Your Turn FAQ

Q: How can Your Turn help me buy a home?

If you’re buying a new manufactured (mobile) home, your household income is under a certain level, and you qualify for a Welcome Home Loan from the New Hampshire Community Loan Fund, Your Turn can make it affordable by offering $10,000 for a down payment and $3,500 for closing costs.

Q: Do I have to pay that money back?

Yes, but not until your regular mortgage is paid off, or you sell, refinance, or move out of the home.

Q: Can the home be located anywhere?

The home must be located in New Hampshire and in a resident-owned community (ROC) or on land you own or are buying.

Q: How low does my income have to be?

It depends what New Hampshire county your new home is in, but, for example, if you live with one other person and, together, you earn less than $53,200 to $62,550, you might qualify. Call us at (603) 224-6669.

Q: Can I use Your Turn to replace the home I’m living in now?

Yes.

Q. How about for repairs, like a new roof?

Unfortunately, Your Turn can only be used to buy a new home.

Q. What’s the catch? Why are you doing this?

The NH Community Loan Fund is a nonprofit that exists to help people with low- and moderate-incomes become more financially secure and independent. One of the ways we do this is by helping them buy manufactured homes. In many N.H. communities, manufactured homes are the most-affordable housing choice, and we want more people to have that opportunity.

Q: Can I get pre-approved for a loan?

Yes! It’s a great idea to get pre-approved for a Welcome Home Loan, so you can shop for homes with your price range in mind. We’ll also pre-approve you for Your Turn assistance with down payment and closing costs.

If we can’t pre-approve your loan right now, we’ll let you know why and what you need to do to be approved next time.

Q: How do I find the right home?

Visiting a manufactured-home dealer or retailer is a great way to see homes for sale, and also to learn what options you have to order the home the way you want it. It is a good idea to shop around and find the home and the dealer that is right for you.

Q: Do I need to hire contractors to set up the home?

The retailer who sells you the home will give you a price that includes setup, and will oversee the installation.

Q: What about the cost of installing the home? Is that extra?

Your Welcome Home Loan can include all the installation costs, including the foundation or slab you choose, the skirting, and landscaping—everything you need to be ready to move in. The loan can even include the cost of removing the manufactured home you’re replacing.

Q: What does it cost to apply for a loan?

The only cost to apply is $27.85 per borrower for the credit report fee.

Q: What should I expect during the application process?

We will ask you to complete a loan application and provide financial information such as pay stubs and bank statements. We will work with you to make sure you provide all the documentation to make the application process move smoothly.

Q: How long will it take from when I apply to when I move in?

It can take several months. When you are shopping, you’ll want to ask the manufactured-home dealers or retailers how long it will take from the date you order the home to when you move in, so you can plan accordingly.

Need more information? Call us. Our loan originators are ready to explain the process so you can decide if it’s the right move for you.

Approved manufactured-home retailers