Well, the old becomes new again!!! The MCC program has been rolled out one more time with a few new twists!
For first time buyers or anyone who has not owned a home in 3 years, here is the deal
1. A 20% tax credit on the mortgage interest you pay as long as you own the home.
2. A 25% tax credit on the mortgage interest you pay if you buy in a target area.
3. A 30 % tax credit on the mortgage interest if you buy a bank owned property.
So if you use this, you'll get a $8,000 federal tax credit year one and an additional tax credit from 20-30% each year as long as you own the home. Is this a GREAT opportunity or what????
Go to www.ohiohome.org for details on this plan and www.federalhousingtaxcredit.com for the US tax credit!
Comments(0)