To claim your mortgage tax credit (MTC), please review IRS Publication 530 or contact a tax professional.
If you need information about your MTC to complete your income tax return, download the Request for Copy of MTC. Complete the form and fax it to 614.995.0487. You may also mail the form to:
The Ohio Housing Finance Agency
Attention: Office of Homeownership
57 East Main Street
Columbus, Ohio 43215
We will process your request within seven business days of receiving your form.
If you currently hold an MTC and decide to refinance your home, OHFA will need to reissue your MTC .The new certificate must be reissued within one year of refinancing the residence.
In order for OHFA to reissue the MTC, you will need to supply the Agency with the following documents:
In accordance with regulations in IRS Publication 530, the above requirements for a reissued MTC will:
OHFA is pleased to announce that recapture tax is no longer an obstacle for participants utilizing our homeownership programs and products.
Recapture tax is a federal tax a homebuyer may have to pay if he or she sells the home within the first nine years of the purchase date, receives a net profit on the sale of the home and exceeds the maximum income limits at the time of sale. All three provisions must occur at the time of sale for any potential recapture tax obligation to apply.
The Internal Revenue Service (IRS) requires recapture tax, because OHFA mortgages are sometimes funded through the sale of tax-free mortgage revenue bonds. Recapture tax also applies to homebuyers using OHFA mortgage tax credits. This provision ensures compliance with OHFA's stated purpose of helping low- and moderate- income homebuyers.
Effective March 1, 2006, OHFA will reimburse homebuyers for the actual amount of recapture tax paid to the IRS on loans closed on or after the effective date. In the past, the term "recapture tax" caused potential homebuyers to think twice about buying their home. However, through extensive research, OHFA has found that very few people have ever had to pay the penalty for selling their homes early.
To complete the reimbursement process, complete the Request for Recapture Tax Reimbursement form and fax it to 614.995.0487 or mail it to:
Ohio Housing Finance Agency
Attention: Office of Homeownership
57 East Main Street
Columbus, Ohio 43215
The Ohio Housing Finance Agency | 57 East Main Street | Columbus, Ohio 43215
Toll Free 888.362.6432 | Phone 614.466.7970 | Fax 614.644.5393 | TDD 800.750.0750
John Kasich, Governor, State of OhioLegal Statement and Policies