Home Equity Loan Calculator
Estimate your monthly payment, total interest, and maximum borrowing amount in under 30 seconds. Built for Granite State homeowners by NextGen Mortgage Loans, a New Hampshire licensed broker.
Estimate Your Home Equity Loan
Turn the equity in your New Hampshire home into a fixed-rate lump sum. See your monthly payment, total interest, and maximum borrowing amount instantly.
Your Estimate
Ready for a real rate quote? Soft pull only.
Get My RateYear-by-Year Amortization Schedule
| Year | Principal Paid | Interest Paid | Balance |
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Compare Loan Terms Side by Side
Same loan amount and rate. Different repayment periods.
Three inputs, one honest answer
A home equity loan converts the paid-off portion of your home into a lump sum of cash. To estimate what that looks like for you, this calculator needs three pieces of information:
- Your current home value. If you bought more than a year ago, pull a recent estimate from Zillow, Redfin, or a local appraisal. New Hampshire home values rose about 4.2% in the last 12 months, so older numbers will understate your equity.
- Your remaining mortgage balance. This is the payoff figure on your most recent statement, not the original loan amount.
- The amount you want to borrow. Most NH lenders will approve up to 85% combined loan-to-value (CLTV), which includes your existing mortgage plus the new equity loan.
The calculator returns a monthly payment using the standard amortization formula, total interest over the life of the loan, and how much equity you have available at NextGen’s typical CLTV tiers based on property type.
What is a home equity loan?
A home equity loan is a fixed-rate, lump-sum second mortgage that uses the equity in your home as collateral. You receive the full amount at closing and repay it in equal monthly installments of principal and interest over a set term, usually 5, 10, 15, or 20 years. Because the loan is secured by your property, interest rates are typically 2 to 4 percentage points lower than unsecured personal loans or credit cards.
How the payment is calculated
Every fixed home equity loan uses the same formula:
Monthly Payment = P × [r(1+r)n] ÷ [(1+r)n − 1]
Where P is the loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments. A $75,000 loan at 7.49% APR over 15 years works out to a $695.41 monthly payment and roughly $50,173 in total interest.
Home equity loan vs. HELOC vs. cash-out refinance
These three products all let you tap home equity, but they work differently. Use the table below to pick the right one.
| Feature | Home Equity Loan | HELOC | Cash-Out Refinance |
|---|---|---|---|
| How you receive funds | Lump sum at closing | Revolving credit line, draw as needed | Lump sum, replaces first mortgage |
| Interest rate | Fixed for the life of the loan | Variable, tied to prime rate | Fixed or adjustable |
| Monthly payment | Same every month | Interest-only during draw, then P&I | Same every month |
| Best for | One-time, known expense | Ongoing or unknown costs | Rate is lower than current mortgage |
| Typical term | 5 to 20 years | 10-year draw plus 20-year repayment | 15 or 30 years |
| Closing costs | 2% to 5% of loan amount | Often $0 to minimal | 2% to 6% of new loan |
| Touches first mortgage? | No | No | Yes, replaces it |
How to qualify for a home equity loan in New Hampshire
Most NH lenders and credit unions share similar underwriting bars, though minimum amounts and maximum CLTVs vary. Here are the typical requirements as of April 2026:
- Credit score of 660 or higher. Borrowers above 740 get the best advertised rates. Some NH credit unions will go as low as 620, usually at higher pricing.
- Debt-to-income ratio under 43%. This includes your existing mortgage, the new equity loan payment, car loans, credit cards, and any other reported debts.
- At least 15% to 20% equity remaining after the loan. At 85% CLTV, a $525,000 home with a $275,000 mortgage can support a new equity loan up to $171,250.
- Verifiable income. W-2 employees typically need two years of history. Self-employed borrowers need two years of filed tax returns plus YTD profit and loss.
- Primary residence, second home, or 1 to 4 unit investment property. Owner-occupied primary residences get the lowest rates. Second homes and investment properties see rate adjustments of 0.25% to 1.00%.
New Hampshire does not impose a state income tax on wages, which means your debt-to-income calculation uses gross income directly. This is an advantage over borrowers in Massachusetts or Vermont, where state tax is deducted from qualifying income in some underwriting models.
Local NH expertise, not a call-center script
The three largest online home equity calculators belong to national banks and generic calculator sites. None of them price New Hampshire property. None of them account for NH-specific lender overlays, credit union membership requirements, or the fact that rural properties in the North Country are often subject to stricter LTV limits than homes in the Manchester or Portsmouth metro areas.
