Good News For Homebuyers

Once again, Hawaii USA FCU is a participating lender in the State of Hawaii’s Mortgage Credit Certificate (MCC) program. Members with low to moderate income qualify to take advantage of federal mortgage tax credits that help reduce the cost of buying a home.

This year’s $20 million in credits provide homebuyers a federal income tax reduction equal to 20% of mortgage interest they pay every year, effectively letting buyers keep more income to pay for a larger mortgage. Also, 80% of the interest paid for a home loan is typically still deductible.

To qualify for the mortgage tax, buyers must reside in the home being purchased and cannot have owned a home in the previous three years. There are income and sales price limitations. If you are interested in learning more about the MCC program please visit any one of our 10 branches where you can be referred to one of our Mortgage Consultants or view the State of Hawaii’s MCC Brochure.