Tax credit can help put home ownership in reach

Mel Schuckenbrock always said that if he bought a house in Washington, it would have to have a view of Mount Rainier.

In 1987, after looking at more than a dozen homes that just weren’t right, Schuckenbrock found the perfect three-bedroom rambler in Tacoma. From a window in the back, there was the Mountain.

At the time, Schuckenbrock was married with two small children. He had just started a professional job after leaving the military as an infantry officer.

With help from a veterans loan and the Mortgage Certificate Credit Program, Schuckenbrock was able to afford his dream home, which cost $63,500.

“Without the MCC program, I wouldn’t have qualified for the payments,” said Schuckenbrock, now a loan officer for Viking Bank in Tacoma.

The program allows qualifying first-time homeowners to claim a federal tax credit of up to 20 percent of their annual mortgage interest paid. (Read More)

Source: The Seattle Times: Real Estate

Tags: Home Buying, Home Selling, Mortgages, Mortgage, Mortgage News, Real Estate, Real Estate Tips, Real Estate News