Financing & Inspection Essentials for Buyers in the Lakes Region

Navigating mortgages, necessary inspections, and permits is key to a smooth home purchase in the Lakes Region. Understanding your options and local requirements will help you buy with confidence.

Common Mortgage Options

• NH First-Time Buyer Programs:
  The New Hampshire Housing Finance Authority offers down payment assistance ranging from $5,000 to $25,000, plus competitive fixed-rate loans and discounted mortgage insurance for buyers under set income limits.​

• Conventional Loans:
  Available with as little as 3% down and reduced mortgage insurance for buyers who meet eligibility requirements. Most buyers opt for a 30-year fixed-rate mortgage for budget predictability.​

• Government Loans:
  FHA loans require a credit score of at least 580 for a 3.5% down payment, or as low as 500 with 10% down. VA and USDA loans offer zero down for eligible veterans and rural buyers. FHA loan limits start at $524,225 in 2025 for single-family homes, though actual limits vary by county and lakefront properties may need other financing.​

• Homebuyer Education:
  Most loan programs require buyers to take a homebuyer education course to qualify for assistance and better rates.​

Inspection Types

• Standard Inspections:
  All buyers should schedule thorough home and septic inspections. Lake homes require added diligence regarding foundation stability, moisture, roof condition, and possible mold or water damage.

• Specialty Inspections:
  Water quality, dock safety, and shoreline erosion are especially important in the Lakes Region, and may require specialty inspectors.

• Radon and Lead:
  Testing for radon and lead is wise, as older homes near water have increased risk.

• Permitting and Compliance:
  Homes within 250 feet of lakes must comply with the NH Shoreland Protection Act, covering alterations and installations. A local agent can guide you through community or association rules about landscaping, docks, or additions.​

Permit Needs

• Waterfront Changes:
  Any work (docks, retaining walls, tree removal) near the lake requires approval from local boards and the state DES.

• Building/Remodeling:
  Obtain building permits for renovations, additions, and new construction, including septic upgrades.

• HOA/Community Rules:
  Review homeowners association bylaws for specific restrictions, especially in private lake communities.

Tip: Partnering with a local mortgage specialist and inspection team ensures you secure the best loan for your budget and catch issues before you buy.

Talk to me or Kerry for help selecting lenders and inspectors who know the Lakes Region—and get the expertise you deserve.