P.O. Box1208, 250 Route49 Campton, NH 03223
FIRST TIME HOME BUYER INFORMATION PAGE
Below are listings of homes that might meet a first time home buyer 's needs and are likely to be fundable under a first time home buyer program depending on income ratios of the buyer. For each listing is an estimate of money required for close based on NH Finance ( one of many programs available for a first time home buyers) . NH Finance requires 1% down payment. We are using 6.5% interest but many of you could do much better then 6.5 and are basing the term of the loan on 30 years. This program may be paired with other programs to help in funding the needed downpayment and/or closing costs. Other programs individually and or paired will require out of pocket from the buyer of anywhere from 0% to 3.5 % of the purchase price for the downpayment and another 3% for closing costs (which can be paid for by a Seller if both buyer and seller agree to a price that will include them). Since there ae many programs available, if you are a first time home buyer with reasonable good credit , a steady job history and income , one will likely fit your financial needs . If you are looking for the best interest rates and have a small downpayment ( or at least 3.5%) either of your own funds or as a gift from a family member, the FHA program might be the best program for you . If you have a good income but have little or no money to put down, Rural housing or a paired program using federal grant money might work best but you will pay a little more in the interest rate. And if you use the grant, this will have to be paid back when you sell or refinance. Your lender, will help you to find the right program for you based on your needs. Closing costs will vary but most of time 3% is a good number to use as an estimate. Many times Sellers will help with these costs as it could be a deductible expense for them. Most programs will allow the seller to pay up to 3% of your closing costs. If the home needs work on it you might look at the FHA rehab loans . These loans have a bit higher points and closing costs but might make the deal work for you when the home would not otherwise meet FHA guidelines .
First time home buyer programs are offered through Rural housing , if you are Veteran , a VA loan might be available to you .Both of these will offer programs as low as 0 percent downpayment. There are also programs through NH Finance(1% down) ,FHA(3.5%down) and Rural housing (as low as 0% down)and/or a combination of any of them including or not including the federal grant ( a federal grant of up to 4% of the purchase price to be used towards closing costs and or downpayment) could afford you as low as 0% down.
All of the above programs allow for a family member to gift to the buyer up to and including all of the necessary downpayment . This must be a gift and can not be a loan however the money can be obtained by the gifter, through a loan such as a second mortgage on a parent or grandparent's home to help their child/grandchild get into their first home. This is allowable as there is no requirement of the gifter to show where they got the money that they are gifting.The Seller can not help with downpayment.
For actual rates and closing costs , you should contact a lender to get prequalified. (this should not cost you anything except possibly a credit check fee). Your lender will then give you a good faith estimate of your expected costs and what you will need to close, what the interest rate and other specifications of the program being offered to you . This is the best place to get started as knowing what you can afford and having a plan on what you will need for money to close will help you identify the house that is just right for you . Our home page has a mortgage calculation tab for you to use to calculate other rates and amounts.
All listings below have full listing information and additional pictures and or virtual tours at our listings tab. Where sellers have agreed to pay up to 3% or 6% of the purchase price with full priced offers. Please do not mistake this statement to mean that that seller will not consider an offer. All offers will to pay for closing costs will be with full price .
