The Industrial Development Authority of the City of Tucson recently launched the 2020 Mortgage Credit Certificate (MCC) Program, administered by Advantage Housing Services LLC, to help first-time homebuyers become homeowners. The MCC Program is designed to reduce a first-time homebuyer’s federal income tax bill by providing an annual dollar-for-dollar federal tax credit of 40 percent of the mortgage interest paid, up to $2,000.
Homeowners receive the tax benefit every year until they move or sell the home. Although the program generally serves first-time homebuyers, non-first-time homebuyers purchasing in designated “target areas” may also qualify if they are purchasing their primary residence. Income and purchase-price limits also apply.
For more information, call (520) 882-5591, ext. 126, or email Karen Valdez at email@example.com.