Have you ever heard about the Florida Housing Mortgage Credit Certificate (MCC) program? This really cool program helps first-time home-buyers save money every single year that they live in their home. The first-time homeowner can claim between 10 to 50 percent of their mortgage interest every single year as a tax credit on their Federal tax returns. The cap is $2,000 per year for a credit that exceeds 20 percent. But remember, that’s not a deduction, that’s an actual tax credit! Every single year, Florida homeowners with the MCC can claim a dollar-for-dollar reduction of taxes owed! Plus, any mortgage interest not included for the tax credit can still be deducted on the Federal tax return.
The Florida Housing Mortgage Credit Certificate program is only for first-time home-buyers though. Well, you could also qualify if you purchase a home in one of the Federally Designated Target Areas in Florida or be an eligible veteran too. The MCC can be issued with any fixed rate mortgage loan from a participating lender. So, if you qualify, make sure you choose a participating lender!
Obviously, there are income limits and home price limits. These vary between counties and family size. Learn more here.
We Are Your Indian River County Experts
Please consider our team at Alex MacWilliam Real Estate whether you’re selling your home or looking for a new one. We love helping make people’s dreams come true. Plus, we’re experts in this area. Want to find a place to golf in Vero Beach? Just ask one of our skilled realtors while touring your potential new house! Our realtors will try to answer any questions you might have about amenities you can find nearby. Also, check out our Vero Beach relocation guide.
Feel free to use our online search tool to find Vero Beach real estate from your device now. Plus, while you’re at it, also check out:
- Open houses in Vero Beach
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So, if you are considering relocating to Vero Beach, please contact us today. Our real estate team is extremely knowledgeable about the area and can find the perfect home for you. Call us at 772-231-6509 to talk to a Realtor® in Vero Beach, FL today. We can search the MLS and find your dream home.