Purchase Rehab Mortgage (Home Flex Rehab)

What is Purchase Rehab Mortgage (Home Flex Rehab)?

Purchase Rehab Mortgage (Home Flex Rehab) is a first mortgage for homebuyers in New Hampshire, administered by New Hampshire Housing Finance Authority (New Hampshire Housing).

• NH Housing's Purchase Rehab mortgage (FHA Section 203(k) Limited or RD Section 502 Guaranteed Rehabilitation, marketed as Home Flex Rehab) combines a home purchase with up to $75,000 (FHA) or $35,000 (RD) of rehabilitation funds in a single one-time-closing 30-year fixed first mortgage. It covers non-structural cosmetic, energy-efficiency and safety improvements and can be combined with NH Housing down payment Cash Assistance. A Voucher Assisted Mortgage Option (VAMO) is available for HCV holders.
• Up to $75,000 (FHA 203(k) Limited) or $35,000 (RD) rehab rolled into the purchase.
• One-time closing.
• 30-year fixed rate.
• Combinable with NH Housing Cash Assistance ($5,000/$10,000/$15,000).
• Not limited to first-time buyers.
• VAMO available for HCV holders.

How much assistance does it provide?

Purchase Rehab Mortgage (Home Flex Rehab) offers up to $75,000 in assistance.

• Award tiers: FHA 203(k) Limited: up to $75,000 total rehab; USDA RD: up to $35,000 total rehab.
• Buyer contribution: Per insurer/guarantor (FHA/RD) requirements; cash back at closing allowed per insurer rules, not to exceed borrower contribution.
• Amounts are the program's published maximums, not an offer — New Hampshire Housing Finance Authority (New Hampshire Housing) determines any individual award.

Do you have to pay it back?

Purchase Rehab Mortgage (Home Flex Rehab) is a first mortgage and is repaid under the terms set by New Hampshire Housing Finance Authority (New Hampshire Housing).

• The assistance is recorded in first position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Purchase Rehab Mortgage (Home Flex Rehab) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Purchase Rehab Mortgage (Home Flex Rehab) sets its income limit as follows: Subject to Home Flex income limits (generally up to $176,200). For RD-guaranteed loans the lower of the NH Housing limit or the RD limit applies. See NH Housing Program Income Limits (effective 06/02/25).

• 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?

Purchase Rehab Mortgage (Home Flex Rehab) caps the purchase price as follows: Conforming loan limits apply.

• Eligible property types include Single Family, 2-4 Unit, and Condo.
• New construction is not eligible.
• Manufactured homes are not eligible.

Where does it apply?

Purchase Rehab Mortgage (Home Flex Rehab) serves buyers purchasing anywhere in New Hampshire.

How do you apply?

Applications for Purchase Rehab Mortgage (Home Flex Rehab) go through New Hampshire Housing Finance Authority (New Hampshire Housing), 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 online education; Purchase Rehab education with signed acknowledgement; 2-4 unit purchases require landlord + homebuyer education..

2. 2

   Contact New Hampshire Housing Finance Authority (New Hampshire Housing) to reserve funds

   Funds are reserved with the provider 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.