First-time home buyer programs in New Hampshire and Manchester

What does New Hampshire Housing offer?

New Hampshire Housing sells 30-year fixed-rate mortgages through approved lenders. You do not apply to the agency directly: you contact a participating lender. The agency’s program page lists these options:

Sources: New Hampshire Housing, “Mortgage Programs”, “Steps to Homeownership” and Program Comparison Matrix (effective July 6, 2026).

Lenders must apply the matrix rules: a credit score of at least 620, and on the conventional programs a loan-to-value ratio of 97% and a combined ratio, with the cash help, of 105%.

How does the cash help work?

The cash help is not a gift. New Hampshire Housing says it is secured by a second mortgage at 0% interest, with no monthly payments and a 30-year term. It is due in full if you:

1. sell the home;
2. refinance;
3. file for bankruptcy;
4. stop living in the home as your primary residence; or
5. reach the end of the 30 years.

The cost shows up somewhere else: the rate. On the agency’s rate page on October 13, 2026, the 30-year First Government rate was 6.750%, and the version with $15,000 in cash help was 7.625%. Rates change daily, so check the page before you decide.

A worked example

This is an illustration, not a quote. Take a $400,000 home bought with a government-insured loan at 96.5% of the price, so a loan of $386,000 and a $14,000 down payment.

Payotte’s calculation from the published rates; it leaves out mortgage insurance, taxes and homeowners insurance.

The cash help costs about $228 more a month in interest, or about $13,700 over five years, and the $15,000 must be repaid when you sell or refinance. A lender can compare both options for your situation.

Who qualifies in Manchester?

Home First has two sets of limits, by city or town. Manchester has the higher limits. The “all other communities” row for the rest of Hillsborough County is lower, so the city’s address matters.

Source: New Hampshire Housing, Home First Program Limits (HFMRB-12, effective July 6, 2026).

More conditions:

• First-time buyer status. The agency defines it as no home ownership in the past three years. Manchester is one of 15 targeted areas where this rule does not apply to Home First. It is also waived for qualified veterans.
• Primary residence. The home must be owner-occupied.
• Education. Preferred Plus over 80% of area median income requires homebuyer education, and 1stGenHomeNH requires face-to-face education. Ask your lender whether another program needs it.

The agency’s own pages disagree on the top income figure: some still show $176,200, while the Program Comparison Matrix (effective July 6, 2026) and the Mortgage Programs page show $184,500. We use the matrix. Ask your lender to confirm the limit that applies to your household.

What help does the City of Manchester offer?

We found little direct help for buyers. The City’s draft FY2026 Annual Action Plan (posted for public comment in April 2026) lists a federal HOME allocation of $581,657 and names homebuyer assistance among the uses HOME funds allow. It then states that “HOME funds will not be used for homebuyer activities in FY2026”. The plan describes HOME money going to uses such as tenant-based rental assistance and housing development.

The plan adds that the Manchester Housing and Redevelopment Authority runs a Homeownership Voucher Program that it describes as “fully utilized”, with 20 families using it. Because the plan is a draft, check the City’s Planning and Community Development office, at (603) 624-6450, for the final version.

For education close to home, New Hampshire Housing’s seminar calendar lists in-person seminars in Manchester on October 24 and December 5, 2026, and its counseling page lists a pre-purchase counseling agency with an office in Manchester.

How to apply

1. Attend a seminar or meet a counselor if you want help before you talk to a lender. See also our guide to the steps of buying a home.
2. Contact a participating lender from New Hampshire Housing’s list and ask to be qualified for one of its loans.
3. Make an offer only after you know your loan amount and the limits for the town.

Related guides: FHA loans, VA loans and private mortgage insurance. The costs of the sale itself are in our page on closing costs in New Hampshire. To see what homes cost, read home prices in New Hampshire and Manchester and buying a home in Manchester.