Saturday Strategy
Mortgage FAQ's, did you knows and much more...
Mortgage Credit Certificate - Arizona
I'm here to share a valuable tip with you about Mortgage Credit Certificate (MCC). If you're a first time home homebuyer, especially with moderate income, this could be a game-changer.
Understanding MCC: MCC is a program designed to assist low to moderate-income homebuyers in reducing their tax burden through an IRS tax credit. It's a tool we recently used to help two families, and it's something more people should know about.
The Cool Factor: What's truly fascinating is that many lenders are unaware of this fantastic benefit – you can use the MCC tax credit as part of your income. In some cases, it can even be applied to lower mortgage insurance costs, further reducing your monthly payments. The best part? This benefit is for the entire life of your loan.
Qualification and Application: To be eligible, you must be buying a home for your primary residence and meet specific income and purchase price limits. If you think you or someone you know might qualify for this program, especially first-time homebuyers, don't hesitate to reach out. The MCC opportunity is ongoing, and once you secure it, you can use it for the entire duration of your mortgage as long as you qualify each year.
Why It Matters: With the growing affordability challenge in the housing market, finding additional income through programs like MCC is crucial. This tax credit can be worth up to $2,000 annually, making a significant impact on your qualification.
Conclusion: Thank you for tuning in. If you know someone who could benefit from this information, please share it with them. Whether it's to ease the path to homeownership or just to enjoy that extra $2,000 every year, MCC is worth exploring.
For more info go to https://cictucson.org/mcc/
This is available in states outside of Arizona and we can help with that too! just give us a call at 480.553.8770
P.S. Can I count on you to call us when any friends, family or coworkers are looking to buy, sell or refinance a home? We'd love to help! You can just text/call me at 480.553.8770.
Oops! Home Prices Didn’t Crash After All
Kevin Brierton – 6.5.2023 During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts: Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business: “I expect housing prices fall 10% to 15%, and the…
The True Value of Homeownership
Kevin Brierton – 6.1.2023 Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides. Of course, there are financial reasons to buy a house,…
Keys to Success for First-Time Homebuyers
Kevin Brierton – 5.31.2023 Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that…
Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off
Kevin Brierton – 5.30.2023 Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to…
The Benefits of Selling Now, According to Experts
Kevin Brierton – 5.25.2023 If you’re trying to decide if now’s the time to sell your house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyers out there than there are homes for sale. And, with so few homes on…
Owning a Home Helps Protect Against Inflation
Kevin Brierton – 5.24.2023 You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be…
Why Buying a Vacation Home Beats Renting One This Summer
Kevin Brierton – 5.23.2023 For many of us, visiting the same vacation spot every year is a summer tradition that’s fun, relaxing, and restful. If that sounds like you, now’s the time to think about your plans and determine if buying a vacation home this year makes more sense than renting one again. According to…
Why Buyers Need an Expert Agent by Their Side
Kevin Brierton – 5.22.2023 The process of buying a home can feel a bit intimidating, even under normal circumstances. But today’s market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the…
Powerful Job Market Fuels Homebuyer Demand
Kevin Brierton – 5.18.2023 The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong and getting stronger. One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing…
What You Need To Know About Home Price News
Kevin Brierton – 5.17.2023 The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, while other home price indices…
P.S. Can I count on you to contact me if you hear that a friend, family or coworker is looking to buy, sell or refinance? Call/Text 480.553.8770 - We'd be honored to help them too!