New Hampshire Mortgage Calculator
Calculate your New Hampshire mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Manchester, Nashua, Concord, Dover, Portsmouth, and all of New Hampshire.
Useful for home buyers in Manchester, Nashua, Concord, Dover, Portsmouth, and all of New Hampshire.
Why use a New Hampshire Mortgage Calculator?
New Hampshire has one of the highest property tax rates in the US at 2.05%. This calculator estimates your payment, PMI, property tax, and closing costs.
New Hampshire has one of the highest property tax rates in the US at 2.05%. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
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New Hampshire Property Tax: The average effective property tax rate is about 2.05%, one of the highest in the nation. New Hampshire also has a Real Estate Transfer Tax of 0.75% ($0.75 per $100 of sale price).
Average Home Prices in Major New Hampshire Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Manchester | $450,000 | $380,000 | $350,000 | $300,000 |
| Nashua | $470,000 | $400,000 | $370,000 | $320,000 |
| Concord | $420,000 | $360,000 | $330,000 | $280,000 |
| Dover | $450,000 | $390,000 | $350,000 | $290,000 |
| Portsmouth | $700,000 | $600,000 | $550,000 | $450,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in New Hampshire
- Property Tax: New Hampshire has one of the highest property tax rates in the US at an average of 2.05%. Property taxes are paid annually and may be included in your monthly payment.
- Real Estate Transfer Tax: New Hampshire charges a transfer tax of $0.75 per $100 of the sale price (0.75%), typically split between buyer and seller.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: New Hampshire's closing costs include title insurance, appraisal fees, and other expenses, typically 2-5% of the purchase price.
Example: On a $500,000 home with 10% down in Manchester, you pay PMI and property tax. Annual property tax would be approximately $10,250, and transfer tax around $3,750 (often split between buyer and seller).
Frequently Asked Questions
New Hampshire has high property taxes (averaging 2.05%) because the state has no broad-based sales or income tax. Property taxes fund local services including schools, police, fire departments, and municipal operations. The tax structure is part of the "New Hampshire Advantage" - while property taxes are high, residents don't pay state income or sales tax on most purchases.
New Hampshire charges a Real Estate Transfer Tax of $0.75 per $100 of the sale price (0.75%). This tax is typically split equally between buyer and seller, each paying $0.375 per $100 of the sale price. For a $500,000 home, the total transfer tax would be $3,750, with buyer and seller each paying $1,875. This tax must be paid at closing before the deed can be recorded.
Yes, New Hampshire offers several property tax relief programs. The Low and Moderate Income Homeowner's Property Tax Relief program provides a rebate on a portion of the state education tax. Additionally, many municipalities offer exemptions for elderly, disabled, blind, veterans, and surviving spouses of veterans. The amount of relief varies by municipality and eligibility requirements. These programs can significantly reduce your property tax burden if you qualify.