The Mortgage Credit Certificate (MCC) Program offered to first-time homebuyers by the San Francisco Mayor’s Office of Housing (MOH) is a program designed to assist first-time homebuyers qualify for a mortgage loan and reduce their effective mortgage interest rate. The MCC offers a federal income tax advantage equal to 15% of the mortgage interest paid annually. This translates into 15% of a homebuyer’s mortgage interest being deducted directly from their annual tax debt. The end result is an increased ability of a homebuyer to qualify for a mortgage loan and reduce their effective mortgage interest rate. You can learn more about the MCC by clicking here.

 

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