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Arlington Housing Finance Corporation

Arlington HFC Website

View the MCC Presentation (pdf)
 

Description

  • The Arlington Housing Finance Corporation’s Mortgage Credit Certificate Program is a federal income tax credit designed to assist persons to become homeowners
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  • With an MCC, the qualified homebuyer is eligible to write off a portion of the annual interest paid on the mortgage as a special tax credit, not to exceed $2,000
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  • An MCC is a true “tax credit” that entitles taxpayers to subtract the amount of the credit from their total federal income tax liability

  

Criteria for Eligibility

  • Homebuyer’s household income and the purchase price must not exceed the program’s maximum limits
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  • Homebuyer could not have owned a home in the last three years as their primary residence unless purchasing a home in the Target Area or is a Qualified Veteran
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  • Homebuyer must apply for the MCC through a participating lender
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  • Homebuyer must qualify for a mortgage
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  • Homebuyer must attend a HUD approved homeownership counseling course Homebuyer must purchase a home in the City of Arlington, Texas
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  • Homebuyer must occupy the home as their principal residence

  

MAXIMUM PURCHASE PRICE LIMIT:

  • Non-Targeted Areas $247,032
  • Targeted Areas $301,929

  

MAXIMUM INCOME LIMITS:

Non-Targeted Areas

  • 1-2 Occupants = $68,300
  • 3 or More Occupants = $78,545

 

Targeted Areas

  • 1-2 Occupants = $81,960
  • 3 or More Occupants = $95,620

  
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