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Tim Bradford 
Loan Officer 
VM/Cell (216) 324-8113 
FAX 440-884-5034 

             

  AMMC_Matrix.xls
OHIO MCC Tax Credit Calculator
The purpose of this calculator is to compute the MCC (Mortgage Credit Certificate) Tax credit on a Home Purchase. The table below shows the credit each period as well as the Cumulative Credits assuming only the standard Principle and Interest payments are being made. Any extra payments would reduce the amount of the MCC Tax Credit.
Additional Details on www.OhioHome.org website
IRS Form to take MCC Tax Credit
Loan Amount Monthly Payment
Rate of Interest Year 1- AVG Credit
Loan Term(Months) 360 Cost after Tax Credit
Tax Credit Rate *** Tax Credit Received when Taxes are Filed
Comparable Rate if Tax Credit was given Monthly --->
***( 30% for REO's -- 25% Target Areas -- 20% All Other )
MCC Credit is Limited to $2,000 per Year
       
Year Cumulative Interest Paid Possible Tax Credits**** Cumulative Credits
These number are believed to be correct based upon the information presented, however they are not guaranteed and you should consult your tax preparer to verify your eligibility under these programs.

 

Tim Bradford 
Loan Officer 
VM/Cell (216) 324-8113 
FAX 440-884-5034 

        

MB.803389.000
LO.007173.000

Tim Bradford -- OHIO MB.803389/LO.007173 ---- NMLS CO.142066/LO.250013
6363 York Road #300, Parma Heights, Ohio 44130

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