Tax Credit

You missed the tax credit? Good news!

We have a replacement

Mortgage Credit Certificate. This is a credit not a deduction.

If you compare this to the $8000 credit that was offered, over
the long-term the MCC is a better option.

Homebuyer will receive 20% of the interest paid on their

mortgage in a credit over the life of the loan. Dollar for
Dollar!
 Tax Credit
Loan Amount $200,000.00
Interest Rate 5%
Interest paid...

1st Year $9864 20% = $1,972

5th Year $9204 20% = $1,840
10th Year $8148 20% = $1,629

Total credit for the first 5 years would be $9,537.00

Total credit for the first 10 years would be $18,126.00

Unused credit can carry-forward up to 3 years.

This can be used with Conventional, FHA, VA and USDA loans, Fixed or
Adjustable rate options.

A one-time fee of $650 to the Washington State Housing Finance Commission

Credit may be reissued if you refinance at a later time.

 Tax Credit
Payment Savings
Interest Rate 5%
Term 30 years
Monthly P&I $1073
Monthly Credit $164
Effective Monthly P&I $909

Homebuyer can file amended W-4 to increase withholding to receive the

$164 in monthly take home pay.

Guild will add the $164 a month to household income for qualifying. This
will be equal to an additional $20,000.00 to $40,000.00 in buying power
depending on down payment.

Homebuyer will still be able to deduct the remaining 80%

interest paid and take all other qualified mortgage deductions.
 Tax Credit
Eligible Homebuyer
Must be a 1st time home buyer - Owner Occupied

Income Limits King/Snohomish

1-2 person $90,000.00 / 3+ person $97,000.00

Income Limits Pierce

1-2 person $75,000.00 / 3+ person $87,000.00

Purchase Price Limits

King $450,000.00 / Snohomish $370,000.00 / Pierce $370,000.00

Available in all counties / Income and purchase price limits will vary
 Tax Credit
Loan Amount $200,000.00
Interest Rate 5%
Interest paid...
1st Year $9864 20% = $1,972
5th Year $9204 20% = $1,840
10th Year $8148 20% = $1,629

Total credit for the first 5 years would be $9,537.00

Total credit for the first 10 years would be $18,126.00

Unused credit can carry-forward up to 3 years.

This can be used with Conventional, FHA, VA and USDA loans, Fixed or
Adjustable rate options.

A one-time fee of $650 to the Washington State Housing Finance Commission

Credit may be reissued if you refinance at a later time.
 Tax Credit
Payment Savings

Loan Amount $200,000

Interest Rate 5% Term 30 years
Monthly P&I $1073
MCC Rate 20% Monthly Credit $164
Effective Monthly P&I $909

Homebuyer can file amended W-4 to decrease withholding and they will
receive the $164 in monthly take home pay.

Depending on program, Guild mortgage will add the $164 a month to the
Household income for qualifying. This will be equal to an additional
$20,000.00 to $40,000.00 in buying power depending on down payment
and program.

Homebuyer is able to deduct the remaining 80%

interest paid and take all other qualified mortgage deductions.
 Tax Credit

Eligible Homebuyer
Must be a 1st time home buyer - Owner Occupied

Income Limits King/Snohomish

1-2 person $90,000.00 / 3+ person $97,000.00

Income Limits Pierce

1-2 person $75,000.00 / 3+ person $87,000.00

Purchase Price Limits

King $450,000.00 / Snohomish $370,000.00 / Pierce $370,000.00

Available in all counties / Income and purchase price limits will vary
This is not to replace
the current tax
benefit of home
ownership but
to add to it!
 WASHINGTON STATE
HOUSING FINANCE
COMMISSION PROGRAMS

http://www.wshfc.org