Every year, you may claim a dollar-for-dollar reduction of income tax liability on 20 percent of the mortgage interest on your first mortgage, reducing the amount of federal taxes owed.
Borrowers must meet income and purchase price limits, as well as complete a CHFA approved first time homebuyer education class. CHFA FirstStep and CHFA FirstStep Plus loans may be subject to the (CHFA reimbursable) IRS Recapture Tax and may not be used in conjunction with the Mortgage Credit Certificate (MCC) program.
The CHFA HomeOpener Plus program includes the CHFA Second Mortgage Loan to assist with down payment and/or closing costs for a single family property. The programs offers market interest rates.
The first time homebuyer programs of MaineHousing are all especially designed to contribute to the achievement of its primary agency mission which is to "assist Maine people to obtain and maintain decent, safe, affordable housing and services suitable to their unique housing needs."
The Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.
Teach for America is a social venture that hires graduating seniors from some of the most selective colleges and offers them with five-week training courses before unleashing them for a minimum of two years in some of the country’s worst classrooms.