Income Tax Credits – Nevada Home Buying
The Mortgage Credit Certificate (MCC) Program provides federal income tax credits for the duration of your home ownership. Realize up to a 30% credit on your income taxes each year you own the home purchased with this program offered through the State of Nevada.
Benefits – Mortgage Credit Certificate (MCC)
- Get a rebate up to $2,000 annually 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.
- Claim a standard tax deduction on any remaining interest.
- Combine your Mortgage Credit Certificate (MCC) with the Home is Possible Down Payment Assistance Program and 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 – Mortgage Credit Certificate (MCC)
- You are a first-time home buyer or have not owned a home within the past 3 years.
- You are a qualified veteran and will occupy 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.
- 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.