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New Hampshire Mortgage Rates

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Use SmartAsset's mortgage comparison tool to compare mortgage rates from the top banks and find the one that best suits your needs.

Overview of New Hampshire Mortgages

New Hampshire is known for its White Mountain trails, quaint covered bridges and influential presidential primaries. Historical mortgage rates in New Hampshire tend to be at or below the national average rates. The counties’ conforming loan and FHA limits are mostly standard with a few higher-than-average exceptions.

Today's Mortgage Rates in New Hampshire

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National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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New Hampshire Mortgage Rates Quick Facts
  • Average Home Value: $230,800 (zillow.com)
  • Loan Funding Rate: 60.8%
  • Average Mortgage Rate: 4.01%
  • Homeownership Rate: 71.6% (St. Louis Fed)
  • Average Annual Mortgage Payment: $10,586

Historical Mortgage Rates in New Hampshire

New Hampshire, with its picturesque towns, expansive wilderness and mountain views, is a quintessential New England state. It’s also one of the smallest states in the nation, clocking in at the bottom 10 for both size and population.

New Hampshire mortgage rates typically run very close to or below the national average. Current 2016 mortgage rates are just barely below the average national mortgage rate.

New Hampshire Historic Mortgage Rates

YearNew Hampshire RateU.S. Rate
198215.9214.73
198312.8012.26
198412.6111.99
198511.3911.17
19869.829.79
19878.758.95
19889.298.98
198910.149.81
19909.789.74
19919.169.07
19927.947.83
19936.976.93
19947.857.31
19957.917.69
19967.727.58
19977.647.52
19987.106.97
19997.387.14
20008.177.86
20017.076.94
20026.606.44
20035.745.67
20045.555.68
20055.755.85
20066.396.54
20076.446.42
20086.056.06
20094.875.05
20104.654.81
20113.964.56
20123.703.65
20133.793.84
20144.014.13
20153.833.88

New Hampshire Mortgages Overview

Property in most of the Granite State is on par with the nation’s average. The average home sells for $237,835, which is right in line with the nation’s average of $236,450, according to Zillow.

New Hampshire Mortgage Rates

Single-Family Homes
Percentage of Homes87.60%
Average Property Value$145,520.08
Condominiums
Percentage of Homes11.80%
Average Property Value$98,333.27
PUD Homes
Percentage of Homes0.40%
Average Property Value$151,529.18
Townhomes
Percentage of Homes0.20%
Average Property Value$104,841.55

The conforming limit for most of New Hampshire’s 10 counties is the standard $417,000, except for Rockingham and Stafford, whose conforming and FHA limits are both at $523,250. This is an indication of the higher home prices in those counties. The other FHA loan limits are also uniform at $271,050, except for Hillsborough where it’s $295,550.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Belknap$417,000$271,050
Carroll$417,000$271,050
Cheshire$417,000$271,050
Coos$417,000$271,050
Grafton$417,000$271,050
Hillsborough$417,000$295,550
Merrimack$417,000$271,050
Rockingham$523,250$523,250
Strafford$523,250$523,250
Sullivan$417,000$271,050

It’s important to know that New Hampshire is a “deed of trust” state. This means that when you get a home loan in New Hampshire, you will likely receive a deed of trust in lieu of a mortgage. Lenders who issue mortgages have to go to court to foreclose on the home that the mortgage applies to. If a deed of trust is issued, court can be avoided altogether. Instead lenders can hire a third party to auction the home they are foreclosing and initiate a “power of sale” foreclosure.

There is also a standardized disclosure form that sellers in New Hampshire are required to fill out. This form addresses the physical condition of the home, as well as any defects. Regardless, a quality home inspection is still the best way to feel confident in a property purchase.

30-Year Fixed Mortgage Rates in New Hampshire

If you are looking for a piece of the Granite State to call your own, you’re likely in the market for a mortgage. The most common type of home loan is a 30-year fixed-rate mortgage. This home loan can be a good option for buyers who are plan to stay put for a long time. A 30-year fixed-rate mortgage gives you a long time to pay off the loan – 30 years, unless you refinance or make prepayments – and the interest rate remains the same the entire time, which makes it easier to budget.

