- MCC program provides homebuyers with the opportunity to buy a home by keeping more money in their pockets each month.
- MCCs reduce homebuyers’ federal tax liability, increasing the amount of disposable income available to purchase a home.
- MCC has the potential of saving the MCC holder thousands of dollars over the life of the loan.
- Homebuyer can claim the MCC as long as they occupy the home purchased as their primary residence – it is the program that keeps on giving.
- An MCC can be used with almost any type of mortgage, including adjustable rate mortgages. However, it cannot be used with tax-exempt bond programs.