Finance
The Texas Mortgage Credit Certificate (MCC) program provides qualifying homebuyers with:
AA direct cash payment at closing
BA federal income tax credit equal to a percentage of the annual mortgage interest paid✓ Correct
CBelow-market interest rates on conforming loans
DPMI cancellation benefits
Explanation
The MCC program (administered by TDHCA) converts a portion of the mortgage interest paid annually into a direct federal income tax credit. This reduces the buyer's tax liability, effectively reducing the cost of homeownership.
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