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Come Home at Last™
Do you want to become a homeowner, but don’t think you can qualify for a loan? The Nevada Rural Housing Authority is here to help with Home at Last™ home financing programs. Our newest Home at Last™ program is a mortgage credit certificate (MCC) program.
Home at Last™ MCC provides a dollar-for-dollar federal income tax credit equal to 20% or 30% of the interest paid on a mortgage loan. The tax credit is given to the homebuyer every year as long as they live in the home. Loans of $190,000 or less will receive a 30% credit and loans of more than $190,000 will receive a 20% credit.
What does Home at Last™ MCC offer:
• Federal income tax credit equal to 20% or 30% of the interest paid on a mortgage loan
• Annual savings estimated at $2,000 a year per household
• Savings continue each year based on actual interest paid on the home
• No asset limits for homebuyers
Savings Example:
Home A
Loan Amount: $120,000
Interest rate: 5.5%
Approximate annual interest: $6,600
Tax credit: 30% of mortgage interest
Savings: Approximately $165 a month or $1,980 a year
Home B
Loan Amount: $200,000
Interest rate: 5.5%
Approximate annual interest: $11,000
Tax credit: 20% of mortgage interest
Savings: Approximately $183 a month or $2,200 a year
Who qualifies:
• First-time homebuyers or qualified veterans who will live in home as primary residence
• Households meeting income qualifications and normal FHA, VA, Conventional or RHS underwriting requirements
• Home purchase is in rural Nevada (population fewer than 100,000) and falls below maximum price
Maximum home cost (family residence):
| County | Cost |
| Carson City | $348,422 |
| Clark | $349,515 |
| Douglas | $409,587 |
| Elko, Eureka & Nye | $283,981 |
| Lyon | $289,442 |
| Storey & Washoe | $352,791 |
| All other | $258,691 |
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Maximum income limits
| County | Income |
| Carson City |
| 2 or fewer persons | $77,160 |
| 3 or more persons | $90,020 |
| Clark |
| 2 or fewer persons | $78,480 |
| 3 or more persons | $91,560 |
| Douglas |
| 2 or fewer persons | $88,560 |
| 3 or more persons | $103,320 |
| Elko |
| 2 or fewer persons | $69,700 |
| 3 or more persons | $80,155 |
| Eureka |
| 2 or fewer persons | $70,269 |
| 3 or more persons | $80,810 |
| Humboldt |
| 2 or fewer persons | $67,600 |
| 3 or more persons | $77,740 |
| Lander |
|
| 2 or fewer persons | $66,800 |
| 3 or fewer persons | $76,820 |
| Lyon |
|
| 2 or fewer persons | $71,907 |
| 3 or fewer persons | $82,693 |
| Nye |
|
| 2 or fewer persons | $76,309 |
| 3 or fewer persons | $80,856 |
| Storey & Washoe |
| 2 or fewer persons | $84,480 |
| 3 or more persons | $98,560 |
| All other areas |
| 2 or fewer persons | $65,900 |
| 3 or more persons | $75,785 |
Where can I live?
In Nevada, there are many cities and regions that qualify as ‘rural’ under NRHA guidelines. Home at Last™ grant recipients can live in any city or town with a population of less than 100,000, such as Carson City, Dayton, Mesquite, Pahrump, or Sparks, to name a few.
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