Monadnock Habitat for Humanity Homeownership Program

Monadnock Habitat for Humanity Homeownership Program is a silent second mortgage for homebuyers in Keene, New Hampshire, administered by Monadnock Habitat for Humanity. Monadnock Habitat for Humanity partners with income-eligible families in southwestern NH to build and purchase affordable homes. Families buy through a zero-interest first mortgage (typically 30 years) held by MHFH, with a non-amortizing silent second for the difference between appraised value and first-mortgage principal. Selection is need-based; families contribute sweat equity (300 hours two-parent, 250 single-parent), complete financial literacy training, and maintain a 12-month budget. Zero-interest mortgage. Only $1,000 down payment. No prepayment penalty. Silent second requires no monthly payments. PITI capped at ~30% of household income. Financial literacy training included. Funding comes from Volunteer labor, donated materials and services, grants, community fundraising.

Monadnock Habitat for Humanity Homeownership Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by sale or transfer. The assistance is recorded in second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Monadnock Habitat for Humanity Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: No published minimum; each adult household member undergoes credit check, identity verification, criminal background check, sex offender registry check, and income verification. A homebuyer education course is required, through Monadnock Habitat for Humanity (online Financial Literacy Training and required homeownership/financial classes); applicants develop and maintain a 12-month budget with a Family Relations rep. Residency requirement: Must live or work in one of 27 specified towns: Alstead, Chesterfield, Dublin, Fitzwilliam, Gilsum, Greenfield, Hancock, Harrisville, Hinsdale, Jaffrey, Keene, Marlborough, Nelson, New Ipswich, Peterborough, Richmond, Rindge, Roxbury, Sharon, Sullivan, Surry, Swanzey, Temple, Troy, Walpole, Westmoreland, Winchester. Citizenship or immigration status: Must be a legal U.S. resident. Sweat equity: 300 hrs two-parent, 250 hrs single-parent (members 18+). Monthly PITI must not exceed 30% of household income; DTI no more than 40%. Mortgage principal = construction cost + 10% admin fee. New-applicant intake window may be intermittently closed (page snapshot 2026-05-20 noted applications closed while body invited waitlist applications); program active and funded.

Monadnock Habitat for Humanity Homeownership Program sets its income limit as follows: Total household income between 60% and 80% of HUD Area Median Family Income (FAQ states 50%-80% AMI). Published minimum income thresholds: Family of 1 >=$44,940; 2 $51,360; 3 $57,780; 4 $64,200; 5 $69,336; 6 $74,472. A 2020 table lists 50% AMI minimums and 80% AMI maximums (e.g., Family of 4: $63,950 min / $96,250 max). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Monadnock Habitat for Humanity Homeownership Program caps the purchase price as follows: No fixed maximum; mortgage principal equals total construction cost plus a 10% administrative fee, reduced by volunteer labor, grants, and donated materials. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

Monadnock Habitat for Humanity Homeownership Program serves homebuyers purchasing in Keene, New Hampshire. The program targets specific areas: Southwestern New Hampshire / Monadnock region; 27 specified towns including Keene, Peterborough, Jaffrey, Swanzey, Winchester.

Applications for Monadnock Habitat for Humanity Homeownership Program go through Monadnock Habitat for Humanity, which publishes the current terms and the application steps on its own site. Funds are reserved through waitlist. 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.