MCC Tax Credit. For Home Buyers in Riverside, San Diego, Sacramento California
Many counties in California have Mortgage Credit Certificate (MCC) programs which allow the borrower to have a more comfortable payment by getting a credit for a certain percentage of the actual taxes on the home.
This can help a borrower qualify just enough higher to buy in the stabilized markets in our area, Temecula, Murrieta, etc., and especially in new home communities where the builder is set on pricing. I had one builder agent ask me if I do these so she can know where to send people who are on the cusp of qualifying. That being said, I would recommend that buyers be very careful about feeling that the mortgage payment - all of it, Principal, Interest, Taxes, Insurance, HOA, etc. - is comfortable for them.
In Riverside county, CA, it is 15%, and in Sacramento county, it is 20%. San Diego has this program as well, at 20%. For more information call direct 951-704-4559, or email me, Lisa@DelzompoHomes.com.
If you are familiar with the MCC(Mortgage Credit Certificate) tax credit, great news. It is an amazing tax credit. If you are not familiar with it:
- The MCC tax credit allows you to save up to $2000 a year off your income taxes. This is a refund of up to $2000 off their income taxes every year
- it is available for any home in the Houston area, Harris County, Fort Bend County or any where in Texas.
- There is a 1%(of the loan amount) fee and other fees to the TDHCA for this program. The savings way out weight the cost!
- I do not charge anything to get you approved for it. It is a FREE service to my clients.
- there are income limits
- they must be a first time buyer or have not owned a home in the last 3yrs.
Everyone knows about the $8k tax credit. But, with the MCC tax credit you can save up to $10k in 2010 off their taxes. And up to $2000 every year after. Call me today about this Great Tax Credit Program!!!!!
"Helping You Thru the Whole Process"
Comments(2)