What Is a Mortgage Preapproval? | How Much Will My Monthly Payment Be? | How Much Will My Down Payment Be? | How Long Does a Mortgage Preapproval Last? | What Is the Difference Between a Standard Preapproval and an Underwritten Preapproval?
Your mortgage rate in the Granite State will depend on a wide variety of factors, including your credit score, how much of a down payment you can put down, your debt-to-income ratio, and your level of income. If you’re planning to buy a home in New Hampshire, you’ll want to take a few steps to ensure you are getting the best mortgage rate possible.
Checking your credit before you apply for a home loan, making sure all of your documentation is in order, and getting preapproved by a reputable mortgage lender are all good ways to help yourself get the best mortgage rate in New Hampshire.
Here’s a quick look at current New Hampshire mortgage rates:
|Loan Program||Mortgage Rate||APR*||1 Day Change|
|Conventional 30 year fixed||6.022%||6.117%||+0.16%|
|Conventional 20 year fixed||5.518%||5.66%||Unchanged|
|Conventional 15 year fixed||5%||5.167%||-0.02%|
|Conventional 5 year ARM||5.667%||6.598%||-0.11%|
|FHA 30 year fixed||5.75%||6.476%||Unchanged|
|VA 30 year fixed||5.163%||5.448%||-0.06%|
|VA 15 year fixed||4.667%||5.343%||Unchanged|
|VA 5 year ARM||5.344%||6.387%||Unchanged|
Thinking about buying a home in New Hampshire? This could be a great time to find your dream home in the Granite State. Here’s what you need to know:
New Hampshire has a dense population of around 1.3 million people, and one in four dwell in the state’s top five biggest cities:
Next, find out how much home you can afford. New Hampshire ranks 20th in US homes for sale at average price, and 39st for homes over $1,000,000. Getting preapproved can help you know what your budget is before you go house hunting.
There are several first-time homebuyer loan programs through programs administered by the New Hampshire Housing Finance Authority (also known as New Hampshire Housing):
The New Hampshire Housing Home Flex Plus program offers down payment and closing cost assistance equal to up to 4% of your mortgage as a second mortgage. It can be forgiven in full after four years of living in the home, unless you sell your home, refinance the first mortgage, or file for bankruptcy, in which case the loan must be repaid.
The New Hampshire Housing Home Preferred Plus program also offers forgivable down payment and closing cost assistance up to 4% but is paired with a conventional loan for up to 97% financing and discounted mortgage insurance.
To qualify for these first-time home buyer programs in New Hampshire, you’ll need:
Several options are available that will help you refinance a home in New Hampshire and take advantage of favorable New Hampshire mortgage rates:
You may qualify for a streamlined refinance if you have the right kind of loan. Ask your lender for more information.
Use our free mortgage calculator tools to estimate your monthly mortgage payments based on your unique loan scenario. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.
Wondering what your monthly mortgage payment might be? Plug in your data to get an instant mortgage payment estimate.
Military service can mean eligibility for a no-down payment mortgage. Find out if you qualify for a VA home loan.
Designed for first-time and low-income homebuyers, an FHA loan could put you on the path to home ownership fast.
Seeking to refinance? Find out how much you can save in interest over the term of your home loan by refinancing now.
Each step-by-step guide is designed to shepherd you through a process from start to finish. Know what to expect and how to proceed, no matter where you are in your home buying journey.