Benefit Summary:

The Home at Last™ Mortgage Tax Credit (MTC) provides a federal income tax credit equal to either 30% or 20% of the interest paid on a mortgage (the 30% rate has a maximum $2,000 credit per year / the 20% rate has no limit per year).  The tax credit is good every year for the life of the loan.


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  • Home at Last™ Mortgage Tax Credit (MTC) Program - NRHA

Home at Last™ MTC Program

The Nevada Rural Housing Authority's Home at Last™ Mortgage Tax Credit (MTC) program offers qualified first-time buyers a federal income tax credit equal to 30% or 20% of the interest paid on their mortgage loan.  It provides the credit on mortgage interest every year the buyer lives in the home for the life of the loan, plus the homeowner can still claim the remaining interest as a tax deduction.

Program at-a-glance:

  • Federal income tax credit equal to either 30% or 20% of the interest paid on the mortgage loan (30% rate has a maximum $2,000 tax credit per year / 20% rate has no limit on the tax credit per year)
  • Savings estimated at $2,000 a year ($166 a month) per household
  • Savings continue each year based on actual interest paid on the home
  • No asset limits for homebuyers

Savings Example:

Loan amount: $150,000

Interest rate: 4.5%

Approximate annual interest: $6,700

Tax credit: 30% of mortgage interest

Savings first year: $2,000 (Maximum $2,000 per year)

Savings over 10 years: $18,391

Total savings over life of loan: $37,073

Who qualifies:

  • First-time homebuyers (have not owned a home in the past three years) or qualified veterans who will live in home as primary residence
  • Households meeting income qualifications and normal FHA, VA, Conventional or USDA underwriting requirements 
  • Home purchase falls below maximum price 
  • Buyer must complete homebuyer education (choose online or in person from buttons on the right) 

The Nevada Rural Housing Authority and Nevada Housing Division have partnered together to provide the MTC benefit statewide.  Any first-time homebuyer, or qualified veteran, who meets the qualifications will be able to participate in the program, regardless of what city they are purchasing their home in. 

New! Reduced Fees and Rebate Program for Homebuyers:

Nevada Rural Housing Authority has reduced the Mortgage Tax Credit (MTC) fee to a flat fee of $995.  And, if you pair the MTC with a Home at Last Down Payment Assistance Grant you will receive a $500 rebate after closing! 

Veteran Benefit:

Nevada Rural Housing Authority is proud and excited to announce that there are NO FEES CHARGED TO VETERANS participating in the Home at Last Mortgage Tax Credit (MTC) program.  The MTC fee is waived for all active duty first-time homebuyers and National Guard service personnel, and those honorably discharged from the military.  To qualify, the borrower must meet one of the following:

  • Veteran who has been honorably discharged;
  • First-time homebuyer serving on Active Duty; or
  • National Guard service personnel

Notice of recapture tax:

Buyers using the Home at Last™ MTC program are typically subject to a recapture tax if they sell their home within nine years of purchase. However, NRHA offers a reimbursement program for homeowners which removes any risk of having to pay the racapture tax. Click to learn more.

Getting started:

If you think you qualify for the Home at Last™ Mortgage Tax Credit, contact an approved lender to apply.  Use the MTC Savings Calculator on the right to see how much money you can save by using the Home at Last™ Mortgage Tax Credit program! 

You may also qualify for the Down Payment Assistance Grant of up to 5% of the purchase price - ask your lender about bundling opportunities with Home At Last™ Access.