ROC Preferred

ROC Preferred is a forgivable loan for homebuyers in Statewide, New Hampshire. NH Housing's manufactured-home-in-Resident-Owned-Community first-mortgage product. Pairs with up to 4% Cash Assistance forgivable DPA. 620 FICO government / 680 conventional. Statewide ROC parks. NH Housing's ROC Preferred is a 30-year fixed CONVENTIONAL first-mortgage product specifically for borrowers purchasing a manufactured home on land in an approved Resident-Owned Community (ROC) - cooperative manufactured-home parks where residents collectively own the underlying land. Title to the manufactured home (chattel-style on a leased pad in a member-owned cooperative) is financed via a real-estate-secured conventional mortgage given the cooperative ownership structure. 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 / 680 conventional. Income limits up to $176,200 / $125,900-$144,785 non-targeted by household size. Homebuyer education required. NH Housing's ROC Preferred is unique nationally - it leverages the NH Community Loan Fund's pioneering ROC USA cooperative-park model. Funding comes from State and Bond.

ROC Preferred is forgiven after 4 years, so a homebuyer 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.

ROC Preferred is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 620 minimum FICO government / 680 conventional. A homebuyer education course is required, through NH Housing-approved homebuyer education course PLUS ROC-specific cooperative-membership orientation provided by the ROC park. Residency requirement: Property must be in a NH Housing-approved ROC located in New Hampshire; primary residence. Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays. Property must be a manufactured home located in a NH Housing-approved Resident-Owned Community (ROC) - a cooperatively-owned manufactured housing park (typically supported by NH Community Loan Fund's ROC USA program). 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). Homebuyer education required. Membership in the ROC cooperative required.

ROC Preferred 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.

ROC Preferred caps the purchase price as follows: Acquisition cost limits per NH Housing standard schedule. ROC manufactured-home purchase prices typically well below state median given cooperative-pad ownership structure. Eligible property types include Manufactured home (singlewide, doublewide, modular) in a NH Housing-approved Resident-Owned Community (ROC) cooperative manufactured-home park. Membership share in the ROC cooperative required. New construction is eligible. Manufactured homes are eligible.

ROC Preferred 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.

ROC Preferred serves homebuyers purchasing in Statewide, New Hampshire. The program targets specific areas: Statewide ROC parks (~120+ Resident-Owned Communities across NH).

Applications for ROC Preferred go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Reserved through NH Housing's online lender portal (Lender Online) at time of rate lock by approved participating lender. 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.