Use The MCC Tax Credit To Boost Your Home Purchase Power

Example of the Federal Tax Credit advantage of an MCC:

MCC of $2,000

No MCC With MCC
Taxable Income $50,000.00 $50,000.00
Mortgage Interest Deduction $10,000.00 $8,000.00
Taxable Income $40,000.00 $42,000.00
Federal tax liability @15% $6,000.00 $6,300.00
Subtract MCC amount n/a $2,000.00
Net taxes owed $6,000.00 $4,300.00
Annual tax savings $0.00 $1,700.00
Purchase power boost $0.00 $1,700/12 = $142
Increase in purchase power $0.00 $24,000.00

To find out how the MCC can boost you purchase power click here. 

 

By David Hughson

MCC Mortgage planner

858-863-0264

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The GreenHouse Group, Inc. | Real Estate Consulting & Mortgage Planning. "Moving People With Purpose."

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