First-Time Home Buyer Programs in NH, MA and ME

September 2, 2026 7 min readBy Matt Hoegen, Matt Hoegen NMLS #2178724

Most people who assume they need 20% down are surprised to learn how much help exists for first-time buyers in New England. New Hampshire, Massachusetts and Maine each run a state housing finance agency with below-market first mortgages and down payment assistance, and those programs stack on top of the low-down-payment federal loan options. Here is a practical map of what is available and who qualifies.

First, what "first-time buyer" actually means

For most agency programs, a first-time buyer is anyone who has not owned a primary residence in the past three years. That means previous homeowners frequently re-qualify. Some programs also waive the requirement entirely in designated target areas or for qualifying veterans.

New Hampshire

New Hampshire Housing offers first mortgages paired with down payment assistance for buyers who meet income and purchase price limits and complete a homebuyer education course. The assistance is typically structured as a second mortgage that covers down payment and closing costs, so the cash you bring to the table can be very small.

Income and purchase price limits vary by county and household size.
Homebuyer education is generally required.
The property must be your primary residence.

Because New Hampshire property taxes are high and vary sharply by town, the town you choose affects your qualifying payment as much as the program you choose. See how much house you can afford in NH, MA and ME for the math.

Massachusetts

Massachusetts has the deepest bench of assistance in the region. The two best-known routes are MassHousing mortgages, which pair a conventional loan with down payment assistance and mortgage payment protection benefits, and the ONE Mortgage program, which offers a low-down-payment loan with a subsidized second and no private mortgage insurance for income-eligible buyers.

Income limits are set by area and are more generous in higher-cost counties.
Many cities and towns run additional local assistance funds on top of state programs.
Condominiums are eligible when the project meets agency and lender requirements.

Maine

MaineHousing's First Home Loan program provides a low fixed-rate mortgage, and its down payment and closing cost assistance option can cover most or all of the cash needed to close for eligible buyers. Salute ME and similar veteran-focused offerings provide a rate reduction for qualifying veterans and active-duty service members.

Income and purchase price limits apply and vary by county and household size.
hoMEworks homebuyer education is generally required.
Much of rural Maine is also eligible for zero-down USDA financing.

Federal loan options that pair with state assistance

Conventional 97: 3% down for qualifying first-time buyers, with cancellable PMI.
FHA: 3.5% down with a 580+ score, and more flexible credit and debt-to-income guidelines. See our full guide to FHA loan requirements in NH, MA and ME.
VA: zero down and no monthly mortgage insurance for eligible veterans and service members. Details in our VA loan guide.
USDA: zero down in eligible rural areas across all three states.

What to do before you shop

Get a fully underwritten pre-approval so your offer competes.
Complete the homebuyer education course early, it is required and can take a few hours.
Document gift funds properly; agency programs have specific sourcing rules.
Confirm current income limits and program funding, which change periodically.

Program terms, income limits and funding availability change, so confirm the current specifics before writing an offer. If you would like me to check which programs you qualify for in your town, call 603-391-6306 or send me your details.

This article is for general educational purposes only and is not a commitment to lend, a credit decision, or an offer of a specific rate or term. Payment examples are illustrative, exclude actual rates and fees, and are not an advertisement of credit terms. Program guidelines, income limits, loan limits and property tax and insurance costs change and vary by program, municipality and property. All loans are subject to credit approval, income and asset verification, and property appraisal. Elite Mortgage Group NMLS #2502308MBR | Matt Hoegen NMLS #2178724. Licensed in New Hampshire, Massachusetts & Maine. Equal Housing Opportunity.