OHFA Mortgage Tax Credit

About This Program

Federal tax credit equal to 40% of annual mortgage interest (up to $2,000) for OHFA loan holders, or 15-20% for non-OHFA loans. First-time homebuyers can claim this credit every year for the life of the mortgage.

On $150K mortgage at 6.5%: ~$2,000/year credit with OHFA loan

Key Details

• Tax credit of 40% of mortgage interest with OHFA loan
• Maximum $2,000 annual federal tax credit
• 15-20% credit available with non-OHFA mortgages
• Claimed annually for life of the mortgage
• First-time homebuyers only

How to Apply

Deadline: Ongoing — apply through OHFA-approved lender