State First-Time Homebuyer Tax Credit | How It Works

Understanding the First-Time Homebuyer Tax Credit

The first-time homebuyer tax credit was a program that was available for homes purchased as your primary residence between April 2008 and May 2010. Under that federal program, first-time home buyers received a tax credit equal to 10 percent of the purchase price of their home, up to a maximum of $8,000.

That federal program was allowed to expire, so there is no federal first-time homebuyer tax credit available as of 2014. Fortunately, there are state-based first-time homebuyer programs that can help fill that void.
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Who Qualifies as a First-Time Homebuyer?

These programs and tax credits vary from one location to another, but the definition of a first-time homebuyer is the same everywhere:

• If you have never owned a home, or haven’t owned a home in the last three years, you qualify as a first-time homebuyer.

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Statewide First-Time Homebuyer Programs Across the U.S.

The programs listed below are statewide options for all 50 states. These are subject to change, and additional programs may be available at the state, county, and city levels. To ensure the legitimacy of the programs you research, use the HUD web portal to verify state information.

• Alabama: The Alabama Housing Finance Authority offers a Mortgage Credit Certificate for first-time home buyers.
• Alaska: The Alaska Housing Finance Corporation offers a Tax-Exempt First-Time Homebuyer Program.
• Arizona: The Arizona Department of Housing
• Arkansas: The Arkansas Development Finance Authority manages the HomeToOwn Program for first-time homebuyers.
• California: The California Housing Finance Agency offers assistance. Credit.org has First-Time Homebuyer Education for Southern California residents.
• Colorado: The Colorado Housing and Finance Authority offers Mortgage Credit Certificates for first-time homebuyers.
• Connecticut: The Connecticut Housing Finance Authority offers various programs for first-timers.
• Delaware: Delaware has a First-Time Homebuyer Tax Credit administered by the Delaware State Housing Authority.
• Florida: The Florida Housing Finance Corporation hosts a First-Time Homebuyer Wizard to direct you to local programs.
• Georgia: The Georgia Dream Homeownership Program
• Hawaii: The Hawaii Housing Finance and Development Corporation
• Idaho: The Idaho Housing and Finance Association offers the “Finally Home®” program
• Illinois: The Illinois Housing Development Authority manages Welcome Home Illinois.
• Indiana: The Indiana Housing Community Development Authority offers various programs.
• Iowa: The Iowa Finance Authority administers the FirstHome Program.
• Kansas: The Kansas Housing Resources Corporation offers homebuyer assistance.
• Kentucky: The Kentucky Housing Corporation administers a Homebuyer Tax Credit.
• Louisiana: The Louisiana Housing Corporation is the place to start. The Louisiana Recovery Authority also offers some programs.
• Maine: The Maine State Housing Authority runs the First Home Program.
• Maryland: The Maryland Mortgage Program through the Maryland Department of Housing and Community Development helps eligible home buyers.
• Massachusetts: The Massachusetts Executive Office of Housing and Economic Development administers First-Time Homebuyer programs for the state.
• Michigan: The Michigan State Housing Development Authority offers several programs.
• Minnesota: The Minnesota Housing Finance Agency offers various programs.
• Mississippi: The Mississippi Home Corporation offers the Housing Tax Credit Program.
• Missouri: The Missouri Housing Development Commission administers First Place Loans.
• Montana: The Montana Board of Housing offers various programs.
• Nebraska: The Nebraska Investment Finance Authority offers First Home options.
• Nevada: The Nevada Housing Division administers First-Time Homebuyer Programs.
• New Hampshire: The New Hampshire Housing Finance Authority offers a Homebuyer Tax Credit Program.
• New Jersey: The New Jersey Housing and Mortgage Finance Agency has special offers for First-Time Home buyers.
• New Mexico: The New Mexico Mortgage Finance Authority offers special first mortgage programs.
• New York: The state of New York Mortgage Agency offers Special programs for first-time home buyers.
• North Carolina: The North Carolina Housing Finance Agency offers a mortgage credit certificate.
• North Dakota: The North Dakota Housing Finance Agency offers various programs.
• Ohio: The Ohio Housing Finance Agency offers first-time homebuyer programs.
• Oklahoma: The Oklahoma Housing Finance Agency offers several homebuyer programs.
• Oregon: Oregon Housing and Community Services offers resources.
• Pennsylvania: The Pennsylvania Housing Finance Agency
• Rhode Island: Rhode Island Housing offers First Home and other options.
• South Carolina: The South Carolina State Housing Finance and Development Authority has a Mortgage Tax Credit Program.
• South Dakota: The South Dakota Housing Development Authority offers a Mortgage Credit Certificate.
• Tennessee: The Tennessee Housing Development Agency administers the Great Choice Mortgage Loan Program.
• Texas: The Texas Mortgage Credit Certificate Program comes from the Texas Department of Housing and Community Affairs.
• Utah: The Utah Housing Corporation offers a home-buyer programs.
• Vermont: The Vermont Housing Finance Agency offers a Tax Credit Program Overview.
• Virginia: The Virginia Housing Development Authority offers special homebuyer programs .
• Washington: The Washington Housing Finance Commission offers a Mortgage Credit Certificate.
• West Virginia: The West Virginia Housing Development Fund provides the state’s Homeownership Program.
• Wisconsin: The Wisconsin Housing and Economic Development Authority offers Homebuying resources.
• Wyoming: The Wyoming Community Development Authority offers a first-time homebuyer program.

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Get Help With Your Home buying Journey

No matter where you live, you can always call us for confidential, one-on-one housing counseling. We can help you figure out what programs you are eligible for and make sure you complete the application process correctly. We have HUD-approved housing counselors standing by.

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Need Help With Credit or Debt?

If you need help with credit or debt, or want to learn more about budgeting or personal finance, get started with free, confidential counseling and education right here at Credit.org.