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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 Mortgage?
No Surprises
No Surprises
With over 150 years of collective experience, our mortgage brokers have seen it all. This level of expertise enables us to anticipate and quickly resolve any issues that might arise and close on time, every time.
Personalized Services
Personalized Services
Buying a home is one of the biggest purchases you’ll make in your entire life. That’s why our brokers are available via phone 24/7 to address any concerns or answer any questions you might have about the mortgage process.
Competitive Rates
Competitive Rates
Blue Water is locally owned, so we aren’t beholden to banks. That means we’re able to offer a more diverse portfolio of mortgage products tailored to your specific needs, as well as more competitive rates and lower closing costs.
Rated five stars by our amazing customers.

Roger worked with me on an extremely complicated deal, and his knowledge, persistence and excellence helped to pull everythin…

Adam Merrill

We have worked with Blue Water Mortgage group several times over the years, they helped with our home purchase, sale and refi…

Angie Hoxie

We had a fantastic experience with Blue Water Mortgage. We were referred to them by two of our friends, we would definitely r…

Ashley Acksel

They were wonderful to work with. I highly recommend them. Not only were they able to get me the best/lowest rate easily but …

Nathaniel Toutenel

We started my home buying experience we where told by many mortgage companies we had to wait 3 years. I was doing a VA loan. …

Mark Johnson

Jason and Ann are the new Dynamic Duo! Our situation was less than perfect. Jason and Ann worked to make our dreams a reality…

Lisa Finch

It is rare to find a business that is so dedicated to its customer base. Blue Water Mortgage was able to close faster than mu…

Ryan Goulding

Working with Blue Water Mortgage Corp was a great experience. My wife and I could not be happier with the process. We felt li…

Richard Genest

Excellent experience. Roger and his team work unbelievably hard to get the job done. Always available and happy to explain/ad…

Silas Laycock

As a first time home buyer, I had no idea where to begin with the mortgage process. Our realtor referred us to Blue Water to …

Steph Cormier

Blue Water Mortgage is fantastic! We just recently refinanced with them again, and it was smooth sailing. We contacted them a…

Sarah Natt

Blue Water Mortgage has a team of people behind the scenes that most us never see. I was fortunate enough to meet several of …

Tom Carroll

It’s hard to know who to trust in this day and age, but I would highly recommend Blue Water Mortgage to anyone! Their g…

Scott Welty

We had a very quick home search process Kristina and Paula made it happen for us! Kristina was in constant communication to k…

The Baileys

As a first time home buyer my experience with Blue Water Mortgage was excellent. Jim Collins was recommended to me by my real…

Kristina C.
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Frequently Asked Questions

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)?

The Mortgage Process

Blue Water’s mortgage loan process timeline involves a series of five steps, some of which require sitting down with one of our experts to analyze all aspects of your financial health. Here’s what you can expect:
1. Getting to Know You & Getting On Track
In our first meeting, we’ll answer your questions and talk about the programs we offer that would best fit your situation.
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2. Getting Pre-Qualified
The next step in the mortgage loan process is applying for pre-qualification, which enables us to confidentially verify your credit, income, assets, and liabilities.
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Assessing Loan Programs & Rates
At this point, we’ll start to sort through and evaluate which mortgage best fits your needs.
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Obtaining Loan Approval
Once you’ve submitted your loan application, we’ll work with our lenders to help find you the best rate and most favorable terms possible.
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Closing the Loan
After your loan is approved, we’ll review the details once more to make sure you feel confident about the financial commitment you are about to make. Once all of your questions are answered, we will schedule a closing.
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Home Loan Resources

10 Questions to Ask When Buying a Home
eBook

This ebook will help you better understand the home buying process so you can make a more informed buying decision.

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Worksheet

Use our Down Payment Worksheet to get a idea of what you can afford to spend.

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Checklist

Before you start looking at properties it's best to figure out what you can't live without.

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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.