Purchasing your first home should feel rewarding– not intimidating.
Closing on your first home is a milestone worth celebrating. At The Merrimack, we offer a variety of programs to help you seamlessly transition from renter to owner.
We’ve built our reputation on knowledge, service, and giving our customers our undivided attention. Our Mortgage Specialists are standing by to review the details and tailor an individualized lending solution. Explore our most common first‑time homebuyer programs:
Federal Housing Administration (FHA) Mortgage
What is the FHA?
The FHA is a division of the US Department of Housing and Urban Development (HUD)
What is the benefit?
As little as 3% of the purchase price of the property may be required as a down payment.
Who qualifies?
FHA requires that certain criteria, such as employment, credit ratings, and income levels are met.
New Hampshire Housing Finance Authority (NHHFA) Loan
What are the benefits?
- Often the lowest rates available fixed for the term of your loan
- Minimal down payment
- Closing cost assistance
Who qualifies?
First-time homebuyers who meet certain income and purchase price criteria.
Rural Economic Development (RECD) Loans
What is RECD?
RECD is a division of the US Department of Housing and Urban Development (HUD)
What is the benefit?
You may qualify for a loan with no down payment.
Who qualifies?
RECD requires that certain criteria, such as employment, credit ratings, and income levels are met.
Do you qualify?
Work with our Mortgage Specialists to determine if one of these programs is right for you.
*Information is accurate as of December 15, 2016, and subject to change.