In 1983 a non-profit organization known as The New Hampshire Community Loan Fund was founded. Their goal was affordable loans and housing for low to moderate income citizens of NH.

Their financing model was established in 1984 when the Sisters of Mercy loaned them $43,000 (at low interest). That money was loaned to 13 families in Meredith who lived in a manufactured housing park and wanted to purchase the park from its aging owners.

This was the first NH Co-Op....one of many to come. They are now known as the Meredith Center Cooperative listen to their story! This milestone meant that the residents now owned the land beneath their homes, they controlled when and if they would move,their rates were stabilized and any sub-structure improvements built more equity in their homes.

 To date the Loan Fund has helped fund more than 90 Co-Ops throughout the State and even in this economy.... they are still lending. In February of this year the NHCLF is investing, in the State of NH, 1.5 million dollars where it will be lent to small businesses and non-profits, people re-financing manufactured homes and co-ops buying manufactured home parks.

In the state of New Hampshire one of the most difficult properties to finance is manufactured housing. If the home is on its own land....there is hope. But if it is in a park and older than 1973....cash is the best option. Even if you can manage to obtain financing....it usually means a larger down payment and higher interest rate. However,if your property is in a co-op....not only may your values be higher....there  are also more lending sources available for potential Buyers.

My husband and I have reached retirement age. And like so many others, circumstances have dictated that we keep working.

We sold our home of 25 years to not only downsize but to reduce monthly payments. Our goal was to buy a place we could still afford to live in when working may no longer be an option. Fortunately we have found a lovely manufactured home in "The Meadows" in Hopkinton NH. It has a 3 bedrooms, 2 baths and a sunroom on 1/4 acre lot with a peaceful river in he back. Best of all they are taking steps to go Co-op! And will be working with the NH Community Loan Fund.

Not only is this an improvement financially but as a Realtor I will now have first hand information on the benefits and "inner workings" of the process. This can only help to benefit future clients!

I will be posting Blogs about the proceedures and our progress.....

Talk about good timing!!

Concord NH Realtor