City of Sparks – Home Tax Credits Programs
Federal income tax credits are offered for City of Sparks for the entire duration of your home ownership with the Mortgage Credit Certificate (MCC) 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 Sparks Mortgage Credit Certificate (MCC)
- Get an annual rebate up to $2,000 with a Federal Income Tax credit of up to 30% of the interest you have paid on your mortgage loan. Your tax credit will vary per year based on the amount of interest paid.
- Available to City of Sparks residents and residents in the entire State of Nevada.
- Claim a standard tax deduction on any remaining interest.
- Combine your Mortgage Credit Certificate (MCC) with the City of Sparks HIP to receive a $400 discount.
- MCC Program has a flat fee of $795 along with a lender application fee of $300.
- Veteran’s can waive the MCC fee with an exception of paying the lender application fee.
Requirements – City of Sparks Mortgage Credit Certificate (MCC)
- You are a first-time home buyer or have not owned a home within the last 3 years.
- You are a qualified veteran and will live in the home as your primary residence.
- Your household meets the maximum income and home purchase amount for the area of the home you desire to buy within Nevada.
- Maximum purchase price – $317,646
- Maximum income limit for households with 2 or fewer persons – $73,304
- Maximum income limit for households with 3 or more persons – $84,300
- Your household meets the underwriter 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 Sparks Home Buyer Programs