Dover ended 2023 with a median sale price of $405,000—up 4.8% year-over-year—while days on market shrank to nine, the tightest in Strafford County. Entry-level condos in the downtown mill conversions start at $260k, but most detached homes list between $375k and $525k, with waterfront properties along the Cocheco commanding up to $750k. New construction is concentrated in the Bellamy corridor, where local builder The Jones Company is offering NMHL-endorsed inventory that qualifies for both FHA one-time-close construction loans and 3% down conventional financing.

• Inventory: 1.3 months (seller’s market)
• Appreciation: 6.1% CAGR over five years
• Typical down payment: 8.4% (vs. 14% statewide)

Because Dover shares a MLS with Portsmouth, buyers often compete with waived inspections and escalation clauses; having a fully underwritten NMHL pre-approval in hand is now table stakes.

New Hampshire Housing’s Home Flex Plus provides a 0%-interest second mortgage up to $15,000 that is forgiven after four years if you stay in the home. Dover participants can layer this on top of our NMHL FlexGrant™ that gifts 2% of the purchase price—enough to cover the 3.5% FHA down payment on a $400k purchase. Veterans have even better options: our VA Zero+ waives the 2.3% VA funding fee for disabled vets and credits the $6,000 in closing costs, meaning a $0 cash-to-close loan is possible in Dover.

Buyers earning up to $124,900 (Strafford County limit for 2024) can also use the Community Heroes Program if they work for the City of Dover, Dover School District, or Wentworth-Douglass Hospital—an extra $2,500 grant that we apply directly to your first year of homeowner’s insurance.

Strafford County’s average VantageScore is 699, but 18% of Dover households sit below 620. NMHL’s FHA Alt program allows non-traditional credit—think rent, utilities, even Netflix—to replace traditional tradelines, and we approve down to 580 with only 3.5% down. If your score is 550-579, our FreshStart program requires 10% down but will accept a gift from family or the NH Housing DAP; last month we closed on a $315k Bellamy Road cape with a 567 score and $14k gifted from the buyer’s parents.

Recent medical collections or a prior short sale aren’t deal-breakers: we can disregard medical debt under $2,000 and approve buyers two years after a short sale with 20% down through our Portfolio ReStart loan at rates only 0.375% above conventional.

With UNH, Liberty Mutual, and a booming craft-beer scene, Dover has one of the state’s highest percentages of 1099 workers. Traditional underwriting falls apart when Schedule C shows $42k but your actual gross deposits hit $180k. NMHL’s Bank Statement program solves this by averaging 12 or 24 months of business bank statements and applying a 50% expense factor—no tax returns required. We closed a $510k riverfront colonial in January for a Dover brewery owner who deducted everything down to $38k net income; the bank-statement analysis qualified him for a $550k loan at 6.75% with 15% down.

We also offer 1099 Only for drivers, tutors, and seasonal hospitality workers: supply the last two years of 1099s plus a current YTD earnings statement and we’ll use the gross, not the net. Loan amounts go to $766,550 in Strafford County, so most Dover inventory fits comfortably inside the limit.

Downtown & Opera House District: Walk to restaurants, breweries, and the indoor farmers’ market. Historic brick condos trade at $265-$320 per square foot and qualify for FHA spot approvals—NMHL maintains a pre-approved list. Parking deeded spots add $25k-$30k to price but keep resale velocity high.

Garrison Hill: Tree-lined streets, 1950s-1970s capes and colonials on quarter-acre lots. Average DOM is 11 days; prices range $375k-$525k. Good school district (Dover High rated 8/10) and the lowest crime stats in the city.

Cocheco River: Waterfront homes fetch a 12-15% premium and allow docking rights. Flood insurance runs $650-$900/year; NMHL’s in-house flood desk can certify elevation certificates same day to keep insurance quotes accurate.

Bellamy/Back River: Rural feel, 1-3 acre lots, newer construction. Septic systems required; we offer USDA One-Close construction at 0% down if the lot is outside the 03820 dense-census tract, which most of this area is.

Dover’s 2024 municipal rate of $22.06/thousand translates to $7,300-$9,500 annually on the typical $375k-$450k purchase. Because New Hampshire relies heavily on property tax to fund schools, rates vary sharply by town; Dover’s rate is lower than Portsmouth ($25.63) and Exeter ($27.11), making it a value play on the Seacoast. NMHL escrows taxes and insurance for every loan, so your monthly PITI already includes 1/12 of the annual bill—no surprises at year-end.

Homeowner’s insurance averages $1,080 annually, but riverfront or flood-zone homes can see surcharges; we partner with Seacoast Insurance Group to deliver instant quotes during pre-approval so your DTI is accurate. Closing costs for a $400k FHA buyer typically run $9,800 (excluding points); NH transfer tax is split 50/50 between buyer and seller at $0.75 per $100, so budget $1,500. Our NMHL Closing Guarantee credits you $500 per day if we miss the agreed-upon close date, provided you submit docs within 72 hours of request.