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Daymark Realty -  Coastal Credit Union Saves You Money When You Buy or Sell - 919-882-6700Daymark Realty - Coastal Credit Union Saves You Money When You Buy or Sell - 919-882-6700

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Home Advantage Tax Credit (formerly known as MCC)

The Home Advantage Tax Credit program (formerly known as the Mortgage Credit Certificate) is a benefit offered through the North Carolina Housing Finance Agency.  Qualified borrowers can deduct up to the first $2,000 of their mortgage interest as a tax credit (instead of a deduction).  A tax credit is far more generous than a tax deduction.  For example, if you are taxed at a rate of 25% a tax credit is four times more valuable than a deduction.

Without the Home Advantage Tax Credit: $7,500 mortgage interest paid with an income tax rate of 25%

With an income tax rate of 25%, a $7,500 tax deduction will reduce your tax liability by approximately $1,875 or (0.25 x $7500).

With the Home Advantage Tax Credit: $7,500 mortgage interest paid with an income tax rate of 25% and the Home Advantage Tax Credit

Tax credits do not rely on your income tax rate.  Instead, it is a dollar-for-dollar reduction of your tax liability.  In this example, the first $2,000 are taken as a tax credit and the remainder ($7,500 – $2,000 = $5500) can used as a deduction (see previous example).  The total potential tax saved is therefore $2,000 + (5,500 x 0.25) = $2,000 + $1,375 = $3,375.  Based on a 25% taxable rate, using the Home Advantage Tax Credit reduces your tax liability by an extra $1,500 or $125/month!  That extra money can be used to calculate how much you can borrow, and could make the difference between a loan approval and a denial.

Get the Home Advantage Tax Credit Program Guide here.

Properties

0 Halifax Road
$35,000
  • 6,534 Sq Ft
  • 0.15 Acres

0 Halifax Road Louisburg, North Carolina

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1287 Schaub Drive J
$179,000
  • 2 Bedrooms
  • 2 Bathrooms
  • 1,039 Sq Ft

1287 Schaub Drive J Raleigh, North Carolina

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2402 Cynthia Drive
$318,000
  • 3 Bedrooms
  • 2 Bathrooms
  • 1,203 Sq Ft
  • 0.22 Acres

2402 Cynthia Drive Durham, North Carolina

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11249 Jeffreys Lane
$495,000
  • 169,448 Sq Ft
  • 3.89 Acres

11249 Jeffreys Lane Wake Forest, North Carolina

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5421 Brandy Bay Road
$500,000
  • 3 Bedrooms
  • 3 Bathrooms
  • 2,593 Sq Ft
  • 0.1 Acres

5421 Brandy Bay Road Raleigh, North Carolina

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2635 High Plains Drive
$687,000
  • 5 Bedrooms
  • 4 Bathrooms
  • 3,101 Sq Ft

2635 High Plains Drive Fuquay Varina, North Carolina

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100 Wentbridge Road
$789,999
  • 4 Bedrooms
  • 