Blog Category: mortgage write off

taxes

Tax Credits When Buying In Washington DC?

When buying a home in Washington, D.C. you should work with a lender familiar with Mortgage Credit Certificates (MCC’s) and who is participating in the MCC Program.  A Mortgage Credit Certificate allows eligible borrowers to claim a Federal Tax Credit of 20% of the mortgage interest paid on the mortgage during each calendar year.  The remaining 80 percent of the mortgage interest paid for that year may still be claimed as a tax deduction. Read More