In this episode, I explain what is a Mortgage Credit Certificates (MCC), a valuable federal tax credit for first-time homebuyers seeking to ease the financial burden of purchasing a home. 

I will cover the eligibility criteria, calculation, distribution, and the overall impact of the MCC on homeowners. Who qualifies for the MCC, what are some benefits as well as the downside, including income restrictions and the potential recapture tax.

In this episode, you’ll learn:

• What is MCC
• MCC and tax savings
• What are the advantages of the MCC
• How MCC enhances your buying power

Must-listen moments: 

[00:01:30] Who qualifies as a first-time homebuyer

[00:03:00] How income limits impact MCC eligibility

[00:04:45] How the MCC works in practice, particularly in reducing overall mortgage payments

[00:06:20] What potential tax savings come with an MCC

[00:08:00] How an MCC can increase a homebuyer's budget and purchasing power

[00:09:15] What is the application process for an MCC, including required documents and steps

[00:10:30] Who have benefited from MCC

✅ Fact Sheet: https://thetexashomebuyerprogram.com/uploads/Revised-mcc-fact-sheet-06262020.pdf

✅ Recapture Tax Explained: https://thetexashomebuyerprogram.com/uploads/RecaptureBrochure.pdf

👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 

Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 

💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/

📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo

To contact us visit www.loanwithjen.com

Equal Housing Opportunity Lender NMLS# 514497

Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.

Resources mentioned in the episode:

https://www.loanwithjeneducation.com/

https://www.instagram.com/loanwithjen/

https://www.facebook.com/loanwithjen

https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g

https://www.linkedin.com/in/loanwithjen/

https://twitter.com/LoanWithJen