SHRA Mortgage Credit Certificate (MCC) Program - Sacramento

What is SHRA Mortgage Credit Certificate (MCC) Program - Sacramento?

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento is a mortgage credit certificate for homebuyers in Sacramento County, California.

• Federal income tax credit of 20% of annual mortgage interest (max $2,000/year) through SHRA's local MCC program. First-time homebuyers purchasing in Sacramento City or County. Valid for life of loan.
• Up to $2,000 in assistance.
• non-repayable grant.
• Funding comes from Federal tax credit.

How much assistance does it provide?

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento provides assistance worth 20% of the purchase price, as set by the program.

• The program asks buyers to contribute 1% of purchase price (borrower minimum).
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento is a tax credit rather than a loan, so there is nothing to repay.

• Repayment is triggered by Possible federal recapture if sold within 9 years.
• The assistance is recorded in N/A (grant - no lien) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento limits household income to 115% of the area median income, which varies by county and household size.

• Contact program provider for current income limits.
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento caps the purchase price as follows: Contact program for current purchase price limits.

• Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento serves buyers purchasing in Sacramento County, California.

How do you apply?

Applications for SHRA Mortgage Credit Certificate (MCC) Program - Sacramento go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved homebuyer counseling.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Contact provider directly; subject to funding availability, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.