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Single-Family Bonds
Currently, Single-family bonds are unavailable through the Austin Housing Finance Corporation. The AHFC exchanged its single-family bond authority for a Mortgage Credit Certificate (MCC) Program which assists first-time homebuyers. Opting for the Mortgage Credit Certificates (MCC) provides greater benefits to the homebuyers and are not interest-rate sensitive.
Mortgage Credit Certificates (MCC) are tax credits that reduce the federal income taxes of qualified buyers purchasing a qualified residence. A family's annual tax savings could be as much as $2,000 per year. This means the homebuyer has up to $2,000 per year of spendable cash to afford a home or have a reduced mortgage payment. To learn more about Mortgage Credit Certificates.
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