A little bit about the NH Housing Finance Authority.

Thursday, October 8, 2015

You may have seen that I visited D.C. a few weeks ago, and I didn't go alone. I was joined by others involved with an agency that is trying to make housing in New Hampshire more accessible. 

The goal of the New Hampshire Housing Finance Authority (NHHFA) is rather simple- to help create housing that is affordable to people at all income levels and to support the real estate sector, in turn, strengthening the overall economy of the state. The NH legislature founded the organization in 1981 when they realized that it had become too difficult for the elderly and low income families to find decent housing in the state, though now it’s a self-sustaining organization rather than a state agency. This makes the NHHFA one of 37 housing finance authorities throughout the country independent of the state government.

 Some different programs the NHHFA works to provide include tax exempt bonds, mortgage backed securities, and federal rental assistance programs, as well as other homeownership and housing development programs all intended to make it easier to find affordable, quality housing in the state. The NHHFA also spends a good deal of time tracking data in regards to different demographics in order to improve planning and policies.

 For the fiscal year of 2015, the NHHFA will invest over $280 million into the state’s economy, and is projected to do 60,000 loans. Needless to say, this is a very important agency that is doing great things for the state of New Hampshire, and I was thrilled to have the opportunity to travel to D.C. with other members last month.

 I would again like to thank Senators Jeanne Shaheen and Kelly Ayotte for meeting with us. An agency like the NHHFA cannot function without support at the federal level, and it’s great to know that the people we’ve elected to represent our state recognize the importance of this organization.

Happy fall! And watch out for a hike in rates!