HELOC Loans in New Hampshire

Home Equity Line of Credit (HELOC)

New Hampshire homeowners can access flexible credit through a HELOC (home equity line of credit), using their property’s equity as collateral. Whether you're renovating in Manchester, funding college in Concord, or consolidating debt in Nashua, a HELOC provides a revolving credit line with interest-only payments during the draw period. These loans typically have variable rates. Most New Hampshire lenders require 15%–20% equity and a credit score of at least 620. Home equity loans are also available for lump-sum financing with fixed payments. Borrowers can compare offers from local banks, regional credit unions, and online lenders.

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How to qualify

To obtain a quote, we will need the following information:

Property Value and

 Purchase Price


Down Payment

Amount


Credit Score

 Asset Types

  • Single Family Homes
  • Townhomes
  • Condos
  • 2 - 4 Units (Duplex, Triplex, Quadplex)
  • Multi-Family: 5 - 8 Units
  • Mixed-Use: 2 - 8 Units
  • Multi-Family: 9+ Unit


Loan Terms

  • Loan Sizes: $100k up to $3.5 Million (Larger loan sizes available on a case by case basis)
  • Purchase LTV: Up to 85%
  • Rate & Term Refinance LTV: Up to 80% 
  • Cash Out Refinance LTV: Up to 80%
  • Amortization: 30 Year % 40 Year Amortization Options Available
  • Term Lengths: 5/6 ARMs, 7/6 ARMs, 10 Year Interest Only, 30 Year Fixed & 40 Year Fixed
  • Floor Rate: 5.50% (subject to change daily due to market volatility)
  • Full Recourse with personal guarantee required for all borrowers with majority ownership (typically 20%+ or 25%+ if closing in an Entity)
  • DSCR Requirement: 1.00x or greater depending on loan size and property type. Sub-1.00x DSCR and NO DSCR options available.
  • Vesting: Lending to Individuals, LLCs, and Corporations. Trusts Allowable on a Case by Case Basis.
  • Average Time to Close: 14 to 35 days

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Frequently Asked Questions

What is a HELOC and how does it differ from a home equity loan?

A HELOC in New Hampshire offers flexible borrowing with a line of credit secured by your home’s equity. You can draw funds as needed, repay, and reuse during the draw period. A home equity loan provides a one-time payout with fixed interest and repayment terms.Choose a HELOC if your costs are phased or uncertain. Choose a home equity loan for large, defined expenses with predictable monthly payments.

How do HELOC rates work and what affects the interest rate?

HELOC rates in New Hampshire are typically variable and tied to the prime rate. Your actual rate depends on credit score, income, equity amount, and the lender’s underwriting guidelines. Credit unions in New Hampshire may offer promotional intro rates, rate-lock features, or autopay discounts. Comparing multiple offers is the best way to find low fees and favorable terms.

Can I qualify for a home equity loan in New Hampshire with low credit?

Yes, you may qualify for a home equity loan in New Hampshire with lower credit if you have sufficient equity and stable income. While most lenders prefer scores above 620, some consider applicants in the 580–620 range.Expect higher interest rates and more documentation. Local lenders and credit unions may offer greater flexibility for borrowers with strong financials despite credit challenges.

How much equity do I need in my home to get a HELOC?

In New Hampshire, most lenders require 15%–20% equity to approve a HELOC. That means your mortgage should be no more than 80%–85% of your home’s current appraised value.Other key factors include your credit score, debt-to-income ratio, and income history. Homes in high-demand markets like the Seacoast region may qualify for higher limits due to appreciation.

Are home equity loans in New Hampshire better for large expenses?

Yes, home equity loans in New Hampshire are ideal for one-time expenses like renovations, medical bills, or tuition. These loans provide fixed rates and predictable payments, which many borrowers prefer for long-term budgeting. If your costs are recurring or flexible, a HELOC may provide better access. The right option depends on the size and timing of your financial needs.

What are typical equity rates and loan terms in New Hampshire?

In New Hampshire, HELOC APRs typically range from 7% to 10%, depending on credit score, equity amount, and lender. These lines generally include a 10-year draw period and a 10- to 20-year repayment period.Home equity loans offer fixed rates with terms of 5 to 30 years. Many New Hampshire lenders offer competitive incentives such as no closing costs or rate discounts for autopay. Always compare rates and terms carefully.

Looking outside New Hampshire? Explore HELOC loans in Maine , Massachusetts , and Vermont...