Alliance 4 Housing

Partners > Brazos County

ATTENTION, FIRST-TIME HOMEBUYERS!
 
First-time homebuyers:
You can save about $150 a month, up to $2,000 a year, with the Mortgage Credit Certificate Program.
$28 Million Available for First-time Homebuyers through the  Mortgage Credit Certificate Program
See a participating lender and ask about the MCC. You may qualify to save money on your mortgage loan!
You can save up to 35% of your mortgage interest for as long as you own and live in the home.
  
Brazos County Housing Finance Corporation
Mortgage Credit Certficate Program
The MCC is a tax credit that will reduce the  federal income taxes of eligible buyerspurchasing a qualified residence within the counties of Brazos, Burleson, Grimes, Leon, Madison, Robertson and Washington.   
 
An Example of MCC Savings

To qualify for the MCC:
Maximum Income Limits
There are limits on the maximum income you can earn and obtain a Mortgage Credit Certificate (you also must meet loan qualification requirements):
Number of Family Members
Maximum Non-Targeted Income
Maximum Targeted Income
1-2 Members
$60,300
$72,360
3+ Members
$69,345
$84,420

 

 

 

 

Maximum Income Limits
These are maximum purchase prices for all homes, including newly built and existing:
Non-Targeted Area
Targeted Area
$247,022
$301,929
 
Participating Lenders:
These community lenders have  been trained to use the MCC program:
  City Bank Mortgage
305 Arguello
College Station, TX 77840
979.846.7844
 
Cornerstone Mortgage
 307 Arguello
College Station, TX  77840
979.260.1448
 
Premier Nationwide Lending (NTFN)
2001 Lakeside Pkwy.
Flower Mound, Texas 75028
972-537-0600
 
SMI Lending, Inc.
4230 LBJ Freeway, Suite 225
Dallas, TX 75244
979-596-0025
 
OR CALL THE MCC HOTLINE AT:
713.260.3553
 
DOWNLOAD A BROCHURE
35% MCC Credit
Loan amount
$120,000
Times loan interest rate
x 5.0%
Approximate Annual Interest
$6,000
Times MCC credit rate
x 35%
Maximum Approximate Annual MCC Savings
$2,000
Additionally, your adjusted gross income for last year must be $83,300 or less. (These numbers are subject to change annually.)
 
Take the steps toward your
Mortgage Credit Certificate for savings!
Step 1:      Talk to your lender about an MCC application and procedures.
Step 2:      Check your eligibility for an MCC
Step 3:      Calculate how much you can save.
Step 4:      Obtain your MCC and save about $150 a month:
Step 5:      Enjoy your annual income tax savings and your new home.