First-Time Homebuyer Program

Mortgage Credit Certificates
First time homebuyers interested in purchasing in Lake Forest may wish to apply for a Mortgage Credit Certificate (MCC). The MCC Program is a federal tax credit program that allows you to take a federal income tax credit of up to 15% of the annual interest you pay on your home. Because the MCC reduces your federal income taxes and increases your net earnings, it is helpful in qualifying you for your first home mortgage. The MCC is registered with the IRS, and it continues to decrease your federal income taxes each year for as long as you live in your home.


To qualify, a 1-2 person household may not earn more than $85,300 annually, and a 3 or more person household may not exceed $98,095. The maximum purchase price for a home is $665,088. You may not have owned a principal residence in the last 3 years, and you must occupy the home, condominium or townhouse. The administrator of this federal program is the County of Orange, and you must apply for the MCC through a participating lender.  
For an application and further detailed information, contact the National Homebuyers Fund (NHF) at 866-643-4968, or visit