Tax Credit for 1st Time Home Buyers Still Available

There is a tax credit for 1^st time home buyers still available in the state of Alabama. You just have to know where to look. There is a Mortgage Credit Certificate (MCC) program for low to moderate income families available through The Alabama Housing Finance Authority.

The Mortgage Credit Certificate program provides a direct dollar-for-dollar reduction in federal taxes worth 20% of the mortgage interest paid each year. The remaining 80% of the interest still can be claimed as a tax deduction.

Home buyers who would like to use this program must use a lender who is participating in the program and must meet established income and sales price limits.

This program can be used with FHA, VA or Conventional Financing and can be combined with The Alabama Housing Finance Authority’s Step Up program.

You can go to The Alabama Housing Finance Authority’s website to get more information, including participating lenders and income limits that apply.

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This Blog by: Julie Martin, CRB, e-PRO, Broker/Realtor, Port City Realty, Mobile, AL; 
877-880-8110 toll free
251-665-4665 my celljulie@portcityrealty.com 

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