First-Time Home Buyer Tax Credit

mcc tax credit for first-time home buyers

The Mortgage credit certificate(MCC) is a tax credit that can be used along with your loan of choice once a year. This is truly an incredible program that will save you tens of thousands of dollars during the life of your loan. Simply put, this program allows you to use a percentage of your monthly mortgage  payment as a tax credit.



The first-time home buyer tax credit isn’t just money that you can write off on your taxes at the end of the year but instead it’s an actual credit that can be added to your refund or help cover any money owned. It’s basically like getting a free check every year for being a homeowner. We can add an MCC to any home loan that we provide whether it’s a loan that requires down payment assistance, a VA loan, USDA loan, etc. An example of how it works is below. It’s important to note that the maximum tax credit that you can get once a year is $2,000.

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