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NHHFA: New Hampshire Housing Finance Authority Alternatives

Better Alternatives Every Homebuyer Should Know

The New Hampshire Housing Finance Authority (NHHFA) has proven to be a great resource for homebuyers looking for a broad range of flexible and affordable homeownership programs. Since its inception in 1981, more than 39,000 Granite State residents have used one of NHHFA’s mortgage programs to purchase their own homes—the most popular of which is the Home Flex Plus program that offers a 3% down payment option for a single family home and no mortgage insurance, among other features. Other options allow for as little as 1% down payment from the borrower’s own funds or a 5% down payment for a 2–4 unit multi-unit home.

But the NHHFA isn’t the only solution for cash-strapped borrowers looking for a way to own a home.

Blue Water Mortgage offers a comparable 3% lender credit, as well as a lower interest rate compared to the NHHFA rate. In addition, mortgage products offered by Blue Water come with no additional income restrictions in order to qualify and the underwriting process can generally happen much faster. First time home buyers looking for an alternative to the NHHFA should look to Fannie Mae and Freddie Mac’s 3% down programs.

Both Fannie Mae and Freddie Mac also offer a 3% down program for FTHBs that can rival NH Housing Finance Authority’s program. In addition, both Freddie Mac’s Loan Prospector (LP) and Fannie Mae’s Desktop Underwriter (DU) automated underwriting system are now able to offer reduced mortgage insurance at the broker level.

Why Blue Water?

Blue Water’s team has over 150 years of collective mortgage experience we have the knowledge and ability to get your loan closed on time with the best terms and lowest rates for you.

Frequently Asked Questions

Can we roll closing costs into the loan on a purchase?
Do I have to pay mortgage insurance for the life of the loan
Do I have to provide cancelled rent checks if I’m a first time home buyer?
Can I exclude debts that I co-signed (contingent liability)?
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Blue Water Mortgage Customer Reviews

The loan experience could not have been any better. As a first-time Home Buyer, I had questions and Blue Water Mortgage was willing and able to answer them all.  I would recommend Blue Water to anyone looking for a home mortgage.

Jane S. Bedford, NH

I would recommend the organization with a 10 out of 10. They worked through a ton of grey area to get through a few last minute road blocks. I really felt like they were putting in the extra effort for me. I would absolutely recommend Blue Water to any first time home buyer.

Dan V. Kittery, ME

My experience with Blue Water Mortgage was fantastic. The representatives were very professional and treated me as though I was their most important customer. I was a first time home buyer and Blue Water Mortgage took the stress out of a normally stressful process.

Chris D. Longmeadow, MA

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Please be advised that your actual rate, payment, and cost could be higher. Get an official Loan Estimate before choosing a loan. This estimate is provided for informational purposes ONLY, to assist you in determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment. Actual charges may be more or less, and your transaction may not involve a fee for every item listed.

Rate and APR based on the following assumptions: Purchase Price of $250,000, loan amount of $200,000, 80% loan to value, 740 credit score, single family property, primary residence, escrowing taxes and insurance, debt ratio within program guidelines.