Money Watch Q & A: Mortgage Credit Certificate - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Money Watch Q & A: Mortgage Credit Certificate

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The Nevada Housing Division (NHD) and Nevada Rural Housing Authority (NRHA) are partnering to expand the Home at Last Mortgage Credit Certificate program to the urban areas of Nevada, including Reno. With the MCC program, an average home buyer receives a $2,000 tax credit at the end of the year when the buyer files their taxes, and can be taken every year the borrower lives in the home, for the life of the loan. Housing experts tell us that is an average savings of more than $40,000 in mortgage interest over the life of the loan. Until now, this program has been limited to Nevada cities with populations fewer than 150,000 people, but beginning in June of this year, hundreds more potential homeowners will qualify to receive the incentive.

To be eligible for the program, you must be a first time home buyer, meaning you cannot have owned a home in the past three years, and must be purchasing the home as your primary residence. Households must meet income and purchase price qualifications.

To find out if you qualify, call our Money Watch Q&A lines between 5 – 6 p.m. to speak with the Mortgage and Marketing Specialist for the Nevada Rural Housing Authority. Nicole Larrimore will be taking your calls and can answer any question you may have about this expanding program. Call (775) 858-2222. You can also reach her during regular business hours at (775) 887-1796 or by emailing Nicole@nvrural.org.

Nevadans can learn more about the MCC program, and get a list of approved lenders, by visiting www.nvrural.org/mcc and emailing HALinfo@nvrural.org or by contacting the Nevada Housing Division at (775) 684-2040.

Written by Kristen Remington

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