Recently VHDA (Virginia Housing Development Authority) announced a new product to help engage new homebuyers from renting to purchasing. The MCC (Mortgage Credit Certificate) allows 1st time homebuyers to reduce the amount of federal income taxes owed, by means of tax credit. The MCC is a dollar for dollar tax credit that could help new homeowners save thousands of dollars by reducing the federal tax amount owed.

Take advantage of every offer available for 1st time home buyers. Look to mortgage consultants who are educated and ready to assist in finding every deal out there. From VHDA offers, to grant programs dedicated just for new homeowners, there are plenty of opportunities out there.