NextGen Mortgage Loans is a licensed New Hampshire broker. We work with a panel of in-state lenders and national investors, which means we shop your file instead of selling one product. Our typical home equity loan closes in 18 to 24 days, not the 45-plus days common at the big banks.
When you’re ready for a real quote, we pull a single soft credit check, review your home value with a recent comp analysis, and give you a firm rate within one business day. No application fee. No obligation to move forward.
Want a Lower Rate? Talk to an Expert.
A lower interest rate means every extra payment goes further.
NextGen Mortgage can help you refinance or find the best loan for your situation.
Manufactured Home Loans for First-Time & Rural NH Buyers
Affordable financing for manufactured, modular, and mobile homes across the Granite State. Real-property mortgage rates, multiple loan programs, and access to lenders who actually fund these loans.
Real-property financing for factory-built homes in NH.
A manufactured home loan in New Hampshire is a mortgage used to purchase or refinance a factory-built home that meets HUD code, financed either as real property when permanently affixed to owned land, or as a chattel loan when sited in a land-lease community. For most NH buyers, real-property financing through FHA, VA, USDA, or conventional programs delivers significantly lower rates and longer terms than personal-property chattel loans.
Manufactured home loans open the door to homeownership at price points that traditional NH housing stock has priced out for years, especially in rural and northern counties. Whether you are a first-time buyer in Coos County, a retiree downsizing in Carroll County, or moving north from Massachusetts, the right loan program changes what you can afford.
NextGen Mortgage Loans is a New Hampshire licensed mortgage broker with access to lenders who specialize in manufactured home financing, including the programs most NH banks decline to offer. We match you to the loan that fits your home, your land situation, and your credit profile.
Benefits of Manufactured Home Financing
Lower entry prices, real mortgage rates, and program flexibility most NH banks don't offer.
Lower Entry Price
Manufactured homes typically cost a fraction of comparable site-built construction in NH, putting homeownership within reach at incomes that don't qualify for traditional inventory.
Real-Property Mortgage Rates
When your home is permanently affixed and titled with the land, you qualify for standard mortgage rates often 1 to 3 points lower than chattel, with terms up to 30 years.
Multiple Loan Programs
FHA Title II, VA, USDA, Fannie Mae MH Advantage, and Freddie Mac CHOICEHome all finance qualifying NH manufactured homes, so you're not stuck with one high-rate option.
Low Down Payments
Down payments start at 3.5% for FHA and 0% for eligible VA and USDA borrowers, making this one of the most accessible paths to NH homeownership.
Specialty Lender Access
Most NH community banks decline manufactured home loans or offer chattel only. As a broker, we connect you to lenders who actively fund these loans on competitive terms.
NHHFA Program Compatibility
Many manufactured home loans pair with New Hampshire Housing Finance Authority down payment assistance, useful for first-time buyers stretching to afford a starter property.
Who Qualifies for a Manufactured Home Loan
Requirements vary by program, but most NH manufactured home loans share these baseline guidelines.
Home built after June 15, 1976 with the red HUD certification label affixed.
Permanent foundation meeting HUD guidelines, required for FHA, VA, USDA, and conventional financing.
Home classified as real property, with the title to the home and land merged together.
Credit score generally 580+ for FHA, 620+ for conventional, with flexibility for VA borrowers.
Debt-to-income ratio typically capped around 43 to 50 percent, depending on program and compensating factors.
Single-wide, double-wide, and multi-section homes are usually eligible, though some lenders restrict single-wides.
How Manufactured Home Loans Work in New Hampshire
New Hampshire has one of the highest concentrations of manufactured housing in the Northeast, with strong inventory in Coos, Carroll, Grafton, Belknap, and Cheshire counties. That makes NH lenders more familiar with these loans than peers in other states, but program rules and county loan limits matter.
The 2026 FHA loan limit for a single-family property in most NH counties is set by HUD and applies to manufactured homes financed under FHA Title II. Conforming conventional limits set by the FHFA apply to MH Advantage and CHOICEHome loans. We confirm current county limits at the time of application.
Large parts of rural NH, including most of Coos County, much of Grafton and Carroll, and pockets of Cheshire and Sullivan, qualify as USDA-eligible areas, which can mean 0 percent down financing for income-qualified borrowers on manufactured homes meeting USDA property requirements.
The New Hampshire Housing Finance Authority (NHHFA) offers down payment assistance programs that can pair with FHA financing on qualifying manufactured homes, useful for first-time buyers in higher-cost southern NH towns.
If you are moving from Massachusetts, NH manufactured home financing is often dramatically more accessible than comparable MA options, and our brokers regularly handle MA-to-NH transitions, including out-of-state employment documentation.
