Current New Hampshire Mortgage and Refinance Rates

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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Current 30-year fixed mortgage rates are averaging: 7.23%

Current 15-year fixed mortgage rates are averaging: 6.68%

Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners on the previous day for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.

Compare NH mortgage rates today

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Refinance rates in New Hampshire

  • 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.

Current 30-year fixed mortgage refinance rates are averaging: 7.46%

The current average rate for a 15-year fixed mortgage refinance is: 6.90%

Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners on the previous day for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.
See whether refinancing makes sense for you using our mortgage refinance calculator.

 What is the current mortgage rates forecast for 2024?

The current mortgage rates forecast calls for cautious optimism, as we enjoy an over eight-week stretch of rates under 7%. Our market expert, Jacob Channel, expects 30-year rates to remain between 6% and 7% for most of 2024, with the potential to go even lower by the end of the year.

With progress on inflation looking strong, investors and market-watchers are all hoping the Federal Reserve could start cutting interest rates soon. That said, a little patience is still needed, since a cut isn’t likely to come before mid-spring, at the earliest.

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

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 When should I lock in my mortgage rate?

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.

2024 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

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Learn about different types of NH mortgage loans

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.

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