Salem FTHB Down Payment Assistance Program

Administered by: City of Salem Community Development · City · Zero-Interest Loan

Funding status: Active

How much assistance

Up to $7,500 (matches down payment up to $6,500 plus $1,000 bonus for completing counseling) (Zero-Interest Loan)

Repayment in full is due upon sale or transfer of the property, or if you cease to occupy the property as your permanent residence.

Eligibility

  • Income limits: 1-person: $70,750; 2-person: $80,850; 3-person: $90,950; 4-person: $101,050; 5-person: $109,150; 6-person: $117,250
  • First-time buyer required: Yes — Must not have owned a home in the past 3 years.
  • Geographic restrictions: Must purchase within Salem, NH.
  • Homebuyer education required: Yes

How to Apply for Salem FTHB Down Payment Assistance Program

Step 1: Contact the City of Salem Community Development office to apply. You must be a first-time homebuyer purchasing a condo, single-family, or multi-family home (2-4 units) in Salem. Complete a CHAPA-certified homebuyer counseling course before closing to qualify for the additional $1,000 bonus.

Visit program website

Notes

The program matches your down payment dollar-for-dollar up to $6,500. Completing a CHAPA-certified homebuyer counseling course adds an additional $1,000 for a maximum of $7,500. Verify current income limits with the City of Salem.

Cities Where This Program Is Available