Steps to Homeownership

New Hampshire Housing offers a number of different homeownership programs to help make homeownership more affordable.  While the specific programs may have different income limits, in general, we serve borrowers with incomes up to $135,300. 

We offer low downpayment requirements, down payment assistance (up to 3% cash to help with downpayment and closing costs), the homebuyer tax credit (HBTC) (Must be a first-time homebuyer or buying in a targeted community) and low-mortgage insurance options;

Are you ready to buy a home?

Take our quiz to help you determine your next steps.

Real Estate is evolving on a daily basis right now and none of us truly know how the story will end.  Believe it or not, there are buyers out there that are still looking for their dream home. Those would be the buyers that are confident with their employment situation and have been able to save for the transaction. At the same time there are many homeowners not being pushed to sell because their lender has automatically deferred their mortgage payments.  Still, buyers should not assume that because we are in a pandemic they can automatically lowball a seller. Sellers may be more willing, however, to entertain offers on the lower end. The reality is a buyer won’t know how motivated a seller is until they make an offer. Buyers need to keep in mind that no matter how badly a seller needs to sell they may not want to engage with a buyer who low balls an initial offer.

Buying your first home can be emotionally and financially challenging. With rising home prices, limited inventory, down-payment requirements and upfront expenses, it's enough to overwhelm someone right out of the process. In New Hampshire some local banks recognize how difficut entering the housing market can be and have taken some steps to offer some relief.  In association with the Federal Home Loan Bank of Boston some banks can offer the Equity Buider Program (EBP). The program is available to income eligibe households who can get up to $15,000 to use towards a down payment or cosing costs.

Per orders of Governor Sununu  all non essential businesses are to close as of midnight tonight. A Real Estate company happens to be non essential.  Our Campton and Lincoln offices will be closed until further notice. Our Realtors on the other hand will continue to do as much as they can from the safety of their homes.

Continued communication with our clients and customers is important to all of us. What does this mean for our sellers: marketing strategies will continue to put your property in the forefront of  buyers able and willing to purchase as soon as the restrictions have lifted. 

?During this unprecedented COVID-19 pandemic, Alpine Lakes Real Estate is continuing to monitor closely local and world events. With many companies closing their offices and directing their employees to work from home to help reduce the possible spread of this virus, our offices are no different. Currently our offices in Lincoln and Campton are open.

First and foremost, we are taking the safety and health of our Realtors, staff and our clients and customers seriously. We are adhering to the recommendations from our local, state, and federal governments. This is a fluid situation which we are monitoring daily to better adjust and change how we operate within our company.

As the coronavirus spreads, how will it impact New Hampshire’s Real Estate Transactions?

We reached out to many of our most trusted professionals in the field to get their feedback and yet there appears to be only a minimal impact on NH transactions. Though Bank lobbies have been closed across the state, mortgage lenders are still able to meet in person with customers if they so choose and yet there hasn’t been a significant impact on transactions already in process.

It’s very likely that one of the largest expenses you will ever make is purchasing a home and budgeting for this venture is a definite must. Most borrowers will either be saving for a 5% down payment on a conventional loan or 3.5% for an FHA loan. However, there are additional expenses that buyers need to be aware of regardless of the loan type. Here is a chronological look at what you might expect and when it would come into play during the transaction.

Update on the Affordable Housing Project in North Woodstock.
Predevelopment work in underway on AHEAD next project in Woodstock, NH to be called Peeling Village. The property has been surveyed and the proposed site plan reviewed by a civil engineer.

With limited inventory available on the market you should take special care when interviewing Realtors you want to work with whether you are selling or buying a home. Here's a few questions to ask those potential agents.

1. What’s your experience with selling property?

There’s no right or wrong answer requiring a full resume, however, you may wish to know if the Realtor sells real estate full-time or part-time and how long they’ve been in the industry.  It’s also reasonable to ask how they resolve issues such as discovering a lien after the fact, disputes with property lines, negative property inspection prior to closing etc.

