FHA Loans in Nashua, NH: Affordable Home Financing Made Simple

Nashua home prices are up 20.8% year over year. FHA financing helps first-time buyers and families get into a home with as little as 3.5% down and more flexible credit rules than a conventional loan.

Why FHA in Nashua

FHA loans make homeownership easier in Nashua, NH

Nashua home prices are up 20.8% year over year. FHA financing keeps the door open with a smaller down payment and more flexible credit rules.

3.5% down in Hillsborough County

On a $490,000 Nashua home, that is roughly $17,150 down instead of $98,000. Gift funds from family are allowed toward the full amount.

Credit friendly, even at 580

Nashua's fast-moving market rewards buyers who can move quickly. FHA gives a viable path to approval when a 30-day close on a competitive offer is on the line.

Sellers can cover closing costs

FHA allows sellers to contribute up to 6% toward closing costs, which matters in Nashua where homes sell in about 30 days and buyers want to move fast without draining savings.

Eligibility

FHA loan requirements for Nashua, NH buyers

HUD sets these rules nationwide. Here is how they apply to a purchase in Hillsborough County.

1

Credit score

A score of 580 or higher qualifies for 3.5% down. Scores between 500 and 579 require 10% down.

2

Income stability

Flexible income guidelines allow multiple income sources, including overtime, side income, and co-borrower income, to help more Nashua buyers qualify.

3

Debt-to-income (DTI)

Ideally 43% or lower, but ratios as high as 50% or 57% are possible with compensating factors like reserves or a higher credit score.

4

Loan limit for Hillsborough County

The 2026 FHA loan limit for a single-family home in Hillsborough County, which includes Nashua, is $589,950. Most Nashua listings fall well within that limit.

5

Primary residence

FHA purchase loans are for primary residences only. Existing FHA loans on Nashua properties may be refinanced even if the home later becomes a second home or rental.

6

FHA appraisal

The home must meet minimum safety and habitability standards. An FHA 203(k) loan lets buyers finance repairs on Nashua's older housing stock to meet those standards.

7

Mortgage insurance (MIP)

FHA requires an upfront and monthly Mortgage Insurance Premium for the life of the loan, regardless of the New Hampshire city or town where the property is located.

Local market

The Nashua, NH housing market right now

What buyers are working with today, based on current local data.

$523K
Median sale price, up 20.8% YoY
30 days
Average time on market
$589,950
2026 FHA loan limit, Hillsborough County
$16.83
2025 Nashua tax rate, per $1,000 valuation

Sources: Redfin (Feb 2026 sales data), HUD 2026 county loan limits, NH Department of Revenue Administration 2025 tax rate.

Affordability tool

Nashua, NH mortgage payment calculator

Estimate your full monthly payment with Nashua's actual 2025 property tax rate built in, not a statewide average.

Home price $490,000
Down payment 3.5% · $17,150
Interest rate (NH avg) 6.75%
Loan term
15 yr
20 yr
30 yr

Includes Nashua's 2025 property tax rate (1.683% annually, per NH DRA) and estimated homeowners insurance (0.5% annually). Upfront and monthly FHA mortgage insurance premium (MIP) added when down payment is under 20% based on current FHA MIP schedules.

Estimated monthly payment
$3,481 /mo
Principal & interest$3,067
Nashua property tax$687
Homeowners insurance$204
FHA mortgage insurance$219
Loan amount$472,850
Get pre-approved for this scenario

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Frequently Asked Question

What credit score do I need for an FHA loan in Nashua, NH?

You can qualify for the 3.5% down payment option with a credit score of 580 or higher. Scores between 500 and 579 are still eligible, but require a 10% down payment.

What is the FHA loan limit in Nashua, NH?

Nashua is in Hillsborough County, where the 2026 FHA loan limit for a single-family home is $589,950. Most homes on the Nashua market fall within that limit.

How much down payment do I need to buy a home in Nashua?

FHA only requires 3.5% down for qualifying credit scores. On a $490,000 Nashua home, that is about $17,150, and the funds can be gifted by family.

Can I use an FHA loan on a fixer-upper in Nashua?

Yes. An FHA 203(k) loan lets you finance the purchase and the cost of repairs together, which is useful given Nashua's older housing stock in areas like the North End and Downtown.

Will I have to pay mortgage insurance on an FHA loan?

Yes. FHA requires an upfront and monthly Mortgage Insurance Premium (MIP) for the life of the loan, regardless of down payment size.

How fast do homes sell in Nashua, NH?

Homes in Nashua are selling in about 30 days on average, so getting pre-approved before you start touring homes puts you in a stronger position to compete.

Your first home starts right here. 

Our FHA specialists guide you through the process,
from credit repair tips to finding the right
down-payment assistance programs.