SETH Extra Credit MCC Program
The program is available within the counties of Austin, Brazoria, Chambers, Liberty, Matagorda, Walker, Waller or Wharton, Texas, or the Cities of Baytown, Deer Park, Dickinson, La Marque, La Porte, League City, Pasadena, Santa Fe, Shoreacres, Texas City or Tomball, Texas.
Are You Eligible:
- Buyers must be a first-time homebuyer (not have owned a home in the past 3 years.) The first-time homebuyer requirement may be waived for borrowers purchasing a home in targeted census tract locations.
- Meet program income and purchase price limits determined by location and family size.
- Obtain mortgage financing from one of our MCC Program Lenders or search our list below.
How It Works:
Example: Loan Amount...$170,000 Interest Rate...3%
The buyer will pay $5,100 in interest that year
Tax credit provided by our MCC Program: 40%
$5,100 x 40% = $2,040
MCC Savings for the Homeowner: $2,000
Maximum amount of credit allowed per year is $2,000.