Homebuyer Tax Credit

Save up to $2,000 a year for the life of your mortgage.

The Home Start Homebuyer Tax Credit is a federal Mortgage Credit Certificate (MCC) program designed to provide you with a long-term tax benefit to help you afford homeownership. An MCC program allows you to claim a tax credit for a portion of the mortgage interest paid per year up to $2,000 for the life of the original mortgage, for as long as you live in the home.

Program Benefits

Increase your take-home pay or a larger refund
Reduce your tax withholdings and increase your take-home pay or get a larger refund.
Save up to $2,000 a year
Save you up to $2,000 a year for the life of your loan.
Make your home more affordable
Use your increased take-home pay to offset your monthly mortgage payments, making your home more affordable.
Afford a higher priced home
Potentially qualify for a higher priced home during the homebuying process.

See if you’re eligible for the homebuyer tax credit.

Select the statement that best describes you.

Because you have not owned a home within the past 3 years you are considered a first-time homebuyer and can purchase a home in any of the listed New Hampshire towns.

Because you have owned a home within the past 3 years you are not considered a first-time homebuyer. However, you may still be eligible for the Homebuyer Tax Credit if you are purchaing a home in one of the targeted area towns listed.

In what New Hampshire town are you purchasing a home?

Think you're eligible? Take the next step.

Contact a participating lender to reserve your homebuyer tax credit with New Hampshire Housing.

Find a participating lender

Already working with a participating NH Housing lender?

Simply share your eligibility results with your participating lender to see if you qualify and learn about the next steps.

Have a lender, but not a participating lender?

If your current lender is unfamiliar with the advantages of the Homebuyer Tax Credit, please have them contact us by mcc program email or by phone at 1-800-649-0470 today to reserve your Homebuyer Tax Credit.

For eligibility requirements see FAQs below

Already know you're eligible?

If you’re already working with a New Hampshire Housing lender and know you’re eligible take the next step.

Complete the Homebuyer Tax Credit Online Course

Once completed, provide your participating lender a copy of your certificate of completion and ask them to reserve your Homebuyer Tax Credit with New Hampshire Housing. It is important to follow up with your lender to make sure that they did this for you. In order to receive the homebuyer tax credit, it must be reserved with us before you close on your new home.

Don’t take our word for it

Hear from people who are already saving up to $2,000 a year on their mortgage.

FAQs

How can I apply for the Homebuyer Tax Credit?
To apply for a Homebuyer Tax Credit, contact a Participating MCC Lender or have your lender contact us. 

How does the Homebuyer Tax Credit work?
The Homebuyer Tax Credit is a direct dollar-for-dollar reduction in your federal taxes worth 10% to 50% of the interest you pay on your mortgage.

Mortgage Amount x Loan Interest Rate = Annual Mortgage Interest paid

Annual Mortgage Interest Paid x Homebuyer Tax Credit Rate = Annual Tax Credit

Check out your potential Monthly Savings over the first year using our Homebuyer Tax Credit Calculator.

How do I qualify for the Homebuyer Tax Credit?
To qualify for the Homebuyer Tax Credit you must:

  • Reserve your HBTC before you close on your new mortgage.
  • Complete the online HTBC training before you close on your new mortgage.
  • Be a first-time homebuyer (have not owned a home in three years) or are purchasing a home in a "targeted area."
  • Be qualified for a new mortgage. MCCs cannot be used with existing loans.
  • Intend to occupy the home as your principal residence.
  • Be purchasing a house that is a single family residence and that meets certain purchase price limits.
  • Meet certain income limits.
  • Have a tax liability to use the credit.

Can you save more than $2,000?
No, your annual tax credit savings cannot exceed $2,000. You also must have a tax liability to use the credit.

Are there fees associated?
Yes, view the Homebuyer Tax Credit fees

If you are combining your Homebuyer Tax Credit with a New Hampshire Housing mortgage product, the fee may be reduced.

To find out more
To find out more about the Home Start Homebuyer Tax Credit Program, check out our Program Brochure and Fact Sheet.  

Have Questions? Call 1-800-649-0470 or Send us a message

Please note that in order to receive the Homebuyer Tax Credit you must reserve your MCC with us prior to your loan closing. It is your responsibility to make sure your lender properly requests and executes the MCC documents. New Hampshire Housing and your lender cannot predict what Congress or the IRS might do. Therefore, New Hampshire Housing and your lender make no promise about whether the MCC Program will actually be available to provide you with an MCC and its benefits. Therefore, New Hampshire Housing and your lender have no liability whatsoever for any action taken by Congress or the IRS.