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.
See if you’re eligible for the homebuyer tax credit.
Select the statement that best describes you.
If your income, based on your household size, and the price of your home doesn’t exceed the limits for this town then you may be eligible for the homebuyer tax credit.
Income and Purchase Limits
Think you're eligible? Take the next step.
Contact a participating lender to reserve your homebuyer tax credit with New Hampshire Housing.
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.
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.
- See 2019 HBTC Income and 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.
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.