The Best Mortgage Lenders in Andover, NH
Compare verified mortgage lenders serving Andover, New Hampshire. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Andover
Featured Mortgage Lenders
Merrimack County Savings Bank
Merrimack County Savings Bank
As one of New Hampshire's oldest and most trusted community banks, Merrimack County Savings Bank has been serving the Andover area and surrounding communities for over 150 years. They offer personalized mortgage services with local decision-making, competitive rates, and deep understanding of New Hampshire's unique housing market. Their mortgage specialists provide one-on-one guidance through the entire home financing process, from pre-approval to closing, with a strong reputation for exceptional customer service and community commitment.
Loan Types:
Primary Residential Mortgage, Inc.
Primary Residential Mortgage, Inc. - Concord
This highly-rated Concord-based mortgage lender has built an outstanding reputation serving the Andover area and throughout central New Hampshire. With over 200 excellent reviews, they're known for their expertise in rural and suburban properties, competitive rates, and exceptional customer service. Their local team understands the specific needs of Andover homebuyers, including rural property financing and first-time homebuyer programs. They offer streamlined digital processes while maintaining personalized, local service.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC - Manchester
Movement Mortgage has established a strong presence throughout New Hampshire, including service to Andover residents. With a national platform and local expertise, they combine competitive rates with efficient digital processes. They're particularly noted for their quick closing times and excellent communication throughout the mortgage process. Their Manchester-based team understands the New Hampshire market and offers specialized programs for various property types found in the Andover area, from traditional homes to rural properties.
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Frequently Asked Questions
Common questions about mortgage lending in Andover, NH
Are there any first-time homebuyer programs specifically for Andover, NH residents?
Yes, New Hampshire Housing offers its Home Flex Plus program, which provides competitive fixed-rate mortgages with down payment assistance to eligible first-time buyers in Andover. Additionally, the Town of Andover may have local resources or partnerships; checking with the Andover Town Offices or a local mortgage lender familiar with Merrimack County is recommended for the most current local incentives.
How do property taxes in Andover, NH impact my mortgage qualification and monthly payment?
Andover's property tax rate is a significant component of your monthly escrow payment. As of the latest data, Andover's rate is notably higher than the national average, which lenders will factor into your debt-to-income ratio. It's crucial to get an accurate estimate of taxes on your target property, as this can substantially affect your overall housing payment and borrowing capacity.
What are typical mortgage rates for buyers in Andover, and how do they compare to state averages?
Mortgage rates in Andover generally align with national and state averages for New Hampshire, but your specific rate will depend on your credit profile, loan type, and lender. Given Andover's mix of rural and suburban properties, rates for certain loan types like USDA or VA loans (if applicable) can be very competitive. It's wise to compare offers from local credit unions, like the New Hampshire Federal Credit Union, alongside national lenders.
Are USDA Rural Development loans available for homes in Andover, NH?
Yes, most of Andover, NH is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a major advantage for qualifying buyers looking at the more rural parts of town, making homeownership more accessible. You should confirm the specific property's eligibility using the USDA's online eligibility map, as some smaller village areas might have different designations.
What unique appraisal considerations should I be aware of when getting a mortgage for an older home in Andover?
Andover has many historic and older homes, which can present unique appraisal challenges. Lenders will require an appraisal that carefully evaluates the condition of major systems (well, septic, heating, structure) common in New England homes. Issues with outdated electrical systems, heating oil tanks, or a lack of central air conditioning can affect the appraisal value and the loan's underwriting approval, so a thorough inspection is critical.
Why Choose a Mortgage Lender in Andover?
Local Market Knowledge
Lenders who understand Andover's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in New Hampshire.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Andover and get competitive rates on your home loan.