SETH "Extra Credit" Texas Mortgage Credit Certificate (MCC)

Type

MCC (Mortgage Credit Certificate)

Special Requirements

First Time Homebuyer

ReviewMyMortgage (RMM) is in no way affiliated with or endorsed by the Southeast Texas Housing Finance Corp. (SETH) or any of its subsidiaries. The program is only available in the counties of Austin, Brazoria, Chambers, Liberty, Matagorda, Walker, Waller or Wharton, Texas, or the Cities of Baytown, Deer Park, Dickinson, La Marque, La Porte, League City, Pasadena, Santa Fe, Shoreacres, Texas City or Tomball, Texas.


Benefit

Up to 20% of interest per year

Start Date

07/20/2022

End Date

Permanent

How it works

SETH's "Extra Credit" Texas Mortgage Credit Certificate (MCC) is an interest tax credit that is used to reduce your federal income tax responsibility each year. It is specifically for first time homebuyers and can be paired with either the "5 Star" or "GoldStar" down payment assistance programs. Additionally, the savings from the tax credit certificate can help the borrower qualify for their mortgage.

Loan Programs that can be used with this special offer
SETH Conventional Purchase - Median Income

Best For: First Time Homebuyers, Low Down Payments

Conventional option for Texas residents seeking down payment help and making above 80% AMI, from the Southeast Texas Housing Finance Corporation.

Min. Credit Score

640

Min. Down Payment

3%

Max. Loan Amount

$726,200

SETH VA Purchase Loan

Best For: First Time Homebuyers, Low Down Payments

VA program for Texas Vets and active-duty military seeking down payment assistance, offered by the Southeast Texas Housing Finance Corporation (SETH).

Min. Credit Score

640

Min. Down Payment

0%

Max. Loan Amount

$726,200

SETH USDA-RD Purchase Loan

Best For: First Time Homebuyers, Zero Down

USDA program for Texas residents seeking down payment assistance, offered by the Southeast Texas Housing Finance Corporation (SETH)

Min. Credit Score

640

Min. Down Payment

0%

Max. Loan Amount

$726,200

SETH Conventional Purchase - Low Income

Best For: First Time Homebuyers, Low Down Payments

Conventional option for low income Texas residents seeking down payment assistance, offered by the Southeast Texas Housing Finance Corporation (SETH).

Min. Credit Score

640

Min. Down Payment

3%

Max. Loan Amount

$726,200

SETH FHA Purchase Loan

Best For: First Time Homebuyers, Low Down Payments, Easy Qualification

FHA program for Texas residents seeking down payment assistance, offered by the Southeast Texas Housing Finance Corporation (SETH).

Min. Credit Score

640

Min. Down Payment

3.5%

Max. Loan Amount

$472,030

SETH GoldStar Program

Best For: First Time Homebuyers, Low Credit Scores, Zero Down

The SETH GoldStar Program provides up to 7% down payment and closing cost help as a forgivable second mortgage.

Min. Credit Score

620

Min. Down Payment

0%

Max. Loan Amount

No Limits

SETH 5 Star Program

Best For: First Time Homebuyers, Low Credit Scores, Zero Down

The SETH 5 Star Program provides up to 5% down payment and closing cost assistance for your home purchase.

Min. Credit Score

640

Min. Down Payment

0%

Max. Loan Amount

No Limits

* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers.

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