Heard of the San Diego Housing Commission MCC Program? This program is designed to help homeowners to more easily afford their mortgage with the assistance of government tax credits. Through this program you will become entitled to take a federal income tax credit equal to either 15% or 20% of the mortgage interest on the loan. This effects just your federal taxes and not state.
In using this program it will be arranged with your employer to withhold less taxes from your pay, thereby increasing your take-home pay which will then allow you to have more money accessible to pay your mortgage. This MCC program is a direct tax credit which you are able to take in addition to the mortgage interest deduction available to all homeowners who make mortgage payments.
Here is an example of how this Program works:
Continue reading and Find out more about this great program!
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