Homebuyer Tax Credit Program
The Home Start Homebuyer Tax Credit Program makes homeownership more affordable for first-time homebuyers. To qualify, eligible homebuyers must receive a Mortgage Credit Certificate (MCC) from New Hampshire Housing. The Homebuyer Tax Credit 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 $2000 each year for the life of the original mortgage, as long as you live in the home.
Please be aware, that in order to receive the Homebuyer Tax Credit you must complete the online HBTC training and reserve your HBTC with us before your loan closes.
In additional, for New Hampshire Housing to issue you an MCC, New Hampshire Housing must receive a complete MCC application package within 14 days after the mortgage loan closing date.
It is your responsibility to ensure New Hampshire Housing receives your complete MCC application package within 14 days after your mortgage loan closing.
To qualify for the Homebuyer Tax Credit you must:
- 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.
- Complete the online Home Start Homebuyer Tax Credit training.
Homebuyer Tax Credit Quick Prints (Check list and affidavits all in one):
- Homebuyer Tax Credit Reservation Form
- Application package with New Hampshire Housing mortgages
- Application package without New Hampshire Housing mortgages
- Application package for re-issuing an MCC
To apply for the Homebuyer Tax Credit, contact one of the Participating MCC Lenders listed below. You must work with a Participating MCC Lender or New Hampshire Housing to receive the Homebuyer Tax Credit.
|Bank of New Hampshire||1-603-524-1212|
|Cross Country Mortgage||1-877-351-3400|
|Embrace Home Loans||1-800-620-6292|
|Envoy Mortgage, LTD||1-603-617-4838|
|Fairway Independent Mortgage||1-866-912-4800|
|Federal Savings Bank||1-800-462-2265|
|Meredith Village Savings Bank||1-800-922-6872|
|Merrimack County Savings Bank||1-603-225-2793|
|Merrimack Mortgage Company, LLC||1-800-877-8686|
|Milestone Home Loans||1-603-842-5090|
|Mortgage Financial Inc||1-800-659-4663|
|Mortgage Master/Loan Depot||1-603-570-4897|
|Mortgage Network, Inc.||1-800-334-4648|
|New Hampshire Community Loan Fund, Inc.||1-800-432-4110|
|New Hampshire Housing||1-800-640-7239|
|Northeast Home Loans||1-877-757-7815|
|Primary Residential Mortgage, Inc||1-800-255-2792|
|Residential Mortgage Services||1-603-653-7853|
|Salem Five Mortgage Co., Inc||1-800-445-8600|
|Savings Bank of Walpole||1-603-352-1822|
|St. Mary's Bank||1-888-786-2791|
|Sugar River Bank||1-800-562-3145|
|Woodsville Guaranty Savings Bank||1-800-564-2735|