Texas Real Estate Brokerage Sales Apprentice Education (SAE) Practice Exam

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What is a key component of TSAHC's assistance for first-time homebuyers?

  1. Down payment assistance

  2. Mortgage Credit Certificate (MCC)

  3. Zero interest loans

  4. Home inspection services

The correct answer is: Mortgage Credit Certificate (MCC)

A key component of the Texas State Affordable Housing Corporation (TSAHC) assistance for first-time homebuyers is the Mortgage Credit Certificate (MCC). This program provides a tax benefit to first-time homebuyers by allowing them to claim a tax credit for a portion of the mortgage interest paid on their home loans. This effectively reduces the homebuyer’s federal income tax liability, making homeownership more affordable. The MCC helps to make homeownership accessible by providing financial relief that can directly enhance the buyer's ability to qualify for a mortgage or afford a higher-priced home. By lowering the overall cost of home payments through tax credits, the MCC makes it an essential tool for fostering sustainable homeownership among first-time buyers in Texas. While down payment assistance, zero interest loans, and home inspection services are notable supports the TSAHC may offer, the unique tax benefit of the Mortgage Credit Certificate distinguishes it as a crucial component of the assistance program designed specifically for first-time homebuyers.

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