N.H. Rev. Stat. Ann. § 204-C: § 204-C:21
Regulatory Agreements for Mortgage Loans.
Operative Text
With respect to mortgage loans made by the authority under RSA 204-C:15, each mortgage to an eligible mortgagor of multi-family housing shall be subject to a regulatory agreement between the authority and the mortgagor which subjects the multi-family housing, the mortgagor and principals of the mortgagor to limitations established by the authority as to rentals and charges, builder's and mortgagor's profits and fees, the disposition of the said housing subject to the mortgage and maximum distributions and other matters which in the judgment of the authority are necessary or desirable to carry out the purposes of this chapter.
Under N.H. Rev. Stat. Ann. § 204-C:21, when the New Hampshire Housing Finance Authority makes a mortgage loan to an eligible borrower for multi-family housing, the transaction must include a regulatory agreement between the authority and the borrower. That agreement imposes limits on rents and charges, profits and fees, how the property may be transferred, and the amount of distributions that owners may take. The authority has discretion to include additional restrictions it considers necessary to fulfill the chapter's purposes.
Plain English — not legal advice.
Operators of multi-family housing financed through an authority mortgage loan under § 204-C:21 are generally expected to execute and comply with a regulatory agreement before or at closing. Compliant operators keep rents, fees, and owner distributions within the ceilings set by the authority, and they seek authority approval before disposing of or transferring the property. Maintaining thorough records of rents charged, fees collected, and distributions made is a common practice for demonstrating ongoing compliance with the agreement's terms.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Tenants living in multi-family housing covered by a § 204-C:21 regulatory agreement benefit from authority-imposed caps on rents and charges that the property owner agreed to as a condition of financing. If rents or fees appear to exceed what the regulatory agreement allows, tenants may raise that concern with the New Hampshire Housing Finance Authority, which oversees compliance with these agreements. Consulting a tenant-rights organization familiar with New Hampshire affordable housing programs can help residents understand what protections the specific regulatory agreement provides.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 20, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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