How Mortgage Credit Certificate Helps You Afford More | Tax Credits

Описание: In this video, I share how one family was able to buy a more expensive home with the help of tax credits known as Mortgage Credit Certificate (MCC).

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So just this week we actually had a client that was pre qualified with another lender and they were pre qualified for $180,000. But everything that this particular client wanted was really like $190,000. The local real estate agent said hey call Jason and his team, they might be able to do something more.

So what we were able to do is to get her up to the $190,000 price point that she wanted. And one of the loopholes that we did was what they call the mortgage credit certificate. MCC is the abbreviation and the mortgage credit certificate can get you in most situations up to $2000 as a tax credit, not tax deduction, actual tax credit.

You can get up to $2000 of the tax money you paid in. If the lender knows what they're doing for a lot of the loan programs, you can actually offset the tax credit savings off of your mortgage payment to push you up in that higher price point. And in this client's particular case, the other lender didn't even go down the road. They either didn't want to because it was complicated or they didn't want to because they just don't know how to do it.
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