First Time Homebuyers Tax Credit
Homeownership Subsidy
Virginia Housing
$0.00
An MCC is a dollar-for-dollar credit against your federal income tax liability equal to 10 percent of the annual mortgage interest you pay. The remaining 90 percent may still be taken as a tax deduction. The MCC is effective for the life of your mortgage, as long as you live in the home.
See https://www.vhda.com/BusinessPartners/Lenders/MCCFormsandDocuments/MCC-Program-Overview.pdf
See https://www.vhda.com/BusinessPartners/Lenders/LoanInfoGuides/Documents/VHDAFAQ.pdf
Yes
*Borrower's maximum net worth cannot exceed 50% of purchase price *Not available for refinances
Yes
Homebuyer Department
601 S. Belvidere Street Richmond, VA 23220
Homeownership@vhda.com