|MCC PROGRAM: The Program for you is the Mortgage Credit
Certificate, or MCC. The MCC is the best kept secret in town!
It is a special IRS tax credit issued to you by the County that
immediately increases your take-home pay, so you can qualify
for the loan. Then it keeps your new home affordable by
saving you several thousands of dollars in federal taxes every
year that you live in the home! The only way you can get this
credit is though this program, so you will want to learn all
LENDER APPLIES: Only your lender can apply for your MCC. So your number one goal is to link up with a program lender who has taken the MCC training. (We’ll show who they are later) Caution: Not all lenders have your best interest at heart. One might try to talk you out of the MCC so they can skip the paper work. Choose another lender! If you are eligible for the MCC, you should insist on it. Most lenders on our list are happy to apply for you, and know that the MCC approval process takes just a few days.
OK, so you know the MCC is great, and you know you’ll need
2 SMALL STEPS FOR YOU-1 HUGE STEP FOR HOMEOWNERSHIP!!
1. GET SMART
Some classes provide you with your credit scores, and how to repair credit problems. Learn what kind of loans are good for first-time homebuyers, and which ones aren’t. Find out how much cash you will need for downpayment and closing costs, and prepare to show proof that you have sufficient savings. In other words, be prepared. Investigate!
2. GET PRE-APPROVED
Caution: Don’t be discouraged if prices are too high for what you can afford. You may have to alter your plans a little, such as saving more for the downpayment, or looking for a smaller home. Stay optimistic and look for bargains. Your motovation is your greatest asset in buying a home.