| Real Estate Terms -> What is the Mortgage Credit Certificate Program (MCC) |
Mortgage Credit Certificate Program (MCC)
|
 |
| Q: |
 |
|
What is the Mortgage Credit Certificate Program (MCC)? |
| |
| A: |
|
|
The Mortgage Credit Certificate (MCC) Program is sponsored jointly by the Federal Government and a local government (City or County). The MCC is a tax savings plan recognized by the IRS and offers a tax credit of up to 20% of the interest you pay in your home loan. This credit can give you several hundreds of dollars each month which will come to you in your paycheck. We can use the credit to greatly increase your qualifications which will get you into a much nicer home. The MCC can be combined with many other programs to create very effective financing packages. |
| |
|
|
Disclaimer:
Do not rely on these definitions for any purpose other than providing an understanding of the concepts in our web site. More... |
