MORTGAGE CREDIT CERTIFICATES
Are there tax credits for first-time home buyers?
Are there tax credits for first-time home buyers? [back to top] Many city and county governments offer Mortgage Credit Certificate programs, which allow first-time home buyers to take advantage of a special federal income tax write-off, which makes qualifying for a mortgage loan easier.
What are the rules for mortgage credit certificates? [back to top] To qualify for a mortgage credit certificate, both your income and the purchase price of the home must fall within established city guidelines. These guidelines vary by city but generally only permit people who earn an average income or slightly higher than average income.
What is the Mortgage Credit Certificate program? [back to top] 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. |
-
My Home Tracker
- Save your favorite homes
- Get new property alerts
- Share with friends and family
-
Home Values
Find and compare local neighborhood home values