Buying a home is always a big decision—one that’s both nerve-racking and financially demanding. Luckily for home buyers in the City of Arlington, there will now be access to the Mortgage Credit Certificate Program.

Any financial help when making a purchase the size of a home is a big help, and Arlington residents now have this additional support available when looking to buy. The credit does not clash with standard deductions on federal income taxes, either, so the two can be applied together for an even bigger opportunity to save some money.

The program offers a non-refundable tax credit annually with a value based on the lesser between $2,000 or 30% of the yearly interest on the mortgage for families buying homes in Arlington. Participating families must have a maximum household income of $85,029 for households of two or fewer, and $97,794 for larger families looking to buy homes in an area that isn’t targeted.

For houses that are in targeted areas, the same income maximums are $91,200 and $106,400.

Applicable houses cannot be priced higher than $356,046 in non-targeted areas and cannot be priced higher than $435,167 in targeted areas.

Home buyers interested in receiving the credit must sign up for the program during the mortgage application process. The program in Arlington will limit participation to a set time period, and funds will be available on a first-come, first served basis.

Check to see if you and your family can sign up for the MCC Program and apply for the credit, and read more about the Arlington program in general by checking the Homeowner Assistance link on the Arlington website at www.ArlingtonTX.gov/housing.

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