The NC Home Advantage Tax Credit could make your new homes an attractive option for first-time buyers (those who haven't owned a home as their principal residence in the past three years) and military veterans who are eligible for a Mortgage Credit Certificate (MCC). With an MCC, newly built homes are eligible for a tax credit up to 50 percent of the annual interest paid, saving your buyers up to $2,000 per year on their federal income taxes for every year that they occupy their home as the primary residence.
An MCC is used in conjunction with a 30-year fixed rate mortgage, including FHA, USDA, VA and conventional loan types. Eligible buyers can combine an MCC with our NC Home Advantage Mortgage™ with up to 5 percent down payment help for even bigger savings. (MCCs cannot be combined with the NC 1st Home Advantage Down Payment.) We offer MCCs through participating lenders statewide.