Information presented by:
NOT a government website
is this program for?
does the program work?
properties are eligible?
else do I need to know?
do I apply??
This program is for First Time Homebuyers with a household income that does not exceed the program income limits. The applicants and ALL household members over the age of 18 must be first time homebuyers.
A first time homebuyer is defined as someone who has not had ownership of any real estate in the previous 36 months.
A displaced homemaker and a single parent who owned a home with his or her spouse while married may be exempt for the 36 month rule.
The first time homebuyer requirement is waived for home in targeted neighborhoods.
The income limits for this program can be Found on the INCOME LIMITS PAGE
The program gives homeowners a tax credit equal to 20% of the annual interest paid on the mortgage loan. The remaining 80% of the mortgage interest paid would continue to be an itemized deduction.
We are not tax advisors. Contact your tax accountant or the IRS for guidance.
Property Taxes paid $4,646 Interest Paid $12928
(after MCC credit
You could adjust your W-4 withholdings to benefit on a monthly basis rather than by waiting for the tax refund at the end of the year..
Due to recent federal tax changes, CalHFA 1st lien programs will not use the MCC program for unincorporated areas of the county to assist in qualifying. The buyer can still apply for the MCC and receive potential tax benefits.
Maximum sales prices based on county where property is located.
Looking for a different area? Find it here: Complete list of MCC sales price limits
Homes located within certain Census tracts are considered to be in targeted neighborhoods and will have the higher sales price limits and no First Time Homebuyer requirement. To confirm that the home is located within a targeted census tract, contact me directly OR input the property address HERE and compare the census tract number to the ones found HERE.
52 Freeway Area
Kearney Mesa/Clairemont Area
City Heights/East San Diego
East San Diego
Black Mountain Area
Southeast San Diego
Southeast San Diego
South San Diego/San Ysidro
As already mentioned, these guidelines are not the complete set of eligibility and qualification requirements but rather an over view.
Applications are made through an approved participating lender
Laura Borja with Mann Mortgage is an approved participating lender
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Information in this website is not intended as a commitment to lend, an offer to extend credit, or rate guarantee. Not all applicants will qualify. Information provided is deemed reliable as of published date but is not guaranteed. Laura Borja (NMLS#199107) and Mann Mortgage, LLC are not endorsed by, nor acting on behalf of or at the direction of, U.S. Dept of Housing and Urban Development, Federal Housing Administration, Veterans Administration, the U.S. Department of Agriculture or any other Federal Agency. Mann Mortgage NMLS#2550 is Licensed by the Dept of Business Oversight under the California Residential Mortgage Lending Act #813K741
11230 Sorrento Valley RD, Ste 140
San Diego CA 92121