ARLINGTON HOUSING AUTHORITY MCC

Arlington Housing Authority MCC Program

Down Payment Assistance

 

Arlington Housing Authority Program

Location Served: Arlington, TX

Provider: City of Arlington

Approved Lender: New American Funding – (512) 524-8077

Website

 
The Arlington Housing Finance Corporation’s Mortgage Credit Certificate Program assists the homeowners of Arlington by providing them with a federal income tax credit. With a Mortgage Credit Certificate, eligible homeowners are allowed to write off a portion of the annual interest paid on the mortgage as a special tax credit, up to $2,000. With an MCC, taxpayers can subtract the credited amount from their total federal income tax liability.
 

Eligibility Requirements

 
In order to qualify for the Arlington Housing Authority Program, participants must:
 

  • Not have a household income or purchase price that exceeds the program’s maximum limits
  •  

  • Be a first time homebuyer or not have owned a home in the last three years as their primary residence (Applicants purchasing a home in the Target Area and qualified veterans are exempt from this requirement.)
  •  

  • Apply for the MCC through a participating lender
  •  

  • Qualify for a mortgage
  •  

  • Attend a Homeownership Counseling Course that is approved by the HUD
  •  

  • Purchase a home in the City of Arlington, Texas
  •  

  • Use the home as their principal / primary residence

 

Maximum Purchase Price Limit

 

  • The maximum purchase price for a home located in a Non-Targeted Areas is $247,032
  •  

  • The maximum purchase price for a home located in a Targeted Areas is $301,929

 

Maximim 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
  •  

 
If you have any additional questions regarding home mortgages, please contact a mortgage expert by filling out the form on the right or calling (512) 524-8077. You can also email Team@CandyBuzan.com.

This website marketing is not intended to offer loan services for properties in New York.