The New Hampshire housing-finance ecosystem
New Hampshire's housing pipeline draws on a mix of state agencies, federal pass-through programs, and local frameworks. Programs span the full spectrum: low-income rental, supportive housing for special-needs populations, workforce / missing-middle housing, homelessness prevention, first-time homebuyer assistance, mixed-use redevelopment, and disaster recovery. Below is a directory of every currently-active state-level and major-local program, organized by administering agency.
New Hampshire Housing Finance Authority (NH Housing)
NH Housing is New Hampshire's state housing finance authority, allocating federal LIHTC, issuing multifamily and single-family bonds, administering federal HOME, NHTF, Section 811 PRA pass-throughs, and operating New Hampshire's primary first-mortgage homebuyer products. NH Housing administers state-funded gap subsidy programs and the Housing Champions Program supporting communities adopting pro-housing local policies.
Federal 9% LIHTC
Competitive · RentalNH Housing allocates New Hampshire's federal 9% LIHTC ceiling — approximately $4.8 million in 2026 following OBBBA's 12% increase. Annual competitive QAP process.
4% LIHTC + Multifamily Bonds
Non-competitive · BondsNon-competitive 4% LIHTC paired with NH Housing-issued multifamily revenue bonds.
NH Housing Champions Program
Local incentives · Pro-housing communitiesNH Housing's program providing technical assistance and bonus funding to communities adopting pro-housing land-use policies. Encourages local zoning reform and inclusionary frameworks.
NH Affordable Housing Fund
State capital subsidyNew Hampshire's state-funded affordable housing fund administered by NH Housing supporting development of affordable rental housing and homeownership programs.
HOME Investment Partnerships
Federal pass-throughNH Housing administers New Hampshire's HOME allocation, primarily for multifamily rental development paired with LIHTC.
National Housing Trust Fund (NHTF)
Federal pass-through · ELINH Housing administers New Hampshire's NHTF allocation for housing serving extremely-low-income households.
Section 811 Project Rental Assistance
Operating subsidy · DisabilityNH Housing administers New Hampshire's HUD Section 811 PRA allocation for extremely-low-income persons with disabilities.
Section 8 Housing Choice Voucher
Federal vouchers · NH Housing adminNH Housing administers Section 8 HCV in jurisdictions not served by a local PHA.
Permanent Supportive Housing
Supportive housing · CoordinatedNH Housing capital subsidy for permanent supportive housing combined with operating subsidies from NH Department of Health and Human Services for chronically homeless and special-needs populations.
Home Flex Plus
Homeownership · Below-market mortgageNH Housing's flagship single-family first-mortgage product offering below-market rates and DPA options for first-time and other eligible homebuyers.
Home Flex DPA
Homeownership · DPANH Housing's DPA programs providing forgivable second-mortgage assistance combinable with Home Flex Plus first mortgage.
NH Housing Mortgage Credit Certificate
Homeownership · Federal tax creditFederal income-tax credit for eligible first-time buyers equal to a percentage of mortgage interest paid annually.
Owner-Occupied Rehab
Homeownership · RehabNH Housing-administered home improvement loan program for owner-occupied rehabilitation and energy efficiency improvements.
NH Department of Business & Economic Affairs (BEA) + Office of Strategic Initiatives
BEA and OSI administer federal CDBG for non-entitlement areas plus state economic development and housing-related programs.
CDBG (state-administered)
Federal pass-through · Non-entitlementNH Office of Strategic Initiatives administers federal CDBG for non-entitlement New Hampshire communities.
InvestNH Housing
State-funded · Capacity buildingNH state-funded program supporting community-level housing initiatives and infrastructure investments tied to housing development.
NH Historic Rehabilitation Tax Credit
State tax credit · Historic rehabNew Hampshire state historic tax credit for rehabilitation of certified historic structures. Pairs with federal HTC and 4% LIHTC for adaptive-reuse housing developments.
Manchester, Nashua, Portsmouth, and major NH local programs
Manchester, Nashua, and Portsmouth operate local affordable housing programs supplementing NH Housing's statewide activity.
Manchester Affordable Housing
Local subsidyManchester operates affordable housing programs through the Office of Economic Development supporting multifamily and homeownership development.
Portsmouth Affordable Housing
Local subsidyPortsmouth's affordable housing programs combining federal HOME resources with local programs for affordable rental and homeownership development.
How New Hampshire programs typically combine
Programs combine differently depending on what you're building. A short reference of representative stacks across the program-type spectrum:
- Statewide 9% LIHTC: 9% LIHTC + NH AHF + HOME + NHTF.
- 4% LIHTC + bonds: 4% LIHTC + NH Housing bonds + NH AHF.
- Permanent supportive housing: 9% LIHTC + Section 811 PRA + DHHS operating subsidy.
- Historic adaptive reuse: Federal HTC + NH Historic TC + 4% LIHTC + NH Housing bonds.
- Pro-housing community development: Housing Champions Program + 9% LIHTC + local zoning reforms.
- First-time homebuyer: Home Flex Plus + Home Flex DPA + MCC.
Post-OBBBA implications
- Permanent 12% LIHTC increase: New Hampshire's annual 9% LIHTC ceiling is permanently larger starting 2026.
- 25% PAB financed-by test: for bonds issued after December 31, 2025, materially expanding the pipeline of 4% LIHTC deals that can be supported per dollar of bond volume cap.
- Permanent OZ designations: Qualified Opportunity Zone designations gain permanence; Rural OZ provisions may apply in qualifying portions of the state.
- Section 45L / 179D termination (June 30, 2026): Developers pursuing energy-efficient construction should accelerate placed-in-service dates.
This is educational reference material for affordable-housing practitioners, not legal, tax, financial, or investment advice. State program details, funding levels, and rules change frequently — consult the relevant state agencies and qualified counsel before structuring any transaction. See Disclaimer.