You can save about $150 a month -

up to $2,000 a year - with the

Odessa Housing Finance Corporation 

Mortgage Credit Certificate Program!

The Mortgage Credit Certificate is a tax credit that will reduce the federal income taxes of qualified buyers purchasing a qualified residence.

It's EASY. . .

1. Just take the amount of your loan,
2. Multiply it by your interest rate,
3. Calculate the amount of interest, then
4. Multiply that number by 35%. 

Example:

	35% MCC Credit
Loan amount	$120,000
Times loan interest rate	x 5.5%
Approximate Annual Interest	$6,000
Times MCC credit rate	x 35%
Maximum Approximate Annual MCC Savings	$2,000

Click to calculate your savings!

Participating Lenders:

These community minded lenders have chosen to participate in  the Mortgage Credit Certificate Program and have been trained to use the program:

To Qualify for the MCC:

There are limits on the maximum income you can earn and the maximum purchase price of the home to obtain a Mortgage Credit Certificate.  Remember, you also must be able to qualify for a loan. 

Maximum Income Limits:  

Additionally, your adjusted gross income for last year must be $82,040 or less. 

(These numbers are subject to change annually.)  

Maximum Purchase Price Limits:

Non-Targeted Area		Targeted Area*
$243,345		$298,155

A Targeted Area is a census tract in which 70 percent or more of the families have an income which is 80 percent or less of the statewide median family income, or an area designated as an area of chronic economic distress. Such areas are not subject to the prior home ownership restriction.

List of targeted census tracts  Map of targeted census tracts

The buyer must  purchase and live in the  residence and property must be within the city limits of Odessa, TX.