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"As a first-time homebuyer, I was nervous about the entire process. Step by step, Joe made it easy and fun. His expertise in the Columbus real estate market is a tremendous asset. He is highly recommended!" - Nicolette Horan
"I wanted to say thank you again, so much, for all your hard work. I know that you really put a lot of time into this transaction and I really, really appreciate it. I'm so happy I got the house and it all worked out and I just wanted to say thanks again, you did a great job and i really appreciate it. I will put that on the survey when they send it to me.
If there is ever anything I can do for you, please don't hesitate to give me a call. I will refer every single person I know to you. I'm going to go get my dog and we're going to sit on the floor of our new house and have a glass of champaign. Thanks a lot Joe" -- Michael Mamp
FREE Money for Buyers - The Mortgage Credit Certificate
May 1st, 2006 categories: For Home Buyers, Mortgage/Finance, Real Estate News
This is a super deal that sounds too good to be true. In reality though, it’s the real thing. If you are buying a home, especially in a targeted area, be sure to ask your lender about this program. Fist come, first served, I believe.
As always, use programs like these responsibly.
2006 MCC Tax Program
Mortgage Credit Certificate Program
How the program works
The MCC increases a households disposable income by reducing its federal income taxes. A reduced tax burden will free up more income to help households qualify for a mortgage loan and meet loan payment requirements.
With an MCC, 20% (25% target areas) of the mortgage interest is a tax credit a-dollar-for-dollar reduction of income tax liability for the life of the loan. The remaining 80% (75% in target areas) mortgage interest continues to qualify as an itemized tax deduction for the homebuyer.
For example:
Targeted Area: $100,000 x 6.5% x 25% credit = $1625 year or $135.42/mo
Nontargeted Area: $100,000 x 6.5% x 20% credit = $1300 year or $108.33/mo
Income and sales price apply call me for details
This amount we can take off of the borrowers payment to qualify them.
For additional information call Randee Estep Branch Manager
Randee Estep
Branch Manager
Colony Mortgage Downtown
781 E. Main Street
Columbus, Ohio 43205
614-221-2100
614-402-0140