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Today's Mortgage Rates in New Hampshire

Today’s mortgage and refinance rates plus current home buying and refinance advice for New Hampshire residents

Buying a home in New Hampshire

New Hampshire’s state motto is "Live Free or Die," and this is exemplified in the fact its legislators are not at all keen on excessive homebuyer regulation. Not only does New Hampshire lack many laws requiring a property seller to write a formal disclosure statement about any structural problems to a potential buyer, but the state courts enforce "caveat emptor" ("let the buyer beware") clauses in purchase contracts. Under this doctrine, judges will more often than not refuse to compensate a buyer for any home defects found after the purchase. All this means, in New Hampshire, it would be well worth your while to carry out your own inspection before signing any contract. Of course, once all this is completed, it will be time for the closing itself.
  1. Just prior to the closing, a title search will be run
  2. Then the buyer’s attorney will prepare the paperwork for changing the title
  3. A closing date will be chosen
  4. A final cash figure is calculated for the amount the buyer has to bring to the closing. This is usually a cashier’s check
  5. At the closing, a final walkthrough will take place to verify that everything is in order
  6. The buyer and seller sign all closing documents
  7. The title company representative or your attorney will then record the transaction and deed
  8. The buyer receives the keys and takes possession of the property

Refinancing a home in New Hampshire

Most homeowners in New Hampshire can go ahead and refinance their mortgages in the normal way. There don’t seem to be any onerous, state-specific laws or regulations to hem them in. The New Hampshire Housing Finance Authority (NHHFA) has a couple of refinance programs that might help some borrowers (both links to PDFs):
  1. Home Flex streamline refinance
  2. Home Flex refinance
However, these can only assist homeowners with existing government-backed mortgages from the US Department of Veterans Affairs (VA loans), the Federal Housing Administration (FHA loans) or the US Department of Agriculture (USDA loans, aka Rural Development or RD loans). Check out the PDFs at the ends of those links for restrictions and details. And call the NHHFA if anything’s unclear or you have queries. A couple of bright spots: you may come away with a check for up to $500, even if you opt for the streamline version. That’s one that’s light on paperwork and checks. And the maximum combined loan-to-value ratio (CLTV) can be up to 125%. That means it may be possible, in some circumstances, to borrow up to your home’s current market value — plus 25%. This could be very handy if you live in a cool spot where home prices haven’t recovered from the slump during and after the Great Recession. Because it means you might be able to refinance to a lower rate and lower monthly payment, even if your home’s "underwater" (you owe more on your mortgage than your home’s currently worth).

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