NH Home Buyer Tax Credit
First time home buyers who is purchasing property for $265,000 or less. Don’t miss this potential NH Home Buyer tax credit.
The Home Start Homebuyer Tax Credit 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 credit for the life of the original mortgage, as long as you live in the home.
Here is a quick video that covers general information about the Homebuyer Tax Credit Program (HBTC), including income and purchase price limits and program fees.
To apply for the HBTC tax credit follow these steps:
- Watch the video and read the information.
- Take the required online HBTC course (click on the image of the keys and calculator). You need to register for the class as part of the HBTC application process you need to the certificate of completion that is generated at the end of this course.
- Once you find a property and have a signed a Purchase and Sales agreement, to receive a HBTC, you must reserve the HBTC funds with New Hampshire Housing before you close on your new home.
To reserve your tax credit:
- If you are currently working with a New Hampshire Housing Participating Lender, please provide them with a copy of your certificate of completion of the HBTC course. The ask your Participating Lender to reserve your Homebuyer Tax Credit with New Hampshire Housing. Your lender should know how to do this. If they do not, please have them contact New Hampshire Housing.
- If you are not working with a New Hampshire Housing lender, or if your current lender is unfamiliar with the advantages of the Homebuyer tax Credit, please have them contact New Hampshire Housing by phone at 1-800-649-0470, before your new loan closes, to reserve your Homebuyer Tax Credit.
- You must reserve the credit before you close.
- You must complete the HBTC course before you close.
- All required HBTC documents must be received by New Hampshire Housing no later than 14 days after your closing. Failure to not send in the required document to New Hampshire Housing may jeopardize your ability to receive the HBTC.
A checklist, including all required documents, can also be found here: Homebuyer Tax Credit Quick Prints.
You can download the brochure here.