From First Call to Closing Day
A clear path from inquiry to keys in hand. Most files close in 30 to 45 days.
Consultation
Brief call to review goals and credit. Soft pull only.
Pre-Approval
Letter issued in 24 to 48 hours after documentation.
Property Review
Foundation, HUD code, real-property status confirmed.
Application
Full file submitted to the best-matched lender.
Underwriting
Appraisal completed, income and assets verified.
Clear to Close
Closing disclosure issued, final review with you.
Closing
Sign at NH attorney or title company. Keys in hand.
Manufactured Home Loans vs Other Options
Honest comparison of your three main paths. Real-property financing wins almost every time when it's available.
| NH Manufactured Home LoanReal Property | Chattel Loan | Personal Loan | |
|---|---|---|---|
| Typical term | 15 to 30 years | 15 to 25 years | 2 to 7 years |
| Rate range | Mortgage rates | 1 to 3 points higher | Significantly higher |
| Down payment | 0 to 5 percent | 5 to 20 percent | Often 0 percent |
| Land requirement | Owned land, titled with home | Land-lease allowed | None |
| Best for | Buyers with owned land or planning to buy | Land-lease community buyers | Small repairs or upgrades only |
The "Computer Says No" Era is Over.
Common mistakes that cost NH manufactured home buyers thousands, and how to avoid each one.
Assuming All NH Banks Offer These Loans
Most local banks decline manufactured home mortgages or offer chattel only. A broker who already knows which lenders fund these loans saves you weeks.
Skipping the Permanent Foundation Question
A home not on a HUD-compliant permanent foundation cannot qualify for FHA, VA, USDA, or conventional financing. Confirm before making an offer.
Buying a Pre-1976 Home
Homes built before June 15, 1976 don't have the HUD label and don't qualify for any standard loan program. They're nearly impossible to finance.
Accepting Chattel Financing by Default
If your home will sit on owned land, push for real-property financing. The rate and term difference adds up to tens of thousands over the loan's life.
Not Checking USDA Eligibility
Many NH buyers assume they don't qualify for USDA. Large portions of rural NH are eligible, and 0 percent down can change the math entirely.
Trusting the First Quote You Get
One bank's quote isn't the market. As a broker, we shop multiple lenders to find the best fit for your scenario, not the one paying the highest commission.
A NH Broker Who Actually Answers the Phone
Local expertise, faster pre-approvals, and one loan officer from first call to closing.
Access to Specialty Lenders
NH licensed broker working with lenders who specialize in MH Advantage, CHOICEHome, FHA Title II, and USDA manufactured home financing.
Local NH Expertise
NHHFA programs, NH county loan limits, USDA-eligible NH areas, and how MA-to-NH transitions actually work in underwriting.
Faster Pre-Approvals
Most pre-approvals issued in 24 to 48 hours after we have your documentation, not the 7 to 14 days big lenders often take.
Tougher Scenarios Welcome
First-time buyer, lower credit, self-employed, or turned down somewhere else? These are the files we handle every week.
One Loan Officer Start to Finish
You work directly with the same licensed loan officer from first call through closing. No call-center handoffs, no chasing whoever picks up.
Soft Credit, No Obligation
Pre-qualification uses a soft credit check. No hard inquiry until you're ready to apply, no commitment to move forward.
Get Started With Manufactured Home Financing Today
Free 15-minute consultation. Soft credit check only. No hard inquiry until you're ready to apply, and no obligation to move forward.
Frequently Asked Questions
You may qualify for FHA manufactured home financing with a credit score as low as 580, and some lenders consider scores in the 500s with compensating factors and a larger down payment. VA loans offer the most flexibility for veterans with credit issues. A NextGen broker can review your credit and tell you exactly which programs you fit.
Manufactured homes are built to the federal HUD code and carry a red HUD certification label. Modular homes are built to the same NH state and local building codes as site-built homes and are inspected on site. Modular homes typically finance like standard site-built homes, while manufactured homes use specific MH loan programs.
Down payments start at 0 percent for eligible VA and USDA borrowers, 3.5 percent for FHA, and typically 5 percent for conventional MH Advantage or CHOICEHome programs. Chattel loans usually require 5 to 20 percent down. The right program depends on your eligibility and the property.
Most NH manufactured home loans close in 30 to 45 days from application, similar to a standard mortgage. Pre-approval is typically issued within 24 to 48 hours. Foundation inspections and appraisals can extend timelines if the property has unresolved issues.
Yes, if your home meets HUD code, sits on a permanent foundation, and is titled as real property with the land, you can refinance into a standard mortgage program. This often replaces a high-rate chattel loan with a real-property mortgage, lowering your payment significantly. We handle these refinances regularly.
