Did your last lender offer you a $2000 yearly tax credit?

Most 1st time homebuyers (Realtors for that matter) have no idea that there is a yearly tax credit of up to $2,000 every year you have your mortgage available in the state of Ohio.  For a first time homebuyer you can receive a tax credit in the amount of 20% of the mortgage interest paid on your loan for every year you have it with a cap of $2000.  For anyone buying a bank owned home to live in you can receive a 30% of the mortgage interest paid on your loan for every year you have it with a cap of $2000.  This program is called the Mortgage Credit Certificate program MCC and may be available in may other states as well.  To apply for the credit you must use a approved lender for your mortgage loan.  The loan must be a fixed rate but can be a conventional or FHA loan.  Funds are limited but available at the current time. 

 

Please contact me for more information

 

Brent Diebert        The Arlington Bank         614-486-3843             BrentDiebert@Arlingtonbank.com

 

 

 

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