The program works by allowing you to claim up to 20% of your paid mortgage interest each year as a tax credit on your Federal IRS tax returns. And the remaining 80% of paid mortgage interest is still eligible for the home mortgage interest deduction (I am not an accountant, be sure to contact your accountant to get all of your accounting questions answered). This means that each year you live in your home you may claim a dollar to dollar reduction of income tax liability on 20% of the mortgage interest you paid on your first mortgage. As a direct result you will have to pay less Federal tax.

This program is available for all first time home buyers purchasing a primary residence. If you are not a first time home buyer you may still qualify for this program by purchasing a home in a targeted Colorado areas. Eligible veterans can also take advantage of the money saving program by purchasing in targeted or non-targeted areas.

Because this program does have some guidelines and not everyone will qualify I recommend that you contact me with your situation and desired area you’d like to purchase a home to find out if you can benefit from the Mortgage Credit Certificate Program. If you are a first time home buyer there are no limitations on where you can purchase a home.

The ESMP has two methods of helping you, the homeowner, save money. The first method is by giving you an opportunity to receive one or more of the following; discounted mortgage rates, reduced loan fees, assistance with closing costs, or other benefits reducing the cost of the mortgage. And if these potential savings weren’t enough by taking advantage of the ESMP you will see at least a 20% reduce in home energy use, which will result in lower monthly utilities. So how does it work?

In order to qualify for the ESMP you must either purchase an Energy Star qualified home or finance energy-saving improvements to your home. Either method will give you access to the great loan saving benefits of the ESMP program and help you reduce the carbon footprint left by your home.

Sound too good to be true? Contact me today and see if your home qualifies or what you can do to make your home qualify! This program truly is a win-win scenario, you save money and you upgrade your home to be more energy efficient. Make the investment today and start seeing the money savings immediately.

All of Veterans United Realty recommended real estate agents are selected based on their experience serving the unique needs of military families. In addition they are pre-screened based on a myriad of factors – including customer service, buyer satisfaction and experience with military homebuyers. All of the agents in our network are the top professionals in their areas.

PurchasePower Cash Bonus… what is it?

Get up to $500 cash after closing. Using Veterans United Realty not only gives you the advantage of working with an experienced real estate agent who’s dedicated to finding you the best home for your needs, but you’ll also get a great housewarming gift — up to $500!

Contact me today for more Details!