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1. Who is eligible for NCTHFC programs?
2. What is NCTHFC's Eligible Loan Area?
3. Is there a residency requirement for program participation?
4. What is the definition of a first time home buyer?
5. What is meant by primary, or principal, residence?
6. I've heard that only homes in economically distressed areas qualify under these programs. Is that true?
7. How do I apply for a mortgage loan under the programs?
8. Can I buy a second home using this financing?
9. In the event I sell the home, do I have to pay back any portion of the grant?

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1. Why does the North Central Texas Housing Finance Corporation (NCTHFC) exist?

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1. What is an MCC?
2. What is the difference between a “tax credit” and a “tax deduction”?
3. How does the Homebuyer realize the increase in “home-buying power”?
4. What happens if a qualified Homebuyer cannot use the entire amount of the MCC credit?
5. Will a Homebuyer qualify if they are not a First-Time Homebuyer?
6. Can a Homebuyer apply for a MCC after they have closed on their mortgage?
7. What loans types can be used with the MCC?
8. Does the Mortgage Credit work like the Earned Income Credit?
9. Does a Homebuyer lose their credit if they refinance their mortgage?
10. How does the Mortgage Credit Certificate work?
11. How do you figure the tax credit the Homebuyer can receive?
12. Where does a Homebuyer obtain an MCC?
13. How long does the credit certificate last?
14. What are the MCC requirements?
15. What are income and purchase price limits?
16. What kinds of properties are eligible?
17. How does a homebuyer apply for an MCC?