The Best Mortgage Lenders in Durham, NH
Compare verified mortgage lenders serving Durham, New Hampshire. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Durham
Featured Mortgage Lenders
M&T Bank Mortgage
M&T Bank
M&T Bank stands out as a top regional mortgage lender with extensive experience serving the Seacoast New Hampshire area, including Durham. They maintain a strong physical presence in nearby Portsmouth with dedicated mortgage specialists who understand the local market dynamics. With nearly 25 years of mortgage lending experience in the region, they offer personalized service and competitive rates across all loan types. Their high customer satisfaction ratings reflect their commitment to guiding borrowers through the entire mortgage process with transparency and expertise, particularly valued by University of New Hampshire faculty, staff, and local residents.
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Service Credit Union Mortgage
Service Credit Union
Service Credit Union has built an exceptional reputation throughout New Hampshire's Seacoast region with their member-focused mortgage lending approach. While founded earlier, their mortgage division has over 15 years of specialized experience serving Durham and surrounding communities. They offer particularly competitive rates for credit union members and excel with first-time homebuyer programs and VA loans. Their local mortgage specialists provide personalized guidance through the entire home financing process, and their physical branch presence in nearby Portsmouth ensures accessible, face-to-face service for Durham residents.
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Primary Residential Mortgage, Inc.
Primary Residential Mortgage, Inc.
Primary Residential Mortgage's Portsmouth office has established itself as a premier mortgage broker serving the Durham area with exceptional customer satisfaction ratings. Their team of experienced loan officers specializes in navigating complex mortgage scenarios and offers access to hundreds of loan products through their extensive lender network. They're particularly skilled at serving University of New Hampshire professionals, faculty, and local residents with tailored financing solutions. Their high review ratings reflect their commitment to transparency, competitive pricing, and guiding clients through every step of the mortgage process with expertise and local market knowledge.
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Frequently Asked Questions
Common questions about mortgage lending in Durham, NH
Are there any special mortgage programs for first-time homebuyers in Durham, NH?
Yes, New Hampshire Housing offers competitive first-time homebuyer programs with down payment assistance and below-market interest rates, which are particularly valuable in Durham's competitive market. These programs often have income and purchase price limits, so it's important to work with a lender familiar with these state-specific options to see if you qualify for assistance in this high-demand college town.
How does being a college town affect the mortgage process and property types in Durham?
Durham's identity as the home of the University of New Hampshire creates a unique market with high demand for both single-family homes and multi-unit investment properties. Lenders may have specific requirements for financing multi-family properties or condos due to the student rental market. Additionally, appraisals must carefully consider the mixed-use nature of some neighborhoods, balancing owner-occupant and investor buyer pools.
What are typical closing costs for a mortgage in Durham, NH?
In Durham, closing costs typically range from 2% to 5% of the loan amount, similar to the rest of New Hampshire. Key local components include the NH Real Estate Transfer Tax (split between state and town), which is $15 per $1,000 of the sale price. You'll also pay for a municipal lien certificate from the town, which verifies no outstanding property taxes or assessments, a crucial step in the local closing process.
How do property taxes in Durham impact mortgage qualification and payments?
Durham has a property tax rate that is generally higher than the national average, which lenders must factor into your debt-to-income ratio. For 2023, the combined rate was approximately $27.90 per $1,000 of assessed value. Your mortgage lender will calculate an escrow account for these taxes, increasing your monthly payment, so it's critical to budget for this significant local expense when determining how much house you can afford.
Are USDA rural development loans available for homes in Durham, NH?
Yes, surprisingly, much of Durham qualifies for USDA Rural Development loans, which offer 100% financing with no down payment. While Durham is a developed college town, the USDA's map designates areas outside the immediate downtown core as "rural." This can be an excellent option for eligible buyers seeking to purchase a home in many neighborhoods of Durham without a large upfront cash requirement.
Why Choose a Mortgage Lender in Durham?
Local Market Knowledge
Lenders who understand Durham'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 Durham and get competitive rates on your home loan.