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Request for Proposals

 New Hampshire Housing Finance Authority is seeking development proposals from qualified applicants who propose to construct new affordable single family home ownership units that increase the state's affordable housing supply.  Funding will be available to end buyers of homes in for-profit and not-for-profit sponsored development projects that add to the state's housing supply, either through new construction or the adaptive reuse of non-residential structures.  A competitive review process will be used to identify projects to be approved for funding. 

To finance the selected development initiatives under this program, New Hampshire Housing has committed $500,000 for subsidies to qualified home buyers purchasing within the approved projects.  Up to $20,000 per qualified buyer will be available for down payment/closing costs associated with the purchase when it is combined with a New Hampshire Housing first mortgage.   Home buyers must meet all requirements of the Single Family Mortgage Program. 

This Initiative is intended to enable developers to build affordable housing that complies with targeting requirements such as those which may be placed on projects by municipalities.  New Hampshire Housing will provide first mortgages to qualified buyers, a deferred payment second mortgage in the amount of the subsidy, access to our network of Participating Lenders, and the opportunity to list affordable units available in the qualified project on our web site.

New Hampshire Housing will accept applications for the Home Ownership New Production Initiative at its offices at 32 Constitution Drive, Bedford, NH until April 30, 2010 at 5:00 p.m.  Scoring will be completed and reservation of resources will be made at or before New Hampshire Housing's June Board of Directors meeting.

New Hampshire Housing reserves the right to reject any and all applications submitted.  In addition, New Hampshire Housing is not obligated to fund all projects even if all financing resources have not been expended.

For additional information, please contact Elizabeth Lamoureux, Managing Director of Home Ownership (603) 310-9270 or email Elamoureux@nhhfa.org.