Overview
New Hampshire is one of the toughest markets in the Northeast for first-time buyers right now — the median single-family price hit a record $576,000 in 2026, and Rockingham County tops $700,000. But the state has two genuine advantages: as of 2025, New Hampshire has no income tax of any kind, and its housing finance agency, New Hampshire Housing (NHHFA), runs solid down payment programs. The hook is that the agency's cash assistance pairs with competitive 30-year fixed rates, and a special program can stack an extra $10,000 for first-generation buyers — a real lever in an expensive market.
New Hampshire Housing's workhorse is the Home Flex Plus / Home Preferred Plus cash-assistance structure. It provides up to roughly 3-4% of your base loan amount toward down payment, closing costs, and prepaid items. The mechanics matter: it's a second mortgage at 0% interest with no monthly payments and a 30-year term, and it becomes due in full only if you sell, refinance, file bankruptcy, stop using the home as your primary residence, or reach the 30-year mark. In practice, most buyers who stay put never repay it out of pocket. Home Flex Plus covers FHA/VA/USDA loans; Home Preferred Plus is the conventional track. Income limits run up to about $176,200, and homebuyer education is required.
State Programs
Home Flex Plus
Deferred second mortgage (0% interest, due on sale/refi/30 years)Home Preferred Plus
Deferred second mortgage (0% interest, due on sale/refi/30 years)1stGenHomeNH (First-Generation Homebuyer)
Additional assistance (stacks on Home Flex/Preferred)Federal Programs Available in New Hampshire
These nationwide programs can be combined with New Hampshire state assistance for maximum benefit.
FHA Loan Program
Low down payment mortgageVA Home Loan
Zero down payment mortgageUSDA Rural Development Loan
Zero down payment mortgageTips for First-Time Buyers in New Hampshire
The program worth flagging is 1stGenHomeNH, a pilot offering an additional $10,000 to qualifying first-generation homebuyers — people whose parents never owned a home (or lost it to foreclosure). It stacks on top of the standard Home Flex/Preferred cash assistance and requires face-to-face homebuyer education, but funding is limited, so it can run dry. New Hampshire Housing's Home Preferred conventional path also offers reduced mortgage insurance, which trims your monthly payment. These programs combine with the agency's first mortgage; they don't combine with each other beyond the 1stGen add-on, so a participating lender can map the right stack for you.
Here's the trade-off that defines New Hampshire. On taxes, it's a haven: the long-standing Interest & Dividends tax was fully repealed effective January 1, 2025, so the state now taxes no wage, investment, or retirement income — and there's no sales tax either. The flip side is property tax, among the highest in the nation, with an effective rate around 1.66%-1.86%. On a $576,000 home that's roughly $9,500-$10,700 a year, a number that genuinely shapes affordability. New Hampshire offers an elderly exemption and a disabled exemption that reduce assessed value (amounts vary widely by town), plus a veterans' tax credit, so check with your town's assessing office.
Because New Hampshire's property tax is set town by town, your effective rate can swing dramatically between neighboring communities — it pays to compare local mill rates before you fall in love with a house. Cities like Manchester, Nashua, and Concord, along with regional agencies, periodically offer their own homebuyer or rehab assistance; confirm current funding. Military buyers near Portsmouth Naval Shipyard (just over the Maine line in Kittery) and Pease Air National Guard Base can combine VA financing with NH Housing assistance. Your first step: complete the required homebuyer education through New Hampshire Housing or a HUD-approved counseling agency, then contact a participating lender.
Frequently Asked Questions
For educational purposes only -- not financial or tax advice. Program details, eligibility requirements, and benefit amounts are subject to change. Verify all information directly with the administering agency before applying. Last verified: June 15, 2026.