It's tax season which means this is the time of year we like to promote our Mortgage Credit Certificate (MCC) program. In simplest terms, the MCC is a mortgage interest tax credit that saves home buyers up to $2,000 off their federal income taxes every year. MCCs are available to first-time home buyers who are eligible for either our Homes for Texas Heroes or Home Sweet Texas Home Loan Programs.
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.
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.
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