This program helps low-to-moderate income homebuyers purchase their first home.
Mortgage loans with down payment and closing cost assistance are available. The amount of assistance is 5% of the mortgage amount. For example, $5,000 of assistance is available on a $100,000 mortgage. The 1st lien mortgage loans are available at competitive interest rates. Check today's rates.
An MCC allows the homebuyer to claim up to $2,000 annually as a tax credit toward their federal income tax liability.
These 2 programs may be combined to maximize the benefit to the homebuyer.
To apply for either or both programs, contact a participating lender near you.
Or, learn more about these exciting first time homebuyer programs.