Best Mortgage Lenders in New Hampshire

The best mortgage lenders in New Hampshire offer flexible qualifications and competitive interest rates. Whether you're preparing to buy your first home or upgrade to your dream home, these lenders can help. Below, you'll find details of the best mortgage lenders in New Hampshire, with pros and cons for each to help your decision. 

The 6 Best Mortgage Companies in New Hampshire

You deserve a great mortgage experience. Here are the 6 best mortgage companies in New Hampshire, based on Benzinga’s research:

1. Best for Financial Report and Bank Statement Loans: Angel Oak Mortgage Solutions

Angel Oak Mortgage Solutions is a full-service mortgage lender offering traditional and portfolio mortgage loans. Its bank statement mortgage for self-employed borrowers is among its many customized loan solutions. This loan does not require tax returns and includes a 1099 income option for 1099 earners in New Hampshire. 

• Loan amounts up to $3 million with a minimum of $150,000
• Two years of self-employment
• 12 or 24 months of business or personal bank statements 
• Two years out of bankruptcy, short sale, foreclosure or deed-in-lieu
• Owner-occupied, nonowner-occupied, second homes located in New Hampshire
• 1099 option available
• 40-year fixed interest only
• Delayed financing available
• Non-warrantable condos allowed

Headquartered in Atlanta, Angel Oak Mortgage Solutions offers a wide range of loan options, allowing you to obtain any mortgage as long as qualification requirements are met. New Hampshire residents can also refinance into any of these loans. The customer service team is easy to reach via email, phone or the online contact form, and you can begin your journey by searching for a local adviser on the website.

Quicken Loans is an excellent choice for New Hampshire residents who prefer an online mortgage experience. Its platform — Rocket Mortgage® by Quicken Loans® — makes the process simple and transparent. It syncs with your bank information, so you don’t have to upload as many documents.

Quicken Loans has won awards for customer satisfaction for mortgage origination and mortgage servicing, which means you’re taken care of at every step of the mortgage process. Quicken loans can support Federal Housing Administration (FHA) borrowers and others short on down payment cash, as well as homebuyers who value convenience over low fees.

3. Best for First-Time Home Buyers: Citi

Citi is a great option for first-time homebuyers who may want a mortgage experience with a personal touch. The company has branches throughout New Hampshire, so you can easily talk to a real person.

Citi also helps make the homebuying process more affordable and offers cashback through its Home Rewards program. You can get an interest rate discount if you make your home loan payments with a Citi checking account.

Citi offers an online mortgage application allowing you to manage your loan using its mobile app. 

4. Best for Bank Statements Only: CrossCountry Mortgage

Self-employed borrowers sometimes struggle to find a mortgage. CrossCountry Mortgage offers bank statement mortgages, which allow you to qualify based on your income as shown on your bank statements, and you can use your personal or business accounts to qualify. These non-QM mortgages make it easier for self-employed people or business owners to secure a loan. 

CrossCountry Mortgage accepts borrowers with credit scores as low as 580 and offers loan amounts up to $6 million. It’s committed to high customer service and has been in business for over 20 years. 

5. Best for FHA Loans: TD Bank

TD Bank offers excellent service and strong experience helping borrowers secure FHA loans. Its New Hampshire branches offer FHA loans in person, or you can work with a loan officer by phone.

TD Bank also offers several educational resources on its website to make sure you’re informed about the mortgage process.

In addition to FHA loans, TD Bank has other mortgage options, including its Right Step mortgage, which offers a down payment as low as 3%. You need a minimum credit score of 620 to apply.

6. Best for VA Loans: Veterans United

Veterans United offers a seamless mortgage experience to New Hampshire residents. You can start the process from its website or call its loan experts, who are available around the clock.

It has 4.9 out of 5 stars on over 10,575 customer reviews on Trustpilot. Veterans United has been one of the top Veterans Affairs (VA) lenders in the country by volume for years. It offers the necessary experience to ensure your VA loan application to close goes smoothly.

Mortgages Explained

Mortgages are loan products designed to help borrowers purchase a home. As you decide which New Hampshire lender to work with, you’ll see a variety of mortgage types and mortgage terms. Take a look at the ones you’ll see the most often. 

Mortgage Types

Your mortgage type refers to whether a government program insures your mortgage. These are the most common types of home loans. 

• Conventional mortgages are mortgages that aren't regulated or insured by a government program. Conventional mortgages may require a higher credit score and a higher down payment than mortgages backed by a government agency. 
• FHA loans are insured by the Federal Housing Administration. These loans can have a down payment as low as 3.5% and are available to borrowers with lower credit scores. FHA loans also have a maximum loan amount that varies depending on where you live. 
• VA loans are backed by the Department of Veterans Affairs. These mortgages have no down payment requirement. The VA is also flexible when it comes to credit scores and requires lenders to review your overall financial status. 

