Tucson Industrial Development Authority Launches New Mortgage Credit Certificate Program

The Industrial Development Authority of the City of Tucson recently launched the 2020 Mortgage Credit Certificate (MCC) Program, administered by Advantage Housing Services LLC, to help first-time homebuyers become homeowners. The MCC Program is designed to reduce a first-time homebuyer’s federal income tax bill by providing an annual dollar-for-dollar federal tax credit of 40 percent of the mortgage interest paid, up to $2,000.

Homeowners receive the tax benefit every year until they move or sell the home. Although the program generally serves first-time homebuyers, non-first-time homebuyers purchasing in designated “target areas” may also qualify if they are purchasing their primary residence. Income and purchase-price limits also apply.

For more information, call (520) 882-5591, ext. 126, or email Karen Valdez at kvaldez@bdfc.com.