Today's Mortgage Rates in New Hampshire (August 2024)
Updated: September 4, 2024
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Today's 30-year mortgage rate in New Hampshire is 5.96%, noticeably lower than the national average of 6.42%. New Hampshire homebuyers can access programs like Downpayment and Closing Cost Help and the Homebuyer Tax Credit, potentially leading to significant savings.
MoneyGeek uses publicly available data from Zillow for the rates on this page. Mortgage rates shift daily, and we take a snapshot of rates to analyze rate information for New Hampshire. We update the data frequently to ensure you have access to the most recent rates, but the values may differ slightly between reporting sources.
Unless specifically noted otherwise, rates featured in the content are annual percentage rates (APRs).
This data was last updated on August 2024.
In New Hampshire, the average APR for a 30-year fixed-rate mortgage as of August 2024 is 5.96%, down from 6.7% last month. This decrease means that on a $250,000 mortgage with a 20% down payment, you could save approximately $36,216 in interest over the life of the loan, not including property taxes and HOA fees.
The line chart below shows how even a slight change in mortgage rates can significantly affect the total cost of a loan. It reflects the past month-to-month shifts in these rates, which directly impact your payment plans.
Even small changes in mortgage rates can significantly impact your finances. Understanding the current mortgage rate in New Hampshire can help you budget effectively.
Understanding today's mortgage interest rates in New Hampshire benefits both first-time buyers and refinancers:
First-time homebuyers
Knowing current mortgage rates helps first-time buyers in New Hampshire understand what rates to expect and gauge their competitiveness.
Homeowners with mortgages
Homeowners can assess if a mortgage refinance is wise when current rates in New Hampshire are lower than their existing ones.
Purchase rates and refinance rates differ. For a 30-year fixed mortgage in New Hampshire, the purchase APR is 5.96%, while the refinance APR is 7.60%. This difference impacts your monthly payments and total interest over the loan's life. Keep this in mind when reviewing your mortgage options.
A 30-year fixed-rate mortgage typically has a higher rate than a 15-year one due to the increased risk of rate fluctuations and default over a longer term. Align your mortgage term with your financial plans and risk tolerance.
Mortgage loan types in New Hampshire come at various rates. Use a mortgage calculator to see how rates affect your monthly payments and total loan costs.
| 5.70% | APR5.86% |
An interest rate reflects how much you'll pay annually to borrow money for a mortgage. New Hampshire's average mortgage interest rate for a 30-year fixed mortgage is 5.88%.
An APR (annual percentage rate) includes the interest rate and other costs such as mortgage points and fees. The average APR for a 30-year fixed-rate mortgage in New Hampshire is 5.96%, which paints a broader picture of your yearly mortgage costs.
In New Hampshire, a credit score of 740 or higher with a 5% to 20% down payment results in an average APR of 6.53% for a 30-year fixed mortgage. For a credit score below 680, the average APR increases to 7.91%.
Your credit score and down payment significantly influence your mortgage rate in New Hampshire. Use the table below to see the rates you might get based on these factors:
| 10-year Fixed | APR6.09% |
| 15-year Fixed | APR5.36% |
| 20-year Fixed | APR6.02% |
| 30-year Fixed | APR6.35% |
| 5-year ARM | APR7.43% |
| 7-year ARM | APR7.14% |
In August 2024, 30-year fixed loans offer the lowest average APR for 30-year fixed-rate mortgages in New Hampshire. Knowing your options helps you make better homebuying decisions. See the mortgage loan types in New Hampshire:
Mortgage Type | Definition | Impact on Rates | 30-Year Rates in New Hampshire |
|---|---|---|---|
Conventional Loans | A conventional loan in New Hampshire is not insured or guaranteed by the government. | Rates for conventional loans are influenced by credit score, down payment and other financial factors. | 5.96% |
FHA Loans | FHA loans in New Hampshire are backed by the Federal Housing Administration, making them easier to qualify for. | FHA loans often offer lower rates for borrowers with less-than-perfect credit or smaller down payments. | 6.97% |
VA Loans | VA loans in New Hampshire are guaranteed by the Department of Veterans Affairs for eligible veterans. | VA loans offer competitive rates due to government backing, which is especially beneficial for military members. | 6.15% |
USDA Loans | USDA loans in New Hampshire are for rural homebuyers and are backed by the United States Department of Agriculture. | USDA loans can offer low rates and no down payment, aiming to help rural homebuyers. | currently unavailable |
Jumbo Loans | Jumbo loans in New Hampshire exceed conventional loan limits and are suitable for more expensive real estate. | Jumbo loans may have higher rates due to the larger amount borrowed and increased lender risk. | 6.62% |
Mortgage rates can be fixed or adjustable.
