Conventional loan in New Hampshire: what it costs on the median home, and when PMI ends
On New Hampshire’s rough $490,000 median, a conventional loan with 5% down means $24,500 at closing and about $4,021 a month with taxes and mortgage insurance; with 20% down, $98,000 and about $3,266. Everything below is worked on those numbers and on the state rules that change them.
| Conforming limit (2026, one unit) | $832,750 baseline in 8 of 10 counties, 2 high-cost counties up to $962,550 (Rockingham County, Strafford County) |
|---|---|
| Median home price (approx.) | $490,000 — statewide order of magnitude |
| 20% down on the median | $98,000 down, loan $392,000, about $2,478/month P&I at 6.5% |
| 5% down on the median | $24,500 down, loan $465,500, about $2,942/month P&I + about $291 PMI |
| PMI ends (5% down, scheduled payments) | request at 80% after about 10 years and 4 months, automatic at 78% after about 11 years and 3 months |
| Property tax (effective) | about 1.93% — roughly $9,457 a year on the median |
| Closing practice | Attorney closing state |
The New Hampshire conforming limit and where jumbo starts
Two numbers decide the question in New Hampshire: the 2026 conforming limit of $832,750 and the price you pay. Keep the loan at or under the limit — by price, by down payment, or with a conforming first plus a second lien — and you get Fannie/Freddie pricing and flexibility (3% down programs, automated underwriting, appraisal waivers). At the state median of $490,000, every scenario below is conforming. Every New Hampshire county is in the table below; see conforming loan limits and jumbo loans.
Conforming limits for all 10 New Hampshire counties
FHFA sets the limit county by county. In New Hampshire, 8 of 10 counties use the $832,750 baseline and 2 — Rockingham County, Strafford County — carry high-cost limits, the highest being $962,550 in Rockingham County, Strafford County. High-cost rows are in bold.
| County | 1 unit | 2 units | 3 units | 4 units |
|---|---|---|---|---|
| Belknap County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Carroll County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Cheshire County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Coos County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Grafton County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Hillsborough County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Merrimack County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Rockingham County | $962,550 | $1,232,250 | $1,489,500 | $1,851,100 |
| Strafford County | $962,550 | $1,232,250 | $1,489,500 | $1,851,100 |
| Sullivan County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
Source: FHFA, Conforming Loan Limit Values for 2026 (county list, mortgages acquired in calendar year 2026). Limits are for Fannie Mae and Freddie Mac loans; FHA and VA use their own county figures.
Monthly cost on a $490,000 New Hampshire home
Each row is the same $490,000 New Hampshire home at 6.5% for 30 years — only the down payment changes. PMI is an illustrative market rate for that down payment; property tax is the state’s rough 1.93% effective rate divided by twelve.
| Down payment | Cash down | Loan | P&I | PMI (est.) | Property tax | Monthly total |
|---|---|---|---|---|---|---|
| 3% | $14,700 | $475,300 | $3,004 | $356 | $788 | $4,148 |
| 5% | $24,500 | $465,500 | $2,942 | $291 | $788 | $4,021 |
| 10% | $49,000 | $441,000 | $2,787 | $184 | $788 | $3,759 |
| 20% | $98,000 | $392,000 | $2,478 | — | $788 | $3,266 |
Under 20% down, conventional loans require mortgage insurance until the loan-to-value falls; the next section gives the ${e.nom} timeline. Payment tables at other amounts and rates: mortgage payment tables.
The PMI timeline on a New Hampshire purchase
Mortgage insurance on a conventional loan is temporary. With only the scheduled payments at 6.5%, the New Hampshire buyer who put 5% down reaches the 80% request point after about 10 years and 4 months and the 78% automatic point after about 11 years and 3 months; with 10% down the request point comes after about 7 years and 11 months. Paying an extra $294 a month toward principal, or asking for cancellation on a new appraisal after two years of appreciation, shortens the clock. The full rules are on how to remove PMI.
