Credit/finance

Get a Tax Credit for the First-Time Homebuyer

Lashonda September 1, 2022 0 Comments

A first-time home buyer tax credit program was available to homes purchased as your primary residence between April 2008 & May 2010. The federal program provided a tax credit for first-time home buyers equal to 10% of the home’s purchase price, up to $8,000.

The federal program was allowed to expire, so the first-time home buyer tax credit is unavailable. However, state-based programs for first-time home buyers can fill this void.

Although these programs and tax credits may vary depending on where you live, the definition of a “first-time home buyer” is the same. You are eligible if you have not owned a house in 3 years or you don’t own one in the past three years.

These are the statewide programs that apply to all 50 states. These programs are subject to change and may include additional county, city, or state programs. The HUD portal allows you to search for state information. This is a great way of ensuring that the programs you are researching are legal.

Alabama: The Alabama Housing Finance Authority provides a Mortgage credit certificate to first-time homebuyers.
Alaska: The Alaska Housing Finance Corporation offers the Tax-Exempt First Time Home Buyer Program.
Arizona: The Arizona Department of Housing
Arkansas: The Arkansas Development Finance Authority manages HomeToOwn for first-time home buyers.
California: The California Housing Finance Agency assists. Credit.org offers First-Time Buyer Education to residents of Southern California.
Colorado: The Colorado Housing and Finance Authority provides Mortgage Credit Certificates to 1st-time homebuyers.
Connecticut: The Connecticut Housing Finance Authority provides different programs to first-timers.
Delaware: Delaware’s First-Time Homebuyer Tax Credit is administered by the Delaware State Housing Authority.
Florida: Florida Housing Finance Corporation has a First-Time Home Buyer Wizard that will direct you to the appropriate programs.
Georgia: The Georgia Dream Homeownership Program
Hawaii: The Hawaii Housing Finance and Development Corporation
Idaho: The Idaho Housing and Finance Association provides the Finally Home(r) program
Illinois: The Illinois Housing Development Authority manages Welcome Home Illinois.
Indiana: The Indiana Housing Community Development Authority provides a variety of programs.
Iowa: The Iowa Finance Authority manages the FirstHome program.
Kansas: The Kansas Housing Resources Corporation assists home buyers.
Kentucky: Kentucky Housing Corporation administers the Home Buyers Tax Credit.
Louisiana: The Louisiana Housing Corporation can be your first stop. The Louisiana Recovery Authority also offers some programs.
Maine: The Maine State Housing Authority manages the First Home Program.
Maryland: The Maryland Mortgage Program is offered by the Maryland Department of Housing and Community Development to help eligible home buyers.
Massachusetts: The Massachusetts Executive Office of Housing and Economic Development manages First-Time Home Buyer programs in the state.
Michigan: The Michigan State Housing Development Authority has several programs.
Minnesota: The Minnesota Housing Finance Agency has a variety of programs.
Mississippi: The Mississippi Home Corporation provides the Housing Credit Program.
Missouri: The Missouri Housing Development Commission administers First Place Loans.
Montana: The Montana Board of Housing has a variety of programs.
Nebraska: The Nebraska Investment Finance Authority provides First Homes options.
Nevada: The Nevada Housing Division manages First Time Home Buyer Programs.
New Hampshire: The New Hampshire Housing Finance Authority provides a Home Buyer Credit Program.
New Jersey: The New Jersey Housing and Mortgage Finance Agency offer special deals for first-time home buyers.
New Mexico: The New Mexico Mortgage Finance Authority provides special first mortgage programs.
New York: The State of New York Mortgage Agency offers special programs to first-time homebuyers.
North Carolina: The North Carolina Housing Finance Agency provides a mortgage credit card.
North Dakota: The North Dakota Housing Finance Agency provides various programs.
Ohio: The Ohio Housing Finance Agency provides First-Time Home Buyer Programs.
Oklahoma: Oklahoma Housing Finance Agency has several home buyer programs.
Oregon: Oregon Housing and Community Services resources.
Pennsylvania: The Pennsylvania Housing Finance Agency
Rhode Island: Rhode Island Housing offers FirstHome and other options.
South Carolina: The South Carolina State Housing Finance and Development Authority offers a Mortgage Credit Program.
South Dakota: The South Dakota Housing Development Authority provides a Mortgage Credit Certificate.
Tennessee: The Tennessee Housing Development Agency manages the Great Choice Mortgage Loan Programme.
Texas: The Texas Mortgage Credit Certificate Program is provided by the Texas Department of Housing and Community Affairs.
Utah: The Utah Housing Corporation provides home buyer programs.
Vermont: The Vermont Housing Finance Agency provides a Tax Credit program Overview.
Virginia: The Virginia Housing Development Authority provides special home buyer programmes.
Washington: The Washington Housing Finance Commission provides a Mortgage Credit Certificate.
West Virginia: The West Virginia Housing Development Fund is the state’s Homeownership Program.
Wisconsin: The Wisconsin Housing and Economic Development Authority provide Home Buying Resources.
Wyoming: The Wyoming Community Development Authority provides a First-Time Home Buyer Program.

You can call us confidentially for one-on-one counselling on housing, regardless of where you live. We will help you determine which programs are available to you and ensure that you apply correctly. Our HUD-approved housing counsellors are available.