First-Time Homebuyer Program

Unlock the Door to Your First Home!

Our First-Time Homebuyer Program is designed to make homeownership accessible and affordable for all first-time buyers.

Key Features

• Borrow up to $500,000.00.

• Offered to first-time homebuyers only.

• Only 5% down payment required.

• No requirement for mortgage insurance.

• Multiple term options available to repay the loan.

• Origination fee is waived.

• Specific requirements for loans secured by manufactured homes exist. Talk to us for more information.

Frequently Asked Questions

How are Mortgage Pre-Approvals and Mortgage Pre-qualifications different?

• Pre-approvals are authorized mortgage decisions that tell a home buyer how much home they’re permitted to purchase and for which mortgage rates and programs the buyers qualify. Pre-approvals use verified credit scores, income and asset information, and employment history. They’re a reliable, accurate tool to help you buy your home.

• Pre-qualifications estimate how much home you can buy based on self-assessment and self-reporting.
   

Is it better to buy or rent?

Each person’s needs differ but a home is an investment.  The benefits of buying a home are:

• You start to build equity for future needs.

• There can be tax benefits when owning a home.

• Having a home provides stability and eliminates the risk of increasing rental expense.

What costs can I expect to pay at closing?

• Appraisal

• Credit Bureau Fee

• Employment Verification Fee

• Attorney Fee

• Title Search and Filing Fees

• Title Insurance

• Tax Escrow Deposits – if you are required or elect to escrow for property taxes.

• Homeowners Insurance Deposits – if you are required to escrow for insurance.

• Tax Monitoring Fee

• Transfer Tax – New Hampshire only

Do I have enough for a down-payment?

The down-payment depends on the type of loan you are obtaining and type of home you are purchasing.  There are many federal grant programs that allow borrowers to put down 0%.  Conventional first time homebuyer programs usually require as little as 3-5% down.

Questions?

To have a conversation or begin the loan process today, contact Ed Bidlack, Cody Marshall, Tiffany Staples or stop by any one of our convenient financial centers.

 

Ed Bidlack, Vice President, Senior Residential Banking Team Leader 

NMLS# 16682

Phone: 1 (603) 526-5606   |   edward.bidlack@ledyard.bank

178 County Road, New London, NH 03257





 

Cody Marshall, AVP, Financial Center Manager

NMLS# 1165771

Phone: 1 (603) 640-2670   |   cody.marshall@ledyard.bank

38 South Main Street, Hanover, NH 03755

Tiffany Staples, Residential Banking Advisor

NMLS# 2048651

Phone: 1 (603) 415-2759   |   tiffany.staples@ledyard.bank

1 Pillsbury Street, Suite 303, Concord, NH 03301

 Loans subject to credit and property approval. Additional terms and conditions may apply. Program subject to change or discontinuation. 
Ledyard National Bank NMLS# 407525