7/16/2009 - New North Carolina Tax Credit
What a great time to buy! North Carolina has just passed a new law to help residents achieve their dream of buying a new home! Home buyers who meet the income requirements and first-time home buyer guidelines may be eligible for a Mortgage Credit Certificate (MCC). First time Home Buyers, Buyers who have not owned a home in the past 3 years, or even current Homeowners that are looking to move to targeted areas designated by the lender may be eligible for a MCC. If you qualify for an MCC, you will be able to claim 20% of the interest you pay on your mortgage as a credit on your federal income taxes. You can save up to $2,000 EACH YEAR YOU LIVE IN YOUR NEW HOME on your federal taxes!
This program can also be combined with the new federal government's $8,000 Tax Credit, as long as you buy before December 1, 2009.