City of Fernley – Home Tax Credits Programs
City of Fernley offers federal income tax credits for the entire duration of your home ownership with the Mortgage Credit Certificate Program. Realize up to a 30% credit on income taxes every year you own the home purchased with this program – offered through the State of Nevada.
Benefits – City of Fernley Mortgage Credit Certificate (MCC)
- Available to City of Fernley residents and residents in the entire State of Nevada.
- Annual rebates up to $2,000 with a Federal Income Tax credit of up to 30% of the interest you have paid on your mortgage loan. The tax credit you receive will vary per year based on the amount of interest paid.
- Claim a standard tax deduction on any remaining interest.
- You are able to combine your Mortgage Credit Certificate (MCC) with the City of Fernley HIP to receive a $400 discount.
- MCC Program has a flat fee of $795 along with a lender application fee of $300.
- Fernley veteran’s can waive the MCC fee with an exception of paying the lender application fee.
Requirements – City of Fernley Mortgage Credit Certificate (MCC)
- You are a first-time home buyer or have not owned a home within the last 3 years.
- Your household meets the income and home purchase limits for the area of the home you desire to buy within Nevada.
- Maximum purchase price – $248,098
- Maximum income limit for households with 2 or fewer persons – $62,900
- Maximum income limit for households with 3 or more persons – $72,335
- You are a qualified veteran and will live in the home as your primary residence.
- Your household meets the requirements for Conventional, USDA RD (United Stated Department of Agriculture – Rural Development), FHA (Federal Housing Administration) or VA (Veterans Administration) loans.
Get Started! Complete the form below to see if you qualify for this program.
City of Fernley Home Buyer Programs