Finance (alternative)
Maryland's HomeCredit (MCC) program reduces a qualifying buyer's federal tax liability by allowing them to claim a credit of up to what percentage of annual mortgage interest?
A10%
B16%✓ Correct
C25%
D60%
Explanation
Maryland's HomeCredit Mortgage Credit Certificate typically provides a federal tax credit of up to 25% of the annual mortgage interest paid, reducing the buyer's federal tax liability dollar for dollar.
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