Special Mortgage Loan Program Helps Teachers, Police Officers and Public Servants Purchase Homes

There is a new loan program aimed at assisting teachers, police officers, firemen, EMS personnel, correction officers, school nurses, teacher’s aides, librarians, school counselors and county jailers to purchase a home.

This program is not for investors but for those who will purchase and occupy a home for at least nine years.

It’s a home buying program specifically designed to save money for public servants resulting in an annual, not to exceed, $2000 tax credit for the life of the loan!

The Mortgage Credit Certificate allows the homebuyer, if there is a tax liability, the benefit of a dollar-for-dollar reduction of their tax bill.

The program enables the homeowner to claim a tax credit of 35% of annual interest paid, not to exceed $2000 per-year, for the life of the loan.

The Mortgage Credit Certificate allows the lender to qualify for more home or to get approved if they have been denied in the past.

The homebuyer can combine the Mortgage Credit Certificate program with the current first-time home buyer’s $8,000 tax credit resulting in a a credit saving of $10,000 in 2009!

The $8,000 tax credit program expires on November 30, 2009 so it is important to buy your home prior to that date. If you act quickly, there is still time to shop for and close on a home. Call me for details.

With low interest rates and the $8000 tax rebate program, there has never been a better time to become a home owner!

If the Mortgage Credit Certificate borrower sells his house within nine years, makes a profit and if his income has greatly increased, the homeowner would have to pay back a % depending on what year he sells.  The penalty decreases every year.

For more details and to be referred to a Mortgage Credit Certificate lender, contact me @ 713-818-2404.