The New Hampshire Community Development Finance Authority (NH CDFA) has awarded the New Hampshire Community Loan Fund $262,500 to help families with low incomes purchase new, affordable, ENERGY STAR manufactured homes.

"This award will give more families with low incomes opportunities to buy safe, affordable homes,” said Katie McQuaid, Community Loan Fund Senior Vice President of Philanthropy & Community Engagement.

The energy-efficient manufactured homes are anticipated to cost well below the median cost of a home in New Hampshire — $514,000 in 2024 — and will also help homeowners save on utility bills.

New Hampshire faces a severe and urgent affordable housing crisis which impacts employers and families across the state. A recent report highlighting the state’s housing needs found New Hampshire will need nearly 60,000 new housing units before 2030, 40,000 of which are homes needed for purchase. Today, manufactured housing remains the most affordable option for many working families and first-time buyers.

Housing security increases health, psychological, educational, employment, and safety outcomes. When homeownership rates increase, crime is lower, and kids do better in school — everyone wins.

The CDFA Tax Credit award will help the Community Loan Fund offer downpayment and closing cost assistance funding to help people with low incomes purchase new ENERGY STAR manufactured homes. All homes will be for people with low incomes (80% AMI or below). 

“This year’s awardees have demonstrated a deep dedication to their communities and are leading impactful projects that will deliver critical services and infrastructure needed throughout the Granite State," stated Katy Easterly Martey, Executive Director of New Hampshire CDFA. “CDFA’s Tax Credit and Capacity Building Programs are a vital resource for New Hampshire nonprofits and municipalities to advance projects that create the foundation for strong, thriving communities and grow our economy.”

NH CDFA Tax Credit awards are made to organizations in the form of tax equity. New Hampshire businesses support the selected projects by purchasing the tax credits, resulting in the nonprofit receiving a donation and the company receiving a 75 percent New Hampshire state tax credit against that contribution. The credit can be applied against the Business Profits Tax, Business Enterprise Tax, or Insurance Premium. 

Does your business want to help create more affordable, energy-efficient housing in New Hampshire? Contact Katie McQuaid for more information about purchasing our tax credits: kmcquaid@communityloanfund.org 

• To learn more about CDFA’s Tax Credit Program, visit: https://nhcdfa.org/investing-in-nh-communities/tax-credit-program/.