With all the creative financing options over the past few years, there is one option called the Mortgage Credit Certificate that has been around since 1984. It's probably the most forgotten tax credit program that many loan officers and real estate agents neglect to mention to their first time buyers.
Loan
With over two-thirds of States and hundreds of counties and city Housing Finance Authorities providing the tax credits for first time homebuyers (or by geographic location), it's not only used to offset income tax liability, but can be used in conjunction with the $8,000 Tax Credit - amounting to a DOUBLE TAX benefit!
Officer
Best of all, Fannie, Freddie and FHA have more flexible underwriting rules and can use the extra "income" to qualify for higher loan amounts.
Training
Before you purchase this seminar, check with your state or local government to make sure you can offer it in your area. If it IS offered, then you need to get out there and let the world know how it works and how FTHBs can benefit.
When
Here's what you'll learn:
in-house
- How the Mortgage Credit Certificate works with examples
- How the agencies use the tax benefit to qualify more clients
- Why clients need to understand and adjust W-4 Form
- Where to find leads
- How to market the MCC program
Downloads Included: IRS Forms & Supporting IRS Publication
Training
