Pamela MacDonald

Another N.H. first: Low-interest-rate loans for manufactured homes

By Pamela MacDonald

A new mortgage loan program will allow homeowners and homebuyers in New Hampshire ROCs to save thousands in interest charges.

New Hampshire has been first-in-the-nation for many things. The first alarm clock was invented in 1787 by Levi Hutchins of Concord. The first potato was planted in Londonderry in 1719. And every four years we hold the first-in-the-nation presidential primary. 

Now, we can claim another “first.” Homeowners and homebuyers in resident-owned manufactured-home communities (ROCs) in New Hampshire can save money by financing, or refinancing, their homes with fixed interest rates as low as those of site-built homes.

Along with lower rates (see today's rates), the Home Preferred Manufactured Housing in ROCs loans offer low down payments and low mortgage insurance requirements. Requirements include a maximum allowable income, owner occupancy, and homebuyer education for first-time homebuyers.

This special financing is available, so far, in 10 N.H. ROCs that have been approved by the federal Fannie Mae program, and offered through the New Hampshire Community Loan Fund and New Hampshire Housing. Homeowners in these co-ops can potentially save thousands of dollars over the lives of their home loans.

Apply for Home Preferred financing by emailing Pamela MacDonald
or calling her at (603) 856-0764.

Other ROCs are in the process of seeking approval for Home Preferred. If you’d like to take advantage of these low rates, and you live in a co-op that isn’t on the list below, call ROC-NH to get more information about the eligibility process, then talk with your board of directors about applying for the program.

Our ROC-NH team will work with your directors on their application. To get things moving now, we’ll also pay up to $875 in costs for the first six co-ops that apply.

Start your co-op’s application by emailing Chris Clasby
or calling him at (603) 856-0723.

If your co-op, or you, don’t qualify for Home Preferred, you may still be able to purchase or refinance a home through our Welcome Home Loans.

You’ll find more information on our website.

Home Preferred-approved co-ops
  • Barrington Oaks Cooperative, Barrington
  • Camp Sargent Road Cooperative, Merrimack
  • Elm Brook Village Cooperative, Hopkinton
  • Exeter-Hampton Cooperative, Exeter
  • Lakes Region Mobile Home Park Cooperative, Belmont
  • Lilac Drive Cooperative, Raymond
  • Medvil Cooperative, Goffstown
  • Otarnic Pond Cooperative, Hudson
  • Pepperidge Woods Cooperative, Barrington
  • Windy Acres Cooperative, Charlestown

Pamela MacDonald is a Welcome Home Loan Mortgage Loan Originator. NMLS #1385324.

Equal Housing Lender.jpgNew Hampshire Community Loan Fund, Inc. NMLS #253893. Licensed by the New Hampshire Banking Department.