first-mortgage program (FHA, FHA 203(k), VA, or USDA-RD) with NO first-time-homebuyer requirement - making it available to repeat buyers and current homeowners trading up/down. 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). 620 minimum FICO government / 660 conventional. Income limits up to $176,200 (3+ person targeted) / $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 and Bond.

How much assistance does it provide?

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

• Buyer contribution: Per 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?

Home Flex 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 Flex is open to buyers who will live in the home as their primary residence.

What are the income limits?

Home Flex 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 Flex 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 Flex 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 Flex serves buyers purchasing in Statewide, New Hampshire.

• The program targets specific areas: Higher-cost counties (Rockingham, Strafford, Hillsborough) have higher acquisition-cost limits up to $950,000 and higher income limits up to $176,200.

How do you apply?

Applications for Home Flex go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 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. 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. 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.