Nh Finance Housing Authority

The New Hampshire Housing Finance Authority (NHHFA), commonly known as New Hampshire Housing, is a self-supporting public corporation dedicated to expanding affordable housing opportunities for low- and moderate-income individuals and families throughout the state. Established in 1969, NHHFA operates independently from the state’s general fund, relying primarily on revenue generated from its programs and investments.

NHHFA’s primary mission is to facilitate the development, rehabilitation, and preservation of affordable housing. They achieve this through a variety of programs and services, primarily centered around providing financial assistance. These include:

• Mortgage Programs: NHHFA offers a range of first-time homebuyer programs designed to make homeownership accessible. These programs often include low-interest rates, down payment assistance, and mortgage insurance options tailored to the needs of individuals and families with limited financial resources. They work with participating lenders throughout the state to administer these programs.
• Rental Housing Development: NHHFA provides financing for the construction and rehabilitation of affordable rental housing. This can involve offering low-interest loans, tax credit allocations (particularly through the Low-Income Housing Tax Credit program), and other forms of financial support to developers committed to creating affordable rental units. This helps increase the supply of affordable rental options for families, seniors, and individuals with disabilities.
• Affordable Housing Fund: This fund provides flexible funding for a variety of housing-related initiatives, including the creation of supportive housing for vulnerable populations, the rehabilitation of existing affordable housing units, and the development of new housing options in areas where there is a demonstrated need.
• Manufactured Housing: Recognizing the importance of manufactured housing in providing affordable housing solutions, NHHFA offers financing and support for manufactured housing purchases and park improvements.
• Home Improvement Loans: NHHFA provides loans for homeowners to make necessary repairs and improvements to their homes, helping them maintain their properties and improve their living conditions.

Beyond providing direct financial assistance, NHHFA also plays a crucial role in gathering and disseminating information about housing needs and trends in New Hampshire. They conduct research, publish reports, and work collaboratively with other organizations to address the state’s housing challenges. They also provide training and technical assistance to developers, landlords, and other stakeholders in the housing sector.

NHHFA is governed by a board of directors, comprised of representatives from various sectors including banking, real estate, and community development. This ensures a broad perspective and helps guide the agency’s strategic direction. Their commitment to sound financial management and innovative program design allows them to effectively address the evolving housing needs of New Hampshire residents and contribute to the overall economic well-being of the state.

In essence, NHHFA acts as a catalyst for affordable housing, working to bridge the gap between the need for safe, decent, and affordable housing and the resources available to provide it. Through their comprehensive programs and collaborative partnerships, they play a vital role in ensuring that more New Hampshire residents have the opportunity to live in quality, affordable homes.