If you're like us, you probably have a lot of questions when it comes to something tax-related. That's why we created new MCC tools that help explain the tax benefits of an MCC to home buyers.
MCC Tax Savings Calculator
The below tool (available here) helps home buyers calculate their cumulative tax savings with an MCC.
MCC Program Overview Video
The below video explains how an MCC lowers a home buyer's federal income taxes.
The calculator and program overview video are both available on our MCC web page.
MCC Training Video
In addition to the above, we also created the below training video to educate lenders and REALTORS® about how the MCC program works and its benefits. This video is available on our MCC training web page.
More Information About the MCC Program
If you're familiar with our MCC program, you may know that there's a credit rate associate with it. That rate is the percentage of mortgage interest a home buyer can claim as the tax credit. The credit rate is equal to 20% of the annual mortgage interest paid.
On the House blog posts are meant to provide general information on various housing-related issues, research and programs. We are not liable for any errors or inaccuracies in the information provided by blog sources. Furthermore, this blog is not legal advice and should not be used as a substitute for legal advice from a licensed professional attorney.
Leave a Comment
TSAHC reviews all blog comments before they are posted to ensure a positive experience for our online community. Off-topic comments; hostile, derogatory or deliberately insulting comments; and comments specifically promoting goods and services will not be posted.
Approved comments will be published in their entirety. Personal information will not be removed unless it pertains to someone other than the person submitting the comment. For more information, please see our Comment Posting Guidelines.
To remove a previously submitted and published comment, please contact Anna Orendain at [email protected].
If you have a question regarding any of TSAHC's programs, please contact us.