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Mortgage Credit Certificate (MCC) Program
The San Diego Housing Commission (SDHC) offers a Mortgage Credit Certificate (MCC) Program, through which you can increase your buying power by reducing the amount of federal taxes taken out of your wages. With an MCC, 15-20% of your annual mortgage interest counts as a deduction (in the same way a dependent is counted) on your tax returns.
Program Guidelines The level of tax credit you receive depends on the area in which you purchase your home. For targeted areas (neighborhoods in which the city is focusing revitalization efforts), you would receive a 20% interest deduction MCC. In a non-targeted area, you would receive a 15% interest deduction MCC. An additional benefit to purchasing in a targeted area is that qualifying income limits are higher. For all MCCs, purchase price limits apply. Click here for more information on program guidelines.
Targeted Neighborhoods The areas listed below are considered targeted under the MCC program. To match census tracts with property addresses, look at a Thomas Brothers map book or click here.
How To Apply Contact a Participating Lender with whom you will obtain your first mortgage. The lender will apply on your behalf for the MCC from SDHC.
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