Down Payment Assistance

 

THE AMERIDREAM/NEHEMIAH PROGRAM

Provides gift funds to any qualified home buyers who purchase participating homes using an eligible home program which allows gifts from charitable organizations

• Both home buyer and seller must agree to participate in the program
• Gift amount between 1%-6% allowed, based on final contract sales price
• Nominal processing fee may be paid by seller, lender or home buyer
• Requires no repayment, no second mortgage and no tax penalties
• No income limits or geographic restrictions

 

NEW HAMPSHIRE HOUSING CASH ASSISTANCE PROGRAM

Provides grant funds to low and moderate income home buyers who have not owned a home in the past 3 years or are current home owners purchasing in a targeted area

• Grant amount up to 4% of base loan amount
• Home buyer must contribute a minimum 1% of contract sales price from their own funds (excluding any gifts)
• Requires no second mortgage or monthly repayment
• If mortgage is paid off within the first 48 months, the full amount of the grant must be repaid with the mortgage payoff. After 48 months, the full amount of the grant is forgiven.
• Income and purchase price limits and some geographic restrictions apply