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first time home buyer programs in san diego mcc: San Diego First Time Home Buyer receives $350/m credit towards their house payment
- 03/24/08 04:03 PM
Hard to believe but true. There is a program for First Time Home Buyers that gives a monthly credit towards the mortgage payment.
The San Diego County MCC program.
An MCC provides a double bonus. It increases the loan amount you qualify for and it increases your take-home pay. The MCC entitles you to take a federal income tax credit of twenty percent (20%) of the annual interest you pay on your home mortgage.
Because the MCC reduces your federal income taxes and increases your net earnings, it is a great help in qualifying for your first home mortgage. … (0 comments)
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