These past couple of months have seen a major increase in real estate activity in the West Michigan area. It seems that many potential home buyers are rushing to beat the deadline to qualify for the Home Buyer Tax Credit which provides up to $8,000 for qualified first time home buyers and up to $6,500 for buyers of second homes.
But in all the hustle and bustle, there’s another Tax Credit which will CONTINUE to be available to qualified home buyers long after the deadline for April 30, 2010 has past. It’s the MCC Tax Credit, a federal program that allows new, qualified home buyers to take up to 20% of their annual mortgage interest to be credited against their tax liability.
This program is available from participating lenders in Michigan to Michigan home buyers on a first served, first come basis. Interested in learning more…Click here.
If you’re an investor or purchasing a home which will require some rehabilitation, there are mortgage programs which will allow you to do this. If you’d like a referral to a lender who is qualified to process these transactions, please contact us at 616-791-0511.