For first-time home buyers, the process can be completely overwhelming. There are contracts, deadlines, inspections, deposits, etc. When you outgrow that first home and decide to sell it and buy something better suited for your current situation you might think it’ll be a piece of cake because you’ve already done it once.  Not so fast . . . the process will be equally overwhelming if not more due to regulations put in the place since you purchased your first home.

First, you need to sell your existing home and determining where you’ll live until you find and close on a new home. It’s possible to find a home before you’ve sold your existing residence, but it can be tricky to pull it off, so you may choose to get the first home sold before making an offer on a new one.

Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit. Being a real estate investor isn’t always glamorous but it’s a great way to make your money work for you and build wealth over the long-haul.  There are several ways to consider investing in real estate, buying properties with the intention of renting them to generate income,1031 Exchange or buy, fix, and flip to other buyers. 

When considering investment options think about this, when you buy a stock, it simply sits in your brokerage account and, hopefully, increases in value. If you invest in a rental property, there are many responsibilities that come along with being a landlord. When the furnace stops working in the middle of the night, it's you who gets the phone call. If you have the skills and don't mind handyman work, this may not be barrier; otherwise, you may need a property manager which, of course, affects your profit.

Credit affects all people; young, old, rich or poor. Credit reports and scores can impact all aspects of our lives; loans, credit card offers, renting an apartment and even job opportunities. Because of this, it’s critical that you understand how credit works and what factors create your credit score.

The cooler autumn months are here. Football season is in full swing, the kids are back in school, and the holidays are right around the corner. But perhaps one of the least known advantages at this time of year is the ability to claim a deal on a home. Those looking to buy a home in the fall have many factors in their favor.

New England temperatures are cooling down and we switch from vacation mode, trips to the beach and care-free living to settling into our children's school schedules, new jobs or perhaps empty nest living.  Take this opportunity to assess your current housing situation and should your thoughts turn to selling your current home then now is best time to start planning rather than later. To determine the best time to put your home on the market you may wish to contact your local real estate agent. He or she will help you with strategies to get the highest and best sales price. And speaking of agents, it’s strongly suggested to interview a few Realtors, experience and personalities are important to determine who will be the most successful in coordinating your transaction. Click here for some questions to ask when choosing a Realtor to list your property with.

While NH real estate sales rose from April to May by 3.7%, year-to-date, they are down 1.2%. The reality is there are just not enough homes on the market for the number of buyers looking to make purchases and that’s a serious problem.  The most desirable homes, the ones that are selling, tend to be smaller, and more affordable, slowing the median increase.

You may know the phrase “Grandfathered” from the recent short-run TV sitcom, but for years the term has been given to real estate properties that wouldn’t, under current regulations, be allowed to be constructed upon. In many (but not all) cases that can be a good thing when a property comes up for sale. For example, in the case of waterfront real estate, many restrictions have been imposed on new construction dealing with setbacks, site clearing and size of structure, sometimes to the point of making a previously designed building site unbuildable under the new guidelines.

Yankee values may have started on the east coast and being frugal has its place at the grocery store or car dealership, but not always when it comes to real estate. While there’s real estate for sale everywhere, the search for a great deal is not unique to one geographic area in the United States of America - but there are limits.

Is it time to stop thinking you should always be offering less than asking price?

Know which loan conforms to the property before you apply to a lender.

Question: Are you all set with your financing?

Answer: My buddy has me all set with a great rate.

NOT SO FAST… will the property conform to the type of loan you have been assured you’ll be approved for, at this great rate?

Here is where your Realtor comes in and guides you through the process in determining if you will get that loan or waste three weeks thinking it’s a breeze only to find out the property: Type, Location, Association, or occupancy doesn’t allow the loan you are “pre-Approved” for.

Many subdivisions have strict by-laws to prevent owners from pitching a tent on their site and camping out. This Covenant comes in the form of “no” a temporary shelters provision. One step further we often see no mobile homes, or a minimum square footage requirement. These guidelines were intended to ensure a homogeneous design and value of homes in a given neighborhood. They were and are still a good idea in most cases.

Your Mortgage lender analyzes these five “steps” when considering your loan application and you can help the likelihood of being approved for a loan by knowing them.