Other fixed-rate options are 15-year and 40-year terms. With a 15-year fixed-rate mortgage, you will pay off your loan faster and will have a lower interest rate, but monthly payments are higher. A 40-year fixed-rate mortgage is generally a less popular option both because it takes so long to pay off the loan and because you end up paying a lot in interest.

The average New Hampshire mortgage rate for fixed-rate 30-year mortgages is 4%.

New Hampshire Jumbo Loan Rates

New Hampshire county conforming loan limits are uniform at $417,000, except for Rockingham and Stafford, whose limits are at $523,250. A “conforming” loan is one that is at or lower than the conforming loan limit in a particular county. If you take out a loan that exceeds that amount it is what’s considered a “non-conforming” or “jumbo loan.” Conforming loans can be re-sold on the secondary mortgage market and are eligible for normal interest rates. Jumbo loans, in contrast, have higher interest rates, which is something to keep in mind if your dream home in New Hampshire requires you to take out a jumbo loan.

The average jumbo loan rate in New Hampshire is 4%.

New Hampshire ARM Loan Rates

Another home loan option that you will want to be aware of is an adjustable-rate mortgage (ARM). The key distinguishing difference between an ARM and a fixed-rate mortgage is that an ARM usually comes with a lower initial interest rate. That lower rate is offered for a certain period of time between one and 10 years, which is specified in the loan’s terms. However, when that period ends, the interest rate can change. While the interest rate can go up or down, it will usually go up. Before deciding if an ARM is the right mortgage option for you, you need to check the loan’s terms carefully: the terms will specify the highest possible rate that the interest can jump to. So it is important to assess whether or not that maximum potential interest rate is one that fits within your budget.

The average rate for an ARM in New Hampshire is 2.5%.

New Hampshire Mortgage Resources

If you need help purchasing a home in the Granite State, there are resources out there to provide financial assistance for homebuyers.

Homebuyers looking for down payment and closing cost assistance can apply with the New Hampshire Housing Finance Authority. It also offers free homebuyer education classes, emergency home repair loans and the Home Start Homebuyer Tax Credit Program for first-time homebuyers.

Available Resources

ResourceProblem or IssueWho QualifiesWebsite
New Hampshire Housing Finance AuthorityRefinancing, down payment and closing cost assistance, home repair loans and tax credit program.First-time homebuyers and homeowners who need assistance.https://gonewhampshirehousing.com/buying-home/our-mortgage-programs
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability. Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.http://www.rd.usda.gov/programs-services/all-programs/single-family-housing-programs
Home Affordable Refinance ProgramRefinancing.Single family homes and condos that fit within lending loan limits.http://www.harp.gov/

Another option that is available in several states is a program from the United States Department of Agriculture Rural Development. The USDA offers programs in rural communities to help residents secure affordable new homes or repair their current homes. It is worth seeing if you qualify for help from the USDA.

New Hampshire Mortgage Taxes

New Hampshire charges transfer taxes on real estate transactions. The transfer tax is $0.75/$100 or 1.5%, which is paid by both the buyer and the seller. There is also a $20 minimum tax on transfers of $4,000 or less.

Homeowners are allowed to deduct the mortgage interest they pay throughout the year from their taxable income when they file federal taxes. In states that allow itemized deductions, homeowners can usually deduct mortgage interest on their state income taxes as well. However, this rule does not apply in New Hampshire because the state does not have an income tax on an individual’s W-2 reported wages or a general sales tax.

New Hampshire Mortgage Refinance

If eligible, New Hampshire homeowners who want to refinance can use the state Home Affordable Refinance Program. Owners who qualify can access interest and principal payment reductions and low closing costs. The New Hampshire HARP accepts single family homes and condos.

The New Hampshire Housing Finance Authority also offers a couple refinance options. The Home Flex Streamline refinancing programing is available for government-issued loans and includes low interest rates and no appraisal requirements. Home Preferred refinancing offers a conventional financing option with a low mortgage insurance coverage requirement with limited cash out.

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2015 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset