First Time Home Buyer Nc Tax Credit. Or these buyers may qualify for the nc home advantage tax credit which can save them up to 2 000 a year on their federal tax liability with a mortgage credit certificate. Credit score requirements for the mcc mortgage program are 640.
Sales price restrictions mean the maximum sales price can not be more than 245 000. These certificates are also known as the nc home advantage tax credit the mcc provides a federal tax credit of 30 of the annual mortgage interest 50 for new construction homes. The nc home advantage tax credit enables eligible first time buyers those who haven t owned a home as their principal residence in the past three years and military veterans to save up to 2 000 a year on their federal taxes with a mortgage credit certificate mcc.
The obama administration enacted the federal first time home buyer tax credit in 2008.
Mortgage credit certificate for an annual federal tax credit of up to 2 000 for eligible first time home buyers and military veterans. The nc housing finance agency issues mortgage credit certificates or mccs to first time buyers veterans and people buying in specific geographic areas. The obama administration enacted the federal first time home buyer tax credit in 2008. Or these buyers may qualify for the nc home advantage tax credit which can save them up to 2 000 a year on their federal tax liability with a mortgage credit certificate.