Mortgage credit certificate program up to $ 2,000.
See example !
MCC Example: MCCs are issued directly to qualifying Applicants who are then able each year to take a tax credit equal to a specified percentage of the interest paid on their mortgage not to exceed $2,000. The Mortgage Credit Certificate rate is 40 percent. Thus, an Applicant with a $121,000.00 mortgage (30 year fixed with equal monthly installments of principal and interest) would realize the following savings:
|Annual Percentage Rate:||5.00%|
|Total Interest Paid First year:||$ 6,500.00|
|Mortgage Credit Certificate Rate:||X .40|
|Tax Credit Amount:||$2,600.00
- Buy with only 3.5% Down Payment.
- Up to $331,200 Loan in TX with lower PMI than Conventional.
- Less perfect credit, easy to qualify as low as 600 FICO.
- 100% gift allowed for down payment.
- Purchase Plus Rehab Loan – FHA 203k.
- An assumable loan
- Mortgage insurance does not vary by credit score.
- 2-4 family allowed.
- Non-occupant cosigner allowed.