Current New Hampshire Mortgage and Refinance Rates
Mortgage interest rates currently average 6.06% for 30-year fixed loans and 5.22% for 15-year fixed loans.
Refinance rates in New Hampshire
30-year FIXED
Current refinance rates are averaging:
6.48%
15-year FIXED
Current refinance rates are averaging:
6.06%
- Rate-and-term refinances allow a borrower to alter their interest rate or loan term — or both. A longer loan term, like a lower interest rate, will reduce your monthly mortgage payment. In New Hampshire right now, refinance rates are higher than purchase mortgage rates for borrowers using conventional loans. However, the reverse is true for FHA loans.
- Cash-out refinances replace a current home loan with a new one for a larger amount. The cash difference is yours to do with what you wish, and is secured by your home equity. Expect to pay higher rates than you would with a rate-and-term refinance.
- Conventional refinances are defined by the fact that they’re not part of a government loan program. They typically come with higher rates than government-backed refinances.
- FHA refinances are backed by the Federal Housing Administration (FHA) and come with more forgiving qualifying requirements. New Hampshirites applying for loans may see FHA refinance rates nearly a full percentage point lower than conventional rates.
- VA refinances are guaranteed by the U.S. Department of Veterans Affairs (VA) and cater to veterans and other qualified military borrowers.
See whether refinancing makes sense for you using our mortgage refinance calculator.
What is the current mortgage rates forecast?
The current mortgage rates forecast states rates will remain around 6.0% in early 2026.
Home prices are still high and inflation does not seem to be slowing for now, so potential homebuyers should focus on improving their financial qualifications to be eligible for the lowest rates on their New Hampshire home loan. This will be the most effective way for homebuyers to get their most affordable monthly payment.
How do I get the best mortgage rate for my New Hampshire home loan?
To get the best mortgage rates, you’ll need to understand which factors determining mortgage rates are within your control. Here are a few steps you can take to get more competitive offers today:
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Boost your credit
Your credit score is a powerful factor influencing the mortgage rates you’ll be offered. A higher score means less risk for lenders, which in turn means lower rates for you as a borrower. -
Lower your debt-to-income (DTI) ratio
It may sound technical, but a DTI ratio is just a way for lenders to understand how heavily your current debt load is weighing on your finances. If you want lower rates, you can take steps to lower your DTI like increasing your income, paying off debt or getting a mortgage cosigner. -
Buy a single-family, site-built home
Lenders view certain types of housing as more risky to lend money for. Avoid buying a manufactured home, a property with more than one unit, a vacation home or an investment property, and you’ll see lower rates. -
Pay for mortgage points
Mortgage points are purchased at closing and each point typically reduces your interest rate by up to 0.25 percentage points. Buying down your interest rate can work to your advantage, but make sure you compare the savings you’ll see using points to other scenarios — for instance, how much you might save by simply putting those funds toward reducing your principal balance. -
Compare offers from multiple lenders
Sometimes the simplest strategies save you the most money. Shopping with three to five lenders, then choosing the best rate can save you thousands — or even tens of thousands — of dollars, according to LendingTree data.
Read more about our picks for the best mortgage lenders.
Once you’re ready to move forward with a loan offer, you can request that your lender give you a mortgage rate lock. When your rate is locked in, it can’t increase for a set amount of time. This gives you a window of opportunity to make it to closing without having to worry about rising rates.
New Hampshire home loan programs
New Hampshire Housing down payment and closing cost help
The New Hampshire Housing Finance Authority (NHH) offers purchase mortgages that come with up to $10,000 that can be used toward a down payment or closing costs, and these latter funds are fully forgivable. As long as you don’t sell, refinance or file for bankruptcy during the first five years of your loan, you won’t have to repay the money. NHH has the flexibility to work with buyers of many income levels, and you don’t have to be a first-time homebuyer to qualify.
Who qualifies
Borrowers must:
- Choose an NHH program appropriate to their income level:
- Home First for incomes up to $145,600 for a one- to two-person household or up to $169,900 for a household with three or more people
- Home Flex Plus for incomes up to $169,900 (must be used with a government-backed loan)
- Home Preferred Plus for incomes up to 80% of your area’s median income (AMI)
- Home Preferred Plus Over 80% AMI for incomes above 80% of your area’s median income, up to $169,900
- Purchase a home within the program’s price limits:
- Home First: Up to $590,000 for a single-family home, but the purchase price limits vary by location and number of units
- Home Flex Plus: No limit
- Home Preferred Plus: No limit
- Home Preferred Plus Over 80% AMI: No limit
- Complete a homebuyer education course
- Have a minimum 620 credit score
1stGenHomeNH
This program, also from New Hampshire Housing, is exclusively for first-generation homebuyers. Like the programs covered above, it offers a forgivable second mortgage for up to $10,000. However, the big perk here is that 1stGenHome funds can be used in addition to any money you’ve acquired from other down payment assistance programs, including other NHH programs (including those listed above). That means that if you qualify for a 1stGenHomeNH loan, you have the potential to access $20,000 total in down payment and closing cost assistance from NHH.
Who qualifies
Borrowers must:
- Use the funds in conjunction with a NHH first mortgage
Borrowers and their spouses must*:
- Qualify as first-generation homebuyers, which means that you:
- Don’t currently own a home
- Haven’t previously owned a home
- Your parents haven’t owned a home in your lifetime
*Exceptions are granted for:
- Borrowers who have ever been in foster care
- Borrowers who are refugees or in the United States under asylum status granted by the United States Citizenship and Immigration Services (USCIS)
Portsmouth HomeTown Program
First-time homebuyers in Portsmouth, N.H., can access up to $65,000 in down payment and closing cost assistance through the Portsmouth Housing Endowment Trust Fund (PHEF). The funds come in the form of a repayable second mortgage and, in some cases, a third mortgage. Neither of these loans come with interest or monthly payments, but the second mortgages must be repaid after 10 years. Third mortgages don’t have to be repaid unless you sell or transfer ownership of the house.
Who qualifies
Borrowers must:
- Have lived in Portsmouth for at least two years or previously lived in the city for 10 years and currently reside within 30 miles of it*
- Be first-time homebuyers
- Purchase a home in the city of Portsmouth
- Make less than the program’s income limits
- Contribute at least 1% of the purchase price from your own funds
- Take a homebuyer education course
*An exception to this requirement will be made for full-time City of Portsmouth employees.
Who qualifies as a first-time homebuyer?
- People who have never owned a home
- People who haven’t owned a principal residence in the last three years
Learn about different types of NH mortgage loans
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New Hampshire conventional loans
You’re likely familiar with conventional loans, which many consider the industry standard. If you have at least a 620 credit score and can make a 3% down payment, they’re a great option. -
New Hampshire FHA loans
For borrowers who can’t meet conventional loan requirements, FHA loans can be a better choice. FHA loan requirements are far more forgiving, allowing borrowers with a minimum 500 credit score to purchase a home with a 10% down payment. However, if your score is at least a 580, you can put down as little as 3.5%. -
New Hampshire VA loans
VA loan requirements are even more flexible, since they’re designed to put homeownership in reach for as many military borrowers as possible. Those with qualifying service histories can purchase or refinance without making a down payment or paying for mortgage insurance. -
New Hampshire streamline refinances
are for borrowers looking to refinance from an FHA loan into another FHA loan or from a VA loan into a new VA loan. You can access these options through an FHA streamline refinance loan or VA interest rate reduction refinance loan (IRRRL). They’re known as “streamline” refinances because they require less time, paperwork and hassle than other refinances.