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Income Calculation

 

  1. Introduction

  2. MCC is a Federal Income Tax Credit

  3. How the MCC Program Works

  4. Value of a Tax Credit vs. Tax Deduction

  5. Effective Interest Rate

  6. Benefits: Homebuyer

  7. Benefits: Lenders

  8. Income Limits

  9. Eligible Borrowers

  10. Household Size

  11. Income Calculation

  12. Annualized Income

  13. Acquisition Cost Limits

  14. Property Requirements

  15. Homebuyer Education

  16. First Mortgage Guidelines

  17. Recapture Tax

  18. Recapture Forms

  19. Steps 1-4

  20. Steps 5-8

  21. Use of the MCC

  22. MCC Reissuance

  23. Participant Lender Reporting

  24. How Do I Become a Participant Lender

  25. Where is the MCC Program Manual?