Closing costs and taxes in New Hampshire
New Hampshire closings are conducted by a settlement agent who is very often an attorney or a law-firm-owned title agency, although the state does not formally require a lawyer and licensed non-attorney agents also close loans. The closing attorney typically examines title at the county Registry of Deeds, prepares the deed, and disburses funds; New Hampshire is a wet-funding state. Buyers commonly pay between several hundred and roughly a thousand dollars for the attorney or settlement portion.
New Hampshire taxes the deed, not the note: the Real Estate Transfer Tax under RSA 78-B is $0.75 per $100 paid by each of buyer and seller, for $1.50 per $100 combined, and it is not due on a refinance. A mortgage is recorded at the county Registry of Deeds for a per-page fee plus the small LCHIP conservation surcharge. There is no mortgage, intangible or documentary stamp tax. New Hampshire’s real estate transfer tax is $1.50 per $100 (1.5%) in total, split equally by statute — 0.75% paid by the buyer and 0.75% by the seller.
The buyer’s 0.75% share of the transfer tax makes New Hampshire closing costs higher than in neighboring states; budget 3% to 4% of the price including title, attorney and lender fees.
Prepayment, spouses and homestead in New Hampshire
Prepayment. RSA 397-A, the law licensing nonbank mortgage bankers and brokers, is generally read to bar prepayment penalties on first-mortgage home loans made by those licensees, which is why penalties are almost never seen on New Hampshire purchase loans. Fannie Mae and Freddie Mac do not buy loans with prepayment penalties, so a conforming loan will not carry one.
Spouses and title. New Hampshire is a separate-property state following equitable distribution at divorce; only the applicant’s own debts and income go into the loan file.
Homestead. RSA 480:1 exempts $120,000 of equity per person in the family home from general creditors, so a married couple can shelter $240,000; the figure was raised in 2016 and is not indexed.
The complete state layer — licensing, predatory-lending limits, disclosures, foreclosure — is on mortgage laws in New Hampshire.
Frequently asked questions
What is the conforming loan limit in New Hampshire for 2026?
There is no single New Hampshire number: 2 of the state’s 10 counties are FHFA high-cost areas in 2026, with one-unit limits between $962,550 and $962,550 (Rockingham County, Strafford County); the other 8 use the $832,750 baseline. Above your county’s limit, the loan is jumbo.
When can I cancel PMI on a conventional loan in New Hampshire?
Federal law, not New Hampshire law, sets the dates: request at 80% of original value, automatic at 78%, and in any case at the loan’s midpoint. On the median New Hampshire price with 5% down at an illustrative 6.5%, that is roughly 10 years and 4 months and 11 years and 3 months respectively if you only make the scheduled payment.
Does New Hampshire add anything to a conventional loan’s closing costs?
New Hampshire taxes the deed, not the note: the Real Estate Transfer Tax under RSA 78-B is $0.75 per $100 paid by each of buyer and seller, for $1.50 per $100 combined, and it is not due on a refinance. New Hampshire’s real estate transfer tax is $1.50 per $100 (1.5%) in total, split equally by statute — 0.75% paid by the buyer and 0.75% by the seller. The buyer’s 0.75% share of the transfer tax makes New Hampshire closing costs higher than in neighboring states; budget 3% to 4% of the price including title, attorney and lender fees.
Check it at the source (New Hampshire)
- New Hampshire Housing Finance Authority (New Hampshire Housing): the agency that runs the state’s homebuyer programs
- New Hampshire Banking Department: state regulator of mortgage lenders and brokers
- NMLS Consumer Access: check any lender’s or loan officer’s license
- FHFA conforming loan limit files: the county limits shown on this page
Links checked September 22, 2026. Researched and edited by Clément Lacaille (Tech-Bharat); how we research.
Sources
Related: Buying another home before selling the first: qualifying with two payments, Conventional loan requirements in 2026: what Fannie Mae’s guide actually says, USDA vs VA vs FHA vs conventional: the four loan types compared, 2026 conforming loan limits: $832,750 in most counties, up to $1,249,125 in high-cost areas. First home in New Hampshire: programs and assistance. Hub: Conventional loan.