Homebuyer Tax Credit Calculator
Save up to $2,000 a year on your federal taxes by taking advantage of the Homebuyer Tax Credit Program. If you qualify, you could receive a federal tax benefit of up to $167 per month. That’s real money to help with your mortgage payment!
Learn more about the Homebuyer Tax Credit or click here to see how the Homebuyer Tax Credit works over time.
Potential average monthly savings over the first year of
DISCLAIMER: Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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The Homebuyer Tax Credit (HTC) can decrease the income taxes you owe and boost your take-home pay, which helps you qualify for a mortgage and make your mortgage payments. The Homebuyer Tax Credit is not a one-time credit. It is an annual tax credit of up to $2,000 each year for the life of the original mortgage, as long as you live in the home. See the graph below, which illustrates how much potential cost-savings the HBTC has over the life of your mortgage loan.
- The amount of money you would pay each year in interest.
- The portion of that interest you could save each year by using the Homeowner Tax Credit
For more information on these loan products, please visit the Homebuyer Tax Credit page.