If you are a first-time home buyer (see definition here), you can apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). An MCC reduces your federal income taxes every year by allowing you to get 20% of what you spent on mortgage interest back as a tax credit. Because the tax credit refunds a portion of your mortgage interest, it also effectively reduces your mortgage interest rate.  

To qualify, you must meet certain income requirements and the home must meet certain sales price restrictions.  Home buyers that qualify for TSAHC’s Homes for Texas Heroes program will receive their MCC for FREE.

To get more information, click here.

• For Prospective Homeowners