New Hampshire VA Loans
Whether you receive PCS orders to relocate to New Hampshire or are already a resident, purchasing a home can be a great financial move. Using a VA loan in New Hampshire has many benefits for seasoned and first-time homebuyers alike.
With the average listing price of a home in New Hampshire landing at $492,134, the VA loan’s signature $0-money-down benefit is a considerable advantage for New Hampshire homebuyers.
See also: VA Loan Options for Other States
How to get a VA Loan in New Hampshire
VA loans are made by private lenders and guaranteed by the Department of Veterans Affairs. Because private lenders make the loans and not the VA, you need to find a lender licensed in the state you plan to purchase or refinance.
For example, if you're purchasing a home in Concord, NH, you'll need to find a lender licensed in New Hampshire to do the loan.
Other Considerations for Getting a VA Loan in New Hampshire
VA borrowers in New Hampshire should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.
New Hampshire VA Loan Limits
As of January 1, 2020, VA borrowers in New Hampshire with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.
However, veterans without their full VA loan entitlement are still bound to New Hampshire’s VA loan limits.
New Hampshire VA Loan Limits by County
| County | Loan Limit |
|---|---|
| Rockingham | $828,000 |
| Strafford | $828,000 |
| All other areas | $726,200 |
Property Taxes in New Hampshire
Another consideration for VA buyers in New Hampshire is property taxes. For certain VA buyers, there are exemptions.
You may be eligible for a property tax exemption in New Hampshire if you meet one of the following conditions:
- If you are a 100%, disabled veteran you may receive a tax credit of $701 to $4,000, and possibly a full property tax exemption of your primary residence.
- If you are blind, paraplegic, or a double amputee as a result of service with a specially adapted home acquired with assistance from the VA you may receive a full property tax exemption.
If you are required to pay property tax in New Hampshire, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:
| County | Property Tax Rate |
|---|---|
| Belknap | 1.86% |
| Carroll | 1.31% |
| Cheshire | 2.74% |
| Coos | 2.37% |
| Grafton | 2.06% |
| Hillsborough | 2.23% |
| Merrimack | 2.42% |
| Rockingham | 2.03% |
| Strafford | 2.42% |
| Sullivan | 2.71% |
How VA Loans Work in New Hampshire
View the graphic below to learn more about how VA loans work in New Hampshire.
