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Mortgage rates in New Hampshire

The Granite State typically holds close to the national average.

Updated

Fact checked

Mortgage rates during the coronavirus

As mortgage rates fall to record lows in the wake of COVID-19, our partners are seeing an increase in demand for loans and refinancing. As they work through this influx of applications, you may see rates that are higher than expected — or no rates at all. We recommend comparing offers from multiple lenders to ensure you're getting the best deal possible.

Compare mortgage lenders in New Hampshire

Mortgage rates in New Hampshire average 4.681% and are expected to hover around the 4% mark in 2020.

How much do New Hampshire rates vary?

The 30-year average mortgage rates in New Hampshire ranged from 4.583% to 4.796% in 2018. Lenders consider several factors to calculate your mortgage rate like the amount you borrow, type of loan and term. For instance, VA loans typically carry a lower rate than a conventional mortgage but may come with stricter borrower and property conditions.

2018 average rates in New Hampshire by loan type

Loan type15-year average rate30-year average rate
Conventional4.311%4.704%
FHANot available4.796%
VA4.041%4.583%
USDANot available4.639%

Rates based on data from ffiec.cfpb.gov.
A small change in your rate can mean a difference in the interest amount you pay over the loan term.

For example, suppose you have a 30-year fixed-rate conventional loan for $245,000. At the 2018 average rate of 4.704%, you might pay around $1,270 a month, excluding taxes and fees.

But, if you’re a veteran and qualify for a 30-year VA loan for the loan amount, you could get a lower rate of 4.583%. That could put you at about $1,250 a month.
Though $20 a month may sound like peanuts, that slight increase could save you $6,390 over the life of the loan.

Mortgage rates in the Granite State are expected to fly in just under the 4% mark in 2020.

In the past decade, New Hampshire rates have come in, on average, 0.11% lower the rest of the country. 2012 and 2018 were the only years that interest rates were, on average, 0.04% higher US rates. Housing authorities nationwide predict that 30-year mortgage rates will range from 3.55% to 3.90% in 2020. New Hampshire rates will likely perform at or below these levels.

Compare mortgage rates throughout New Hampshire

We sifted through data from the Home Mortgage Disclosure Act to show what you might pay for the average 30-year fixed-rate loan in the metropolitan areas in New Hampshire. These numbers don’t include any costs that would be specific to your loan, such as taxes or private mortgage insurance.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
Manchester-Nashua4.736%$245,000$1280
Boston MSA (Rockingham and Strafford Counties)4.698%$275,000$1430

Based on data from ffiec.cfpb.gov.

How to get the best mortgage rate in New Hampshire

Here are a few tips to help you get a better rate on your next home loan:

  1. Compare loan products. Lenders usually have different loan programs with different rates. Research each lenders to see what program and rate you may qualify for.
  2. Work on your credit. Payback any outstanding debts and make on time payments to increase your credit score. This makes you a more attractive borrower to lenders.
  3. Know your closing costs. Lenders in New Hampshire usually charge between 1.47% to 2.2% of the purchase price of the home in closing costs in New Hampshire. Some lenders may advertise lower mortgage rates but have high closing costs. Be sure to weigh your interest rate against the closing costs to make sure you’re getting the best deal.

Historical mortgage interest rates in New Hampshire

Bottom line

New Hampshire mortgage rates usually align with or fall below the national average. Rates are expected to stick below the 4% level in 2020. Compare lenders and loan programs to find the right mortgage rate and loan terms for your homeownership goals.

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