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. On February 5th, we adjusted that credit rate to 30%. The MCC Tax Savings Calculator tool above calculates tax savings based on the 30% credit rate.
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.
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TSAHC was created in 1994 as a self-sustaining nonprofit housing organization. At TSAHC we believe that every Texan deserves the opportunity to live in safe, decent and affordable housing. Our programs target the housing needs of low-income families and other underserved populations in Texas who do not have acceptable housing options through conventional financial channels. All TSAHC programs are offered statewide, with special attention given to rural areas and other select target areas.