First-Time Home Buyers are individuals or households entering the real estate market to purchase a home for the first time or after an extended period of renting. Various programs and incentives often exist to assist these buyers, particularly those who meet specific criteria such as income limits.
Tax-exempt securities issued by municipal and state authorities to support low-interest rate mortgage loans for qualified individuals, typically first-time home buyers.
A Mortgage Credit Certificate (MCC) enables a borrower to claim a portion of the mortgage interest paid as a credit against federal income tax, helping first-time home buyers by reducing their overall tax liability.
