NH Housing Home Start Homebuyer Tax Credit (MCC)
Funding status: Active
How much assistance
Up to $2,000 per year in federal tax credits (Grant)
Tax credit continues for the life of the original mortgage. Provides a direct dollar-for-dollar reduction in federal income taxes equal to 10-50% of mortgage interest paid annually.
Eligibility
- Income limits: Must meet income and purchase price limits (varies by municipality)
- First-time buyer required: Yes — Must not have had an ownership interest in a principal residence at any time in the previous 3 years, unless purchasing in a targeted area.
- Geographic restrictions: Must purchase a single-unit home in New Hampshire as primary residence.
- Homebuyer education required: Yes
How to Apply for NH Housing Home Start Homebuyer Tax Credit (MCC)
Step 1: Reserve the credit through a New Hampshire Housing Approved Lender before purchasing the home. Complete homebuyer education and provide certificate of completion to lender before closing.
Notes
Mortgage Credit Certificate (MCC). Cannot be used with refinance loans. Must have a new fully amortizing fixed-rate mortgage. Must have sufficient tax liability to use the credit.