Happy 2008…

Tuesday, January 1st, 2008

Just like my good friend, CNN’s Anderson Cooper, one of my biggest New Year’s resolutions is to post to my blog more often. I come across so much valuable information every day - on the web, in my inbox, and in my day to day interactions with clients, mortgage brokers, appraisers, inspectors…I feel like I’m so lucky to have the opportunity to learn so much about the Real Estate industry every day - I’m going to explode if I don’t pass it on!

So here’s a little teaser…

Did you know that The Mortgage Credit Certificate program allows first-time home buyers to take advantage of a special federal income tax credit? This program allows buyers credit in qualifying for the tax advantage they’ll receive after they purchase the home.

The amount of the credit is tied to a local formula that every city with an MCC program must follow. A MCC credit, which can total $2,000 or more, reduces the borrower’s federal tax liability by an amount tied to how much one pays in annual mortgage interest.

Both the borrower’s income and the purchase price of the home must fall within established guidelines.

Wondering if you qualify for this program? Contact me!

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