About the Home Flex Purchase Rehab Program
Not every home that is on the market is move-in ready. Sometimes a house needs a few repairs to make it a perfect home. That is where New Hampshire Housing’s Home Flex Purchase Rehab Program may help. With Home Flex Purchase Rehab, a homebuyer can roll into the purchase of a new home up to $35,000 in funds for rehab costs. By combining the purchase of a home with the cost of repairs, you are in control of the improvements and get to make those critical decisions that make a house a home. Home Flex Purchase Rehab is only available on government-insured mortgage products (FHA and USDA/Rural Development).
How to apply
To see if you qualify for a Home Flex Purchase Rehab Loan, contact one
of our Participating Lenders today!
What are the benefits
- One-time closing on the mortgage and rehabilitation loan;
- No rate adjustments for credit or other overlays;
- Can be combined with Home Flex Plus, which provides up to 3% cash for downpayment and closing costs;
- Low or no money down depending on mortgage insurer guidelines;
- Working with a local investor who can provide a quick turn around on disbursements; and
- You stay in control of what improvements are done and who does them.
What types of repairs are covered?
- Renovations and improvements designed to address obsolescence;
- Cosmetic repairs or upgrade;
- Energy efficiency improvements;
- Safety improvements; and
- Improvements to extend the useful life of the property.
Please note: No structural repairs are allowed under this program.
Your Participating Lender will be able to guide you on whether or not a repair qualifies under the Home Flex Purchase Rehab Program.