County of Marin Mortgage Credit Certificate (MCC) First Time Homebuyer Assistance

Mortgage Credit Certificate (MCC)
The MCC provides a federal income tax credit to eligible first-time homebuyers. The credit is equal to 15% of the annual interest paid on the first-time homebuyer’s first mortgage and can be taken as long as the home is the principal residence. The applicant must apply for and qualify for a first mortgage purchase loan from one of the participating Marin MCC lenders and mortgage brokers.

FIRST TIME HOMEBUYER PROGRAM

Phone: (800) 789-2342

The California Housing Finance Agency provides financing, down payment assistance and lower interest rates for Californians within specified income ranges. To qualify for a CalHFA loan, applicants must meet the following requirements:

Be a first-time homebuyer (defined as persons who have not had an ownership interest in their primary residence during the previous three years).
Have an annual household/family income that does not exceed income limits for the family size and county in which the home is located.
Have sufficient funds available to meet the required down payment (3-5%) plus closing costs. Property must be owner-occupied for the term of the loan or until sold.
Meet credit, income and loan requirements for the CalHFA lender and the mortgage insurer.
Be a citizen or other national of the US or a qualified alien as defined by the federal Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA).

To view the City of Marin’s website, please CLICK HERE

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Tagged as: County Mortgage Assistance, down payment assistance, first time homebuyer assistance