Delaware First-Time Homebuyer Tax Credit (MCC)
Funding status: Active
How much assistance
Up to $2,000 per year in federal tax credits (35% of mortgage interest paid) (Tax Credit)
Can be claimed each year the borrower holds the mortgage. Provides approximately $167 per month in additional disposable income.
Eligibility
- Income limits: Must meet DSHA income limits.
- First-time buyer required: Yes — Must not have owned a home in the past 3 years.
- Credit score minimum: 620
- Geographic restrictions: Must purchase within the State of Delaware.
- Homebuyer education required: No
How to Apply for Delaware First-Time Homebuyer Tax Credit (MCC)
Step 1: Must enroll through a DSHA-approved lender during the mortgage process. Cannot enroll after closing. Can be used with any DSHA first mortgage or other qualifying mortgage programs.
Notes
Mortgage Credit Certificate (MCC). Can be combined with DSHA first mortgage programs and DPA. Must apply before closing.