First Time Home Buyer

At Hallmark Home Mortgage there are many First Time Homebuyer options and programs available to make your dream of homeownership a reality...

1. MCC- Mortgage Credit Certificate- A MCC is a federal tax credit designed to assist a borrower seeking affordable homeownership that reduces federal tax liability of the borrower. This tax credit allows an eligible borrower to write off a portion of the annual interest paid on the mortgage each year they occupy the home as their primary residence- up to $2,000/year. This tax credit is based on the first mortgage loan amount.
2. Home Possible- Benefits for Your Borrowers- Home Possible Mortgages provide your borrowers with:
   1. Stable monthly mortgage payments with fixed-rate mortgages
   2. Flexible closing cost funding options
   3. Reduced mortgage insurance coverage levels
   4. No cash-out refinancing
3. My Community- 3% down conventional program for borrowers whose household income is below 120% of the HUD Median.