Portsmouth HomeTown First-Time Homebuyer Program
How much assistance
Varies based on income, assets, and household size (0% interest deferred loans for down payment and closing costs) (Zero-Interest Loan)
Second mortgage at 0% interest with no repayment required for 10 years unless the home is sold or transferred. A third loan at 0% interest does not need to be repaid until you sell or transfer your home.
Eligibility
- Income limits: Must not exceed 80% or 120% of the area median income (AMI) depending on the program tier, based on household size
- First-time buyer required: Yes — Must not have owned a home in the last three years.
- Geographic restrictions: Must be a resident of Portsmouth for at least 2 years, OR have previously resided in Portsmouth for at least 10 years and currently live within 30 miles, OR be a permanent full-time City of Portsmouth employee.
- Homebuyer education required: Yes
How to Apply for Portsmouth HomeTown First-Time Homebuyer Program
Step 1: Contact Citizens Bank Loan Officer Mary Carlson at (518) 229-8766 or Portsmouth Community Development Director Elise Annunziata at (603) 610-7281. Complete homebuyer training through The Housing Partnership before applying.
Notes
Funded through the Portsmouth Housing Endowment Trust Fund (PHEF). Assistance amount varies by individual circumstances. Has residency requirements that are unique among NH city programs.