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.

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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!