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550 East 6th Street
Beaumont, CA 92223

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Posted on: May 21, 2018

Are you or someone you know looking to purchase a home in Beaumont?

Are you or someone you know looking to purchase a home in Beaumont? Be sure to explore Beaumont’s Mortgage Credit Certificates (MCC) Program through the Riverside County Economic Development Agency!
 
On Tuesday, May 15, 2018, the Beaumont City Council approved the continued participation in the program which entitles qualified home buyers to reduce the amount of federal tax burden on a home mortgage. This tax credit allows the buyer to qualify more easily for a loan by effectively increasing the stated income of the buyer. When underwriting a loan, a lender takes this potential increase in income into consideration and the borrower is able to qualify for a larger loan than would otherwise be possible.

 

The program can be used with all types of homes, including foreclosures, new and resale single-family and/or manufactured homes, and may be the “extra cushion” future homebuyers will need to purchase in the City of Beaumont. Learn more by visiting bit.ly/BMTmortgage   

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The Riverside County Board of Supervisors annually authorizes the County Economic Development Agency (EDA) to apply to the California Debt Limit Allocation Committee for an allocation of Mortgage Credit Certificates. The City of Beaumont has participated in the MCC Program since 2012. To date a total of ten homebuyers have utilized the MCC program to purchase a home in the City of Beaumont. 

 

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