What is the Mortgage Credit Certificate (MCC) Program offered by the SF Mayor’s Office of Housing (MOH)?

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.

 

Do you have a question about San Francisco you’d like to be answered? Submit your question here!

Sign up for our weekly newsletter and join the conversation on Facebook.

 

Check out some of our most popular blogs:

     Universal Internet Access for All San Franciscans

     Why is San Francisco So Dirty?

     SFPark – The iPhone App for Smart Parking in San Francisco

     Food Truck Rodeo Review – Off the Grid

Paid for by Phil Ting for Assembly 2012. FPPC ID# 1343137