San Diego First Time Home Buyer receives $350/m credit towards their house payment

Mortgage and Lending with Capital Loan Associates NMLS #229167

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. But it doesn’t stop there. The MCC is registered with the IRS, and it continues to decrease your federal income taxes each year for as long as you live in your home.

How to Qualify
1) Your household income and the purchase price must not exceed the limits shown below.
2) You must not have owned a principal residence in the last three years.
3) You must occupy the home.
4) You must apply for the MCC through a participating Lender, and pay a non-refundable
MCC application fee of .002 X the loan amount (1st and 2n d if applicable)

5) You must purchase a single-family detached home, condominium, townhouse, or duplex within the program boundaries.

Max. Income Limit:

Non-Targeted Targeted
1 or 2 persons: $80,028 $96,033
3 + persons: $93,366 $112,039

Max. Purchase Price:
Resale: $546,318 $667,722
New: $482,920 $590,246
Duplex $567,160
Duplex must be at least 5 years old.


Contact me at to get pre-qualified.

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