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New Hampshire Mortgage and Refinance Rates

On Tuesday, June 06, 2023, the national average 30-year fixed mortgage APR is 7.05%. The national average 30-year fixed refinance APR is 7.13%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

Bankrate has offers for New Hampshire mortgage and refinances from top partners that are well below the national average. Compare, apply, and start saving today.

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Current mortgage rates in New Hampshire

As of Tuesday, June 6, 2023, current mortgage interest rates are 7.02% for a 30-year fixed mortgage and 6.35% for a 15-year fixed mortgage. The homeownership rate in New Hampshire is about 71 percent, according to U.S. Census Bureau estimates, and median home sale prices have been steadily creeping upward in recent years, the New Hampshire Housing Finance Authority reports. Mortgages in New Hampshire are offered by private lenders as well as the state’s housing authority, which runs a variety of programs designed to make homeownership more accessible.

Refinance rates in New Hampshire

Like purchase-loan rates, refinance rates have been trending upward in New Hampshire. If you’re considering refinancing, use Bankrate’s mortgage calculator to figure out what the monthly payments would be and determine how much you may save by resetting your mortgage.

How to find the best mortgage rate in New Hampshire for you

It’s always best to shop around to find the most competitive mortgage loan. Comparing multiple offers from lenders can save thousands of dollars over the course of a mortgage.

Mortgage options in New Hampshire

New Hampshire is home to nearly 1.4 million people, according to the U.S. Census Bureau. When it comes to mortgages in New Hampshire, options include:

  • Fixed-rate mortgages: Fixed-rate mortgages maintain the same interest rate over the life of your loan, which means your monthly mortgage payment always stays the same.
  • Adjustable-rate mortgages: Unlike the stability of fixed-rate loans, adjustable-rate mortgages (ARMs) have interest rates that fluctuate with market conditions.
  • FHA loans: Backed by the FHA, these home loans come with competitive interest rates, and help make homeownership possible for borrowers without a large down payment or pristine credit.
  • VA loans: VA loans provide flexible, low-interest mortgages for members of the U.S. military (active duty and veterans) and their families.
  • USDA loans: USDA loans help moderate- to low-income borrowers who meet certain income limits buy homes in rural, USDA-eligible areas.
  • Jumbo loans: Jumbo mortgages are home loan products that fall outside FHFA borrowing limits. Jumbo loans are more common in higher-cost areas where home prices are often on the higher end.

First-time homebuyer programs in New Hampshire

The New Hampshire Housing Finance Authority has assisted more than 47,000 families with buying a home over the years. Specific programs offered by the agency that can be helpful to first-time homebuyers include down payment assistance; closing cost assistance; a homebuyer tax credit and discounted mortgage insurance. The household income limit for most of the agency’s programs is $135,300.

  • Home Flex Plus Program: The Home Flex Plus program offers as much as 3 percent cash assistance, which can be used for either a down payment or closing costs. The money is provided via a second mortgage that’s completely forgiven after four years of living in the property, unless you sell, refinance or file for bankruptcy. In any of those scenarios, the loan must be repaid. Applicants must complete homebuyer education to qualify, and the $135,300 income limit applies.
  • Home Preferred Plus Program: Similar to the Home Flex Plus program, Home Preferred Plus provides cash assistance of up to 3 percent of your mortgage loan amount. The money can be used to cover either the down payment or closing costs. Here too, funding is provided through a second mortgage that’s completely forgiven if you live in the property for four years. Should you sell the home, refinance or file for bankruptcy, the cash must be repaid. Home Preferred Plus is designed for borrowers whose incomes are as much as 80 percent of area median income (AMI).
  • Home Start Homebuyer Tax Credit: Specifically created to make homeownership more affordable for first-time buyers, the Home Start Homebuyer Tax Credit, a mortgage credit certificate (MCC), allows borrowers to claim a federal tax credit for a portion of the mortgage interest paid each year, up to a maximum of $2,000. The credit is available for the life of the original mortgage as long as you live in the home. In order to qualify, buyers must have New Hampshire Housing financing and must not have owned a home in the past three years or be purchasing a home in a targeted area. In addition, participants are required to complete a homebuyer education course.
  • Purchase Rehab Mortgage: If that first home you’re eyeing happens to be a fixer-upper property, New Hampshire Housing’s Purchase Rehab program will provide as much as $35,000 to assist with repairs and upgrades. The program can be combined with the Home Flex Plus mortgage, with the rehab money added to the mortgage and a requirement of as little as 3.5 percent down on the property. The funds can be used to pay for such things as cosmetic repairs, energy-efficiency improvements and safety improvements, but not structural upgrades. Like many of the agency’s other programs, the borrower’s household income must be $135,300 or less.
  • Home Preferred Program: For first-time homebuyers or current homeowners seeking to keep their monthly mortgage costs to a minimum and/or refinancing, the low mortgage insurance option, Home Preferred, may be an option. The program provides 97 percent mortgage financing with discounted mortgage insurance. Eligibility is limited to those whose incomes are no higher than 80 percent of the area median income (AMI).

Additional New Hampshire mortgage resources