Do You Qualify as a New Orange County Home Buyer…?
Hello Home Buyers and most importantly New Home Buyers, if you have not owned property in the past 3 years you are eligible for this deal in only the County of Orange…
Orange County wants to offer a MORTGAGE CREDIT CERTIFICATE to all home buyers who have not owned property in the past 3 years. It is allowing everyone the opportunity to restart and get back into that home they were once in or into their very 1st home. The County is offering a tax credit of 15% for the mortgage interest paid each year. It’s a dollar for dollar reduction against your federal tax liability. Credit is available for the life of the loan and can be re-issued if the loan is refinanced. Income limitation is about $111,600.00 annually for a family of two and purchase price limitation is about $665,000.00. For example if the borrower is paying $1800.00 mortgage payment per month and $1,200.00 of the payment is the interest he or she will receive $1,200.00X15%= $180.00 tax credit per month or about $2,160.00 per year. I am waiting to get the most up dated info from MCC for 2013, as soon as I receive the information I will forward it to you.
Information Provided by Abe Sedaghati. Check out this link for a chart Abe has provided us with similar details Financing Attachment Epreadsheet
Don’t hesitate to contact The Weeks Team with any other information regarding New Home Purchases.
The Weeks Team