Help with Downpayment and Closing Costs
Many homebuyers who could afford the mortgage and maintenance on a manufactured home don’t have the savings to cover closing costs. Your Turn homebuyer assistance might be able to help.
$35,000 to Help You Afford a New Home
Picture yourself in a new manufactured (mobile) home. You've chosen the cabinets, the colors, and the style, so it looks great. You've also selected a resident-owned community (ROC) to live in, or bought land to put your new home on.
Your Turn homebuyer assistance and Welcome Home Loans make that vision an affordable reality.
Your Turn offers an additional $35,000 loan to cover down payment and closing costs when you buy a new Energy Star home. You repay the Your Turn loan only when your Welcome Home first-mortgage loan is paid off, you sell or refinance, or you no longer live in the home.
The funding is available for a limited time, and on a first-come, first-served basis.
Additional Help for Homebuyers With Low Incomes
That's right. If your household income is below a defined level, you may be eligible for $15,000 in down payment and closing cost assistance when you buy a pre-owned home in a resident-owned community (ROC) or on land you own or are buying.
Qualifying income varies by New Hampshire county, so please call us through the link below. This funding also is available for a limited time, and on a first-come, first-served basis, so call now to see if you qualify.
Your Turn homeowner assistance and Welcome Home Loans are offered by the Community Loan Fund with the support of the New Hampshire Housing Finance Authority and Mascoma Bank.
New Hampshire Community Loan Fund Inc. NMLS ID 253893. Licensed by the New Hampshire Banking Dept.
Frequently Asked Questions about Your Turn assistance
If your question isn’t answered here, please call us.
If you’re buying a new manufactured (mobile) home, your household income is under a certain level, and you qualify for a Welcome Home Loan from the New Hampshire Community Loan Fund, Your Turn can make it affordable by offering up to $35,000 for a down payment and closing costs.
Yes, but not until your regular mortgage is paid off, or you sell, refinance, or move out of the home.
The home must be located in New Hampshire and in a resident-owned community (ROC) or on land you own or are buying.
It depends what New Hampshire county your new home is in. Call one of our Mortgage Loan Originators: Ron Thompson (NMLS #225348) at (603) 856-0756 or Heather Ralphs (NMLS #2567112) at (603) 856-0712.
Yes.
Your Turn can only be used to buy a new home.
The Community Loan Fund is a nonprofit that exists to help people with low- and moderate-incomes become more financially secure and independent. One of the ways we do this is by helping them buy manufactured homes. In many N.H. communities, manufactured homes are the most-affordable housing choice, and we want more people to have that opportunity.
Yes! It’s a great idea to get prequalified for a Welcome Home Loan, so you can shop for homes with your price range in mind. We’ll also prequalify you for Your Turn assistance with down payment and closing costs. Here's how.
If we can’t prequalify you right now, we’ll let you know why and what you need to do to be approved next time.
Visiting a manufactured-home dealer or retailer from this list is a great way to see homes for sale, and also to learn what options you have to order the home the way you want it. It is a good idea to shop around and find the home and the dealer that’s right for you.
The retailer who sells you the home will give you a price that includes setup, and will oversee the installation.
Your Welcome Home Loan can include all the installation costs, including the foundation or slab you choose, the skirting, and landscaping — everything you need to be ready to move in. The loan can even include the cost of removing a manufactured home you’re replacing.
The only cost to apply is a credit report fee for each borrower. Please contact us for the current fee.
We will ask you to complete a loan application and provide financial information such as pay stubs and bank statements. We will work with you to make sure you provide all the documentation to make the application process move smoothly.
It can take several months. When you are shopping, you’ll want to ask the manufactured-home dealers or retailers how long it will take from the date you order the home to when you move in, so you can plan accordingly. Need more information? Call us. Our mortgage specialists are ready to explain the process so you can decide if it’s the right move for you.
Celebrating Success
It may sound corny, but it’s true — we only succeed when our borrowers succeed. Their stories bring us joy and drive us every day to work to provide more opportunities for our neighbors to shine.
My favorite part of living here is the freedom of ownership. When we first bought the park, I remember my first feeling, that no one could take this away from me. I owned it.
Thank you for making my golden years golden.
The Community Loan Fund helped me clear up everything and put myself in a position to buy.
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