First-Time Homebuyer Tax Credit

First-Time Homebuyer Tax Credit This Delaware down payment program is for first time home buyers. Commonly known in other states as mortgage credit certificates, DelawareÂ’s first time home buyer tax credit is a federal income tax credit that allows Delaware borrowers to claim up to 35 percent of the annual interest paid on their mortgage. As per federal standards, the annual amount of the credit cannot exceed $2,000 per year. This tax credit can be used in conjunction with Delaware down payment and closing cost assistance programs.