Am I eligible for a mortgage tax credit?

If you are purchasing in NH an you are a first time buyer (haven't owned in the past 3 years) or are buying in a targeted area (those in bold font below) and you meet the income requirements, you may qualify for up to $2000/year for the next four years (up to $8000) in tax credits.   Ask your lender about this.  The MCC (mortgage credit certificate) program is the best kept secret.   If you have not been informed about this, then ask!  

Home Start Homebuyer Tax Credit

INCOME LIMITS

Belknap County
Laconia $96,600 income for a 1-2 person household;  $112,700 for 3+ person household
All other communities $80,500 for a 1-2 person household  $ 92,500 for 3+ person household

Carroll County
All Communities $80,500income for a 1-2 person household; $ 92,500 for 3+ person household

Cheshire
All Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ person household

Coos
Berlin, Lancaster, Whitefield $96,600 income for a 1-2 person household; $112,700 for 3+ persons
All other Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ persons

Grafton
Littleton $96,600 income for a 1-2 person household; $112,700 for 3+ person household
All other Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ persons

Hillsborough
Goffstown, Manchester $96,600 income for a 1-2 person household; $112,700 for 3+ persons
All other Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ persons

Merrimack
Concord, Pittsfield $96,600 income for a 1-2 person household; $112,700 for 3+ person household
All other Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ persons

Rockingham
Newmarket, Portsmouth $96,600 income for a 1-2 person household; $112,700 for 3+ persons
All other Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ persons

Strafford
Dover, Rochester, Somersworth $96,600 income for a 1-2 persons; $112,700 for 3+ persons
All other Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ persons

Sullivan
Claremont $96,600 $112,700 income for a 1-2 person household; for 3+ person household
All other Communities $80,500 income for a 1-2 person household; $ 92,500 for 3+ persons

PLEASE NOTE:
Targeted Communities are in bold: first-time home buyer requirement does not apply.

For more info on this and other mortgage types visit: www.NHmortgages.com

Author: Renee Duval – A Certified Mortgage Professional (CMP) with the NH Mortgage Bankers & Brokers Association.  NMLS# 97937.  Merrimack Mortgage Company is an Equal Housing Lender, Licensed by Massachusetts and the NH Banking Department . Mass Lender MC2561-119