We recently sat down with Cathy Murray, SVP Mortgage Loan Officer at Mascoma Bank, to talk about a couple beneficial grant programs available to New Hampshire home buyers in 2026.
Some of these programs offer up to $32,000 in grant funds that can be used toward your down payment and closing costs.
Here’s a simplified breakdown of what home buyers should know.
1. The Housing Our Workforce (HOW) Grant – Up to $25,000
The Housing Our Workforce (HOW) Grant is offered through the Federal Home Loan Bank of Boston in partnership with Mascoma Bank.
Key Highlights:
• Up to $25,000 per household
• Can be used toward down payment and closing costs
• You do not have to be a first-time home buyer
• Income limits apply (based on county)
• Must qualify for mortgage financing
This program is designed to support working households and expand access to homeownership.
2. Equity Builder Program – Up to $32,000
The Equity Builder Program is another grant offered through the Federal Home Loan Bank of Boston.
Key Highlights:
• Up to $32,000 per household
• For first-time home buyers only
• Income limits apply (based on county)
• Funds can be used for down payment and/or closing costs
If you qualify, these funds are applied at the time of purchase to help reduce the cash you need to bring to closing.
Is There Really “No Payback”?
These programs are structured as grants, not loans, but there is typically a five-year retention period.
If you sell the home within that period, a prorated portion of the grant may need to be repaid. After that timeframe, the grant is fully forgiven. Specific terms vary, so reviewing the details with a lender is important.
How Do You Find Out If You Qualify?
The first step is to speak directly with a Mascoma Bank lender and get pre-qualified.
Eligibility depends on:
• Household income
• Property location (county-based limits)
• Qualification for mortgage financing
In 2025 alone, Mascoma Bank secured $941,750 in grant funds for homeowners, a significant benefit for buyers who qualified.
Additional Benefits Worth Noting When Working with Mascoma Bank
During our conversation, we also discussed two features many buyers may not realize:
Local Loan Servicing
Mascoma Bank services approximately 99% of their loans. That means your mortgage is typically not sold to an out-of-state servicer, and you can continue working with a local team after closing.
Rate Modification Option
For certain in-house portfolio loans, Mascoma offers a rate modification program that allows borrowers to adjust their interest rate (up to three times over the life of the loan) if rates drop, without completing a full refinance. There is a fee, but it can be significantly simpler and less costly than refinancing.
Final Thoughts
If you’re exploring a home purchase in New Hampshire, grant programs like these can meaningfully impact your upfront costs.
Because guidelines and funding availability can change, it’s beneficial to speak directly with a lender early in the process to understand what options may apply to your situation.
If you have questions about how these programs might fit into your home search, reach out, we’re always happy to have a conversation.
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