3.Thornton Village 2-3 bedroom ranch on full basement :
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PRICE REDUCED $115,000 |
Bedrooms:
2.0 |
+/- Sq Ft:
900 |
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Type:
Resale/Existing |
Baths F/H:
1/0 |
Stories:
1.0 |
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MLS ID:
2747644 |
Year Built:
1949 |
Lot Size:
0.34 |
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SWEET Village year round ranch |
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Unbelieveable location on the edge of the village sits this well maintained village ranch with town water, 2-3 bedrooms, 1 bath, fireplaced living room, new oil furnace , basement, kitchen , seperate dining . Level piece of land where you can walk to stores, worship , other amentities . Located in Thornton village the gateway to NH White Mountains this place is so sweet . Great starter, retirement home or year round vacation as it has it all. Call today for a showing or visit our virtual tour | |
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4 Campton Village 2 bd 1-1/2 bath farmhouse - Price reduced
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$129,900 |
Bedrooms:
2.0 |
+/- Sq Ft:
1200 |
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Type:
Resale/Existing |
Baths F/H:
1/1 |
Stories:
0.0 |
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MLS ID:
2751988 |
Year Built:
1930 |
Lot Size:
0.52 |
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property details |
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This home appears to be smaller when you look at it from the street but small is not what you see when you walk inside. Owners have addressed alll the systems of the house including septic, roof, sills, and heating system over the past 10 years all that is left is personal taste and Kitchen appliances. And to help you with those the owner will be gifting the buyer at closing with 6,000 to be used towards their redecoration, appliances or closing costs .Within the last 10 years or less they have replaced the main roof, the boiler heating system and the leach drywell for the septic . It has town water so now you have it all the major systems of the house have been tackled. Huge kitchen has room for the large farmers table , living room is solid and ready for your ideas. It consists of 2 room open but separate to each other with a gas woodstove for ambiance. make one the formal and the other the game room with pool table or if you are not so into that how about a library, your call. 2 huge bedrooms and a bath and a half , 1 car garage, 0.5 of an acre that is 100% usable and flat. other out buildings need some attention or dismantling (your choice). Wow this is a great buy for only $139,9000.. Walk to all that the lower village has to offer. | |
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The following calculations are based on a purchase price of $129,900 with a down payment of 1% of the purchase price (1,299.00) . Principal loan amount of $ 138501 at 6.0% interest based on 30 Year mortgage, current taxes of $$2,094.00 and an estimated insurance of $500.00 per year .
Monthly principal and interest $771/03
Monthly Real Estate taxes $174.50
Monthly Insurance $ 41.67
Loan to value ratio 99.00%
Monthly PMI $ 53.58
HOW MUCH WILL I HAVE TO PAY? Total monthly payments $1,040.78
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179,900Price reduced |
Bedrooms:
2.0 |
+/- Sq Ft:
1000 |
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Type:
Resale/Existing |
Baths F/H:
1/0 |
Stories:
1.5 |
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MLS ID:
2754715 |
Year Built: |
Lot Size:
1 |
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ski or snowmobile Chalet |
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Open concept ski or snowmobile with tons of glass for natural lighting .Chalet style home just a short zoom to the trails whether it is ski trails or snowmobile . Snowmobile corridor just across Route 3 from the house. Location half way between Waterville&Loon this home offers open concept living w/loads of windows for natural light. Located right off Rte 3 only a short driveto the interstate makes this convenient to do the activities of the white mtns. 2 bedroom & loft 1 bath, full basement | |
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The following calculations are based on a purchase price of $200,000 with a down payment of 1% of the purchase price (2,000.00) . Principal loan amount of $ 198,000 at 6.5% interest based on 30 Year mortgage, current taxes of $2512.00 and an estimated insurance of $500.00 per year . The Seller of this property is willing to contribute up to 3% of the purchase price towards the buyers closing costs
Monthly principal and interest $1251.49
Monthly Real Estate taxes $209.33
Monthly Insurance $ 41.67
Loan to value ratio 99.00%
Monthly PMI $ 82.50
HOW MUCH WILL I HAVE TO PAY? Total monthly payments $1,584.99
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$250,000 |
Bedrooms:
3.0 |
+/- Sq Ft:
1775 |
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Type:
Resale/Existing |
Baths F/H:
2/0 |
Stories:
2.0 |
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MLS ID:
2686194 |
Year Built:
1986 |
Lot Size:
1.4 Acres |
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Country Log cabin in the woods |
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Country rustic log home with 1775 sq feet of living space including 3 huge bedrooms large enough to sleep the whole family in each , large country kitchen/dining designed to be the focal point of the living space with huge beams exposed and front farmers porch just ready for the summers day. Wooded lot just a short ride on your snowmobile to the major snowmobile corridor and 12 miles to either Waterville or loon ski areas 5-6 miles to Owls Nest Golf and more | |
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The following calculations are based on a purchase price of $250,000 with a down payment of 1% of the purchase price (2,500) . Principal loan amount of $247,500 at 6.5% interest based on 30 Year mortgage, current taxes of $2,678 and an estimated insurance of $500.00 per year . The Seller of this property Has not yet decided if they are willing or not to the buyers closing costs
Monthly principal and interest $1564.37
Monthly Real Estate taxes $223.17
Monthly Insurance $ 41.67
Loan to value ratio 99.00%
Monthly PMI $ 103.13
HOW MUCH WILL I HAVE TO PAY? Total monthly payments $1932.33