Yes. Eligible veterans can use a VA loan to purchase or refinance a manufactured home in NH, with 0 percent down on qualifying properties. The home must meet HUD code, sit on a permanent foundation, and be classified as real property. Some lenders restrict single-wide VA financing.
When a manufactured home is titled as real property with the land, it is taxed as real estate by the NH town it sits in. Homes in land-lease communities are typically taxed differently. Consult a tax professional and your local NH assessor for specifics on your situation.
Yes. Most FHA, VA, USDA, and conventional manufactured home programs allow you to finance the land and home together as a single transaction, including new-construction setups where the home is delivered and installed after closing on the land. We coordinate these construction-to-permanent loans regularly.
What Our Clients Are Saying
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secure their dream homes.
Frequently Asked Question
How much home equity can I borrow in New Hampshire?
Most New Hampshire lenders allow you to borrow up to 85% of your home’s appraised value minus your existing mortgage balance. This is called the combined loan-to-value (CLTV) ratio. For example, if your home is worth $525,000 and you owe $275,000, your maximum home equity loan at 85% CLTV would be: ($525,000 × 0.85) − $275,000 = $171,250. Some NH credit unions cap out at 80% CLTV, while a few specialty lenders will go to 90% CLTV for borrowers with strong credit.
What credit score do I need for a home equity loan?
You typically need a minimum FICO score of 660 to qualify for a home equity loan at most New Hampshire lenders. Scores of 740 or higher unlock the best advertised rates. Some NH credit unions accept scores as low as 620, though rates will be meaningfully higher and CLTV will usually be capped at 80%. Your credit report also matters: recent late mortgage payments, collections, or a high credit utilization rate can disqualify an otherwise eligible applicant.
Are home equity loan payments tax-deductible?
Home equity loan interest is tax-deductible only when the funds are used to buy, build, or substantially improve the home that secures the loan, per IRS Publication 936. Using the loan for debt consolidation, tuition, or a wedding makes the interest non-deductible at the federal level. The deduction is also subject to the combined mortgage debt cap of $750,000 for loans originated after December 15, 2017. Always confirm with a CPA before assuming a deduction applies to your situation.
How fast can I close on a home equity loan in New Hampshire?
A typical New Hampshire home equity loan closes in 18 to 35 days, depending on the lender. Credit unions often move fastest because they underwrite and fund in-house. Big-bank timelines have stretched to 45 to 60 days due to appraisal backlogs. NextGen Mortgage Loans targets an 18 to 24 day close by pairing files with our fastest lender partners based on your loan size and property type. The single biggest delay is appraisal scheduling, which averages 10 to 14 business days in NH currently.
What closing costs should I expect?
Closing costs on a New Hampshire home equity loan typically run between 2% and 5% of the loan amount. On a $75,000 loan, that is $1,500 to $3,750. Common line items include appraisal ($550 to $750), title search ($200 to $400), recording fees ($30 to $100), origination fee (0% to 1% of loan amount), and flood certification ($10 to $25). Some NH lenders advertise "no closing cost" equity loans, but these usually carry a 0.25% to 0.75% higher rate and often require you to repay the waived costs if you pay off the loan within 24 to 36 months.
Can I get a home equity loan on a rental property?
Yes, but terms are tighter. Most New Hampshire lenders cap non-owner-occupied equity loans at 70% to 75% CLTV, compared to 85% for primary residences. Rates are typically 0.50% to 1.00% higher than owner-occupied rates, and credit score minimums move up to 680 or 700. Seasonal properties in the Lakes Region or White Mountains are often evaluated under second-home guidelines rather than investment-property guidelines, which preserves better pricing. A broker-shopped file is especially valuable for investment property equity loans because lender appetite varies widely.
Is a home equity loan or a HELOC better for debt consolidation?
For debt consolidation, a home equity loan is usually the better choice. You receive the full payoff amount at closing, pay off your credit cards or personal loans immediately, and have a fixed rate and fixed payoff date. A HELOC gives you flexibility but introduces two risks for consolidators: a variable rate that can rise, and the temptation to re-spend on the paid-off cards while now also carrying the HELOC balance. A 15-year fixed home equity loan at 7.49% APR typically saves $8,000 to $18,000 in interest versus leaving $25,000 to $50,000 of credit card debt at 22% to 29% APR.
MLO License Info: NMLS #1621958, NH Broker license #1621958MBRR, and MA Broker license #MB1621958, ME Broker License #1621958, FL Broker License #MBR4542, RI Broker License #20265029LB
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