As of August 2024, the average APR for a 30-year fixed mortgage in New Hampshire is 5.96%, while a 7-year ARM is 7.19%.
Truist, Rocket Mortgage and Bank of America are solid lenders in New Hampshire. They are accredited by the Better Business Bureau and provide homeowner assistance programs. More options exist, and rates vary per lender, so compare options to find the best deal.
Truist offers diverse mortgage products, including conventional, VA and FHA loans. Down payments start as low as 3% and vary by loan type.
Customer support via phone, social media or in person is available Monday through Friday from 8 a.m. to 8 p.m. ET and Saturdays from 8 a.m. to 5 p.m. ET. For tailored homeownership assistance, explore programs like Doctor Loan and Affordable Lending Options.
Pros
Cons
Rocket Mortgage offers FHA, Conventional, VA and Jumbo Smart loans for purchasing or refinancing homes. Minimum credit scores range from 580 for FHA and VA loans to 620 for conventional and 680 for Jumbo Smart loans. Down payment options include as low as 1% for the ONE+ program, with the remaining 2% covered by the lender. FHA loans require 3.5% down, and conventional loans require 3%. VA loans don't require a down payment.
Customer support is available via phone or chat Monday through Friday from 8:30 a.m. to 9 p.m. ET and Saturday from 9 a.m. to 4 p.m. ET. For added support, explore homeownership assistance programs like ONE+, HomeReady, HomePossible and Freddie Mac BorrowSmart Access.
Pros
Cons
Bank of America offers online and in-person mortgage services, including fixed-rate, adjustable-rate and FHA loans. Its Affordable Loan Solution caters to those seeking a low down payment. VA loans require no down payment, and the Affordable Loan Solution allows for a minimum 3% down payment.
Customer support is available through virtual chats, phone calls and in-person sessions Monday through Friday, 8 a.m. to 10 p.m. ET, and Saturday, 8 a.m. to 6:30 p.m. ET. Homeownership assistance programs such as America’s Home Grant® and Down Payment Grant help ease financial burdens.
Pros
Cons
Owning a home involves hidden costs. To help homebuyers, New Hampshire Housing makes homeownership more affordable with its mortgage programs.
Program | Description |
|---|---|
Downpayment and Closing Cost Help | Offers up to $10,000 in cash support for down payment and closing costs through a forgivable secondary mortgage over five years. Income limits and completion of homebuyer education are required to qualify. |
1stGenHomeNH | Offers $10,000 to first-generation homebuyers who purchase a primary residence in New Hampshire and complete face-to-face homebuyer education. |
Homebuyer Tax Credit | Can reduce federal income taxes by up to $2,000 yearly. To qualify, attend a free course and reserve your credit through an approved lender in New Hampshire. |
Rehabilitation Mortgage Program | Adds up to $35,000 to your purchase mortgage for home repairs and upgrades, which can be combined with down payment assistance programs. Participants must monitor home mortgage rates in New Hampshire before applying. |
Understanding today's mortgage rates in New Hampshire is crucial for homebuyers. Here are key answers to common questions to help you make informed mortgage decisions.
Current average APRs for mortgages in New Hampshire vary based on loan type and other factors. As of August 2024, a 30-year fixed conforming loan has an average APR of 5.96%, while a 30-year fixed-rate FHA government loan has an average APR of 6.97%.
New Hampshire's current average APRs for a 5-year adjustable-rate mortgage (ARM) and a 15-year fixed-rate mortgage are 7.39% and 5.20%, respectively, as of August 2024. Nationally, the comparable rates are slightly higher for the 5-year ARM at 7.77% and close for the 15-year fixed-rate mortgage at 5.60%.
Your credit score significantly impacts the mortgage rates you may qualify for. Higher credit scores are typically associated with low mortgage rates.
Yes, New Hampshire offers several mortgage programs to assist homebuyers, such as Downpayment and Closing Cost Help, 1stGenHomeNH and the Homebuyer Tax Credit.
To secure the best possible mortgage rate in New Hampshire, you should improve your credit score, compare loan offers from multiple lenders and consider making a larger down payment.
As of August 2024, today's refinance rates in New Hampshire are 6.95% for a 15-year fixed loan and 7.60% for a 30-year fixed.
To calculate your mortgage payments, you can use a mortgage calculator for New Hampshire. It will help you estimate your monthly payments, considering your loan amount, interest rate and loan term.
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.
