Home Mortgage Interest Credit Act of 2026 allows a tax credit for interest on mortgages for a taxpayer's principal residence.

The Home Mortgage Interest Credit Act of 2026 amends the Internal Revenue Code to introduce a tax credit for qualified residence interest paid or accrued during the taxable year. This credit applies to the principal residence of the taxpayer, defined as the taxpayer's main home. The credit is subject to a dollar limitation, with a maximum of $2,000 per year for most taxpayers, and $1,000 for married individuals filing separately. The credit is also subject to a reduction based on the taxpayer's modified adjusted gross income. The credit is not available to nonresident aliens.

Home Mortgage Interest Credit Act of 2026 allows a tax credit for interest on mortgages for a taxpayer's principal residence.

The Home Mortgage Interest Credit Act of 2026 amends the Internal Revenue Code to introduce a tax credit for qualified residence interest paid or accrued during the taxable year. This credit applies to the principal residence of the taxpayer, defined as the taxpayer's main home. The credit is subject to a dollar limitation, with a maximum of $2,000 per year for most taxpayers, and $1,000 for married individuals filing separately. The credit is also subject to a reduction based on the taxpayer's modified adjusted gross income. The credit is not available to nonresident aliens.