City of La Mirada Mortgage Credit Certificate (MCC)

The County of Los Angeles’ Mortgage Credit Certificate Program (MCC) offers first-time home buyers a federal income tax credit. The credit reduces the amount of federal taxes the certificate holder would pay. It can assist the first-time home buyer to qualify for a loan by allowing a lender to reduce the housing expense ratio by the amount of the tax savings. The qualified homebuyer who is awarded a MCC may take an annual credit against their federal income taxes paid on the homebuyer’s mortgage. The credit is subtracted dollar-for-dollar from their federal income taxes. The qualified buyer is awarded a tax credit of up to 15% and the remaining 85% are taken as a deduction from the income in the usual manner. For more information call (323) 890-7281

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