Santa Cruz County Home & Community Information

SANTA CRUZ MORTGAGE CREDIT CERTIFICATE - MCC - ATTENTION FIRST TIME HOME BUYERS!

Attention all first time home buyers in Santa Cruz!  New Mortgage Credit Certificates - MCC's have just been made available in Santa Cruz.  This is a great program for first time home buyers and can help you buy your dream home.

So what is the Mortgage Credit Certificate or MCC?  How the Santa Cruz MCC works is that first time buyers will receive a 20% tax credit on their federal taxes.  You take 20% the total interest you pay on your mortgage per year and you receive it as a direct tax credit.  For example, say you pay $18,000 in interest a year on your mortgage.  You would receive a tax credit of $3,600, that is $300 a month!

This extra money that the Santa Cruz MCC or Mortgage Credit Certificate provides a first time buyer can help you qualify for a higher loan amount and save you money.  You will be able to use the MCC every year that you live in the home!  Over the years that will be quite a money saver.

The MCC is one of the best Santa Cruz first time buyer programs out there.  There is a limited amount of Santa Cruz Mortgage Credit Certificates available and income restrictions do apply.  Contact me to find out if you can qualify to use the Mortgage Credit Certificate and other Santa Cruz First Time Home Buyer Programs.

You never know,  you just may be able to qualify for a mortage that is less than your rent!  Read my post Success in using first time home buyer programs in Santa Cruz for an example.