This is a Great Benefit not everyone understands. If you are a first-time home buyer (see definition here), you can apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). An MCC reduces your federal income taxes every year by allowing you to get 20% of what you spent on mortgage interest back as a tax credit. Because the tax credit refunds a portion of your mortgage interest, it also effectively reduces your mortgage interest rate. Lenders can actually use the savings as Income to help you qualify! I can connect you with Trusted Local Lenders that understand how to use this Credit, Lets Talk soon!
Click on the link below for more details at the Texas State Affordable Housing Corporation webpage including Calculators and a Quiz to see if you Qualify.