6 Best Jumbo Loans in New Hampshire


Borrowers in New Hampshire can easily finance large home purchases with jumbo loans.

Key Terms

  • Jumbo loans offer higher limits for easy financing of larger homes.
  • These loans do not always require large down payments.
  • Borrowers can use a single loan to finance a large or expensive property instead of multiple conventional loans.

With its historical charms, low crime rates, and wide variety of outdoor settings, New Hampshire offers a way of life that appeals to many. Whether you like the lovely shores, statuesque mountains, or quaint towns in the Granite State, you can create a life of security and vibrance in this New England locale. 

Many homebuyers in New Hampshire may have noticed recently that home prices are going up. According to the New Hampshire Association of Realtors, the median sales price for a home in the state is $395,000. Prices on newer and modern homes are skewing even higher, taking them over conforming limits and meaning that many homebuyers in the state may have difficulty financing a home with a conventional mortgage. 

For the most recent year, the HDMA data places New Hampshire 36th in the country in terms of mortgage origination activity, with a total of $1.22 billion in jumbo mortgages originated. If you’re looking for a jumbo mortgage in New Hampshire, you can rest assured many others are doing the same. 

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What is the jumbo loan limit in New Hampshire?

The jumbo loan limit in New Hampshire is $647,200 for most counties in the state. In Rockingham and Strafford Counties, which are close to the Greater Boston Area over the state line, the jumbo loan limit is $770,500. Any loan that exceeds either $647,200 or $770, 500 is a jumbo loan, depending on the county.

New Hampshire Jumbo Loan Limits (December 2022)

New Hampshire county-by-county jumbo loan, conforming loan and FHA loan limits.

New Hampshire
County
New Hampshire
Jumbo loan
(1-unit)
New Hampshire
Conforming
loan limit
(1-unit)
New Hampshire
FHA loan limit
(1-unit)
Belknap$647,200+$647,200 $420,680
Carroll$647,200+$647,200 $420,680
Cheshire$647,200+$647,200 $420,680
Coos$647,200+$647,200 $420,680
Grafton$647,200+$647,200 $420,680
Hillsborough$647,200+$647,200 $430,100
Merrimack$647,200+$647,200 $420,680
Rockingham$770,500+$770,500 $770,500
Strafford$770,500+$770,500 $770,500
Sullivan$647,200+$647,200 $420,680

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6 Top New Hampshire jumbo loan lenders

If you’re ready to learn more about the best jumbo mortgage lenders in New Hampshire, here are the top options we’ve found through our research.

1. BMO Harris Bank

BMO Harris Bank is an established player in the mortgage industry that ranks 16th largest by total assets in the country. The bank offers a full range of financial products, including a jumbo loans.

We spoke to a BMO Harris loan officer to get additional details about the doctor mortgage, many of which aren’t published. Here are some key terms and highlights:

  • 10% down to $1 million (740+ credit score)
  • 15% down to $1.5 million (720+ credit score)
  • 20% down to $2 million (700+ credit score)
  • 25% down to $3 million (700+ credit score)
  • 30% down to $5 million (700+ credit score)
  • 45% down over $5 million (700+ credit score)
  • 30/20/15/10 year fixed
  • 5/6, 7/6, and 10/6 ARMs
  • All 50 states
  • 12 months reserves

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

2. TD Bank

TD Bank is a huge bank with deposits over $600 billion, putting it as the sixth largest bank in the United States. You don’t grow that large without having a competitive jumbo loan product.

We spoke to a loan officer at TD Bank to learn more about their jumbo loan program and thought they had some unique features. Here are the basics:

  • 10% down up to $3 million
  • Requires a credit score minimum of 700
  • Can lend up to $4.5 million
  • If you qualify for the wealth program, you are eligible for jumbo loans up to $6 million with 30% down or loans above $6 million with 35% down.

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

3. Flagstar Bank

Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.

We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

4. SoFi

SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.

We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount.
  • 15-year or 30-year fixed rate products available

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

5. Huntington Bank

Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive physician loan product with no money down financing options.

We contacted a loan officer at Huntington Bank to gather information about the doctor mortgage and here’s what we heard back:

  • Loan amounts up to $2.5 million
  • Purchase and refinance available
  • Refinancing allows you to take up to $750,000 of equity out of your home.
  • Second homes are eligible
  • Multi-unit properties are eligible

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

6. Keybank

Keybank has over $170 billion in assets and is the 24th largest bank in the Untied States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among medical doctors throughout the country. One of their key financial products is a jumbo mortgage loan.

We contacted Keybank to learn more about their jumbo loan mortgage and here are the key terms and highlights:

SilverKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.

GoldKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
  • Available for second homes and investment properties.

Jumbo Interest-Only Mortgages

  • Loan amounts up to $3.5 million
  • 30% down on mortgages up to $1.5 million for primary residences
  • 35% down on mortgages up to $2 million for second homes
  • No private mortgage insurance required
  • ARM-only options

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

Why a homeowner in New Hampshire might take out a jumbo loan

As prices continue to rise for homes in New Hampshire, more and more people are turning to jumbo loans? Why? Well, these “non-conforming” loans offer much easier financing for larger or more expensive properties. If you already did the research on your chosen property from the NMLS and realized it’s above conforming loan limits, you need to keep working and look at alternatives. Real estate purchases made through a jumbo loan help you avoid some of the restrictions of a conventional home loan.

Jumbo loans are not constrained by the same limits you will see on conventional mortgages. A homebuyer looking to purchase a home with a price tag over the state limit can easily finance it with a jumbo loan. If that homebuyer were to go with a “conforming” loan, they would need to put down a large down payment to cover the amount that is over the limit. This can leave New Hampshirites out of pocket.

A jumbo loan, on the other hand, does not typically require a large down payment. That is not true of many loans backed by the Federal Housing Finance Agency. For fixed-rate mortgages, the loan rates from mortgage lenders might be better, but they may not cover high value homes or can come with big down payments.

If you already looked into an FHA loan backed by Fannie Mae or Freddie Mac and realized that it won’t meet your needs, look for a loan type that extends beyond conforming limits. Verify any premiums, interest rates, closing costs, monthly payments, and underwriting rules, but jumbo loans help to bridge the gap for people purchasing high-value real estate properties.

Is a jumbo loan in New Hampshire a good idea for you? 

You should consider two factors when assessing a jumbo loan: interest rate and your own credit score. Jumbo loan lenders hold borrowers to a high standard, since they are exposed to more risk with these loans. Therefore, you should have a good credit score if you wish to qualify for a New Hampshire jumbo loan. 

These loans often have higher interest rates, as well. New Hampshirites who consider jumbo loans a good fit for their needs consider this higher rate a fair price to pay for the easy financing they can get on a large or new property. If that sounds reasonable to you, a jumbo loan might be a great idea for your next home purchase. 

If you’re looking to explore jumbo mortgage loans in other states, check out our national overview of jumbo loans as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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