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.

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.

SHRA Mortgage Credit Certificate (MCC) Program - Sacramento is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Contact lender for current credit score requirements. A homebuyer education course is required, through HUD-approved homebuyer counseling. Residency requirement: Property in Sacramento City or County. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Federal tax credit equal to 20% of annual mortgage interest (max $2,000/yr); reduces federal income tax owed; first-time homebuyer required; income and purchase price limits per county.

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.

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.

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

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. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.