Mortgage Terms

Your mortgage term refers to how your mortgage is structured and how long it will last, assuming you don’t make extra payments. Here are the most common mortgage terms.

• 30-year fixed-rate mortgages have an interest rate that never changes. This means your monthly payments stay the same. A 30-year fixed-rate mortgage will be paid off in 30 years, assuming you don’t make any additional payments. 
• 15-year fixed-rate mortgages also have a stable interest rate. This loan has higher monthly payments than a 30-year fixed-rate mortgage because it’s designed to be paid off in 15 years. 
• 5/1 adjustable-rate mortgages (ARMs) have an interest rate that the lender can change. These mortgages start with a fixed interest rate period of five years. After that, the lender can change your interest rate once per year. This means that your monthly payments could increase or decrease annually with changing interest rates. 

Which Mortgage Lender is Best for You?

Choosing a lender is an important decision. What should you look for? Take a closer look. 

Loans That Meet Your Needs

Do you need a government-backed loan with a low down payment, a loan for borrowers with low credit scores or a non-QM loan? Understanding your needs is the first step to finding the right lender for your situation. 

Low Lender Fees

Fees can add significant monthly costs and increase costs over the life of the loan. Carefully compare fees and interest rates to choose the best option. 

Competitive Interest Rates

Interest rates are among the biggest deciding factors in total loan costs. You could end up spending hundreds of thousands of dollars over the life of the loan. To save more, carefully compare various lenders' interest rates and total fees to choose the best option. 

Easy Closing Process

Some lenders are known for excellent customer service and an easy closing process. If you want fast closing, look for lenders that offer expedited closing, such as CrossCountry Mortgage.

Excellent Customer Service

Your mortgage may be your biggest financial transaction. You want a lender that offers excellent service while you’re applying for a mortgage and once you have your mortgage in place. If potential lenders aren’t prompt about getting back to you or are hesitant about answering your questions, you might want to choose a different lender. 

Technology

Technology can make a huge difference in your mortgage process. If you like to do business online, look for a lender with an online mortgage process. If you’re constantly on the go, look for one with a mobile app. Some lenders can connect with your bank, so you don’t have to upload 20 pages of bank statements. Look for a lender that uses technology to streamline the mortgage process. 

You can choose another lender if you contact a lender and something seems off. Trust your instincts and work with a lender that fits you. It’s a big decision, and you deserve the best. 

Lender Credit Score Minimums in New Hampshire

Minimum credit score requirements vary by lender. There's no set minimum in New Hampshire. 

What is a credit score? Your credit score is a three-digit, computer-generated number that gives lenders a quick snapshot of how you handle credit and debt. If you’re below the minimum set by lenders, you may need to improve your score before qualifying for a mortgage. 

Lenders also base your interest rate on your credit score so that a higher credit score could mean a lower interest rate. Here are the minimum credit scores required by some of New Hampshire’s lenders, such as Bank of America, Flagstar, Guaranteed Rate, and Quicken Loans, usually requiring a minimum credit score of 620 for conventional loans or 580 for FHA loans.  

Current Mortgage Rates in New Hampshire

Like the rest of the country, mortgage rates in New Hampshire are higher than they have been in the last 20 years. Lenders change mortgage rates daily to reflect changes in the economy. 

Lenders typically lower interest rates to encourage people to buy homes if there's a dip in the economy. Lenders increase rates when the economy grows because there is more competition for funds. 

Benzinga updates mortgage rates regularly to ensure they reflect the most relevant data. Here are the current mortgage rates in New Hampshire.

Average Days to Close on a Loan

Closing on a mortgage takes time. It starts when you submit your formal application to your lender of choice. The lender reviews your application and asks for additional documentation if needed. While your lender works on that, you’ll schedule your home inspection and seek homeowners insurance. 

Your lender will come to a final decision and send you a revised loan estimate if anything changes. From there, you’ll work with your agent to schedule your closing meeting, when you sign your documents and pay any funds due, like the balance of your down payment. 

The closing process is involved, and lenders vary in how long it takes them to close on a home loan. According to a Freddie Mac report, the average time to close on a home in 2020 was 43 days. The closing time for New Hampshire’s lenders can vary by loan type, borrower qualifications, and even the time of the year.  

Final Tips for Securing a Mortgage in New Hampshire

The best mortgage lenders in New Hampshire offer options to purchase the home of your dreams. Whether you plan to apply for a non-QM mortgage, a government-backed loan, or a conventional mortgage, the New Hampshire lenders here can help you secure a home. 

Getting prequalified can help strengthen your home offer and speed up the closing process. Shop around both online and in person to get the best interest rates and terms. To get started, find the best interest-only mortgages, the best mortgages for first-time homebuyers or the best refinance mortgage lenders.

Frequently Asked Questions