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First-Time Homebuyers

  • Low to no down payment options
  • Low closing costs
  • Seller credits could save you more
  • Conventional fixed-rate mortgages
  • Adjustable rate mortgages (ARMs)

From pre-approval to the closing table, we’re here for you. St. Mary’s Bank is your trusted partner for a worry-free first-time homebuying experience. We can assess your purchasing potential and identify the ideal financing solution to ensure a seamless process from start to finish. 

We specialize in New Hampshire, Massachusetts, and Maine first-time homebuyer programs.

Welcome Home First-time Buyer Program 

Welcome Home opens the door to first-time buyers looking to purchase one-unit residential homes. Eligible borrowers must have a household income at or below the HUD area median income level. Settle into your new home soon with low rates, low down payment requirements.

Low Down Payment Requirement - 97% Financing

Borrowers can purchase a home with very little money down, and a portion or all of the down payment can be in the form of gifts. We also allow up to 6% of the seller credit (based on the sale price) to be used towards closing costs and prepaid expenses.

Please note that homebuyer education is a requirement of this program.
Please select a seminar date and location that's convenient to you.

New Hampshire Housing Finance Authority (NHHFA)

Available to qualified low- and moderate-income persons in the state of New Hampshire. NHHFA offers down payment and closing cost assistance along with other money-saving programs. 

Learn More

Purchase Now – No Down Payment Program

Our Purchase Now 100% financing mortgage program requires no down payment! Flexible terms, high loan limits and a simple qualification process make homebuying refreshingly simple.

  • 100% financing on a primary residence, single-family home and condominium
  • 7/1 and 10/1 Adjustable Rate Mortgage (2% annual, 5% lifetime cap)
  • Minimum credit score of 720 to qualify

Get Pre-Approved or Apply for a Mortgage

Ready to finish your application? Log in to complete.

Earn Cash Rewards with HomeAdvantage

  • Partner with a trusted local agent
  • Save an average of $1,600 at closing
  • Open to both first-time and repeat homebuyers 
How quickly can you close on a mortgage loan?
Typically, you can close your mortgage loan within 45 days of application, depending on the time of year and the type of transaction. We can sometimes close sooner than that, depending on the transaction and the timeliness of information and documentation provided.
How much are mortgage closing costs?
Mortgage closing costs vary, depending on the type of transaction (purchase or refinance), size of the loan and whether or not you are paying "points”. Additional services such as legal review of a trust or, power of attorney and other ancillary services may add to the fees that we charge as these services add to our costs to process and approve your loan.
Do you have special first-time home buyer mortgage programs?
Yes, we have many programs to meet the needs of first-time buyers. Our Welcome Home Program helps buyers with low to moderate income levels offering low rates and down payment requirements. In addition, we participate in New Hampshire Housing, FHA, and several other programs designed to meet the needs of first-time homebuyers. We also offer free prequalification by phone or in person to potential homebuyers to determine the best mortgage programs to fit their specific home buying needs.
What will I have to bring to closing other than the amount needed to cover closing costs?
A picture identification, copy of your insurance binder (or existing policy) with a paid receipt and a certified check for any monetary amount required.
How much money will I need to bring to closing?
You will be provided with a "Closing Disclosure" form three (3)-days prior to your scheduled closing date. The "Closing Disclosure" will state the specific amount of funds that you are required to bring to closing in the form of a cashiers/bank check, made payable to the closing agent.


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