City of Dallas HFC Mortgage Credit Certificate Program

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City of Dallas HFC Mortgage Credit Certificate Program is a a federal tax credit program that entitles you to take a federal income tax credit equal to thirty-five percent (35%) of the annual interest you pay on your home mortgage, up to a maximum of $2,000 per year. Because the MCC reduces your federal income taxes and increases your net earnings, it is a great help in qualifying for your first home mortgage.

View the Capital Area HFC MCC Program Fact Sheet to learn more on how to qualify, how to apply, program limits and restrictions.

Please contact FirstSouthwest Company at 214-953-4176 or fschousing@firstsw.com for additional program information.

Program Fees:
MCC Application Fee – $100
MCC Closing Package Review Fee – $250
MCC Issuance Fee – 1% of the mortgage loan amount

The application fee is $ 100.

How a Homebuyer Qualifies:

Homebuyer must purchase a home within the City of Dallas, Texas.
Homebuyer could not have owned a home in the last three years as their primary residence unless purchasing a home in a Targeted Area* or the homebuyer is a Qualified Veteran.
Homebuyer’s household income must not exceed the maximum limits* set by the Program below: $67,500 for 1 – 2 occupants; $77,625 for 3 or more occupants
The purchase price cannot exceed $250,200.Targeted Areas allowing increased income and purchase price limits may apply. Ask your lender for details.
Homebuyer must occupy the home as their principal residence.
Homebuyer must apply for the MCC through a participating lender.

Resource:

City of Dallas Housing Finance Corporation Mortgage Credit Certificate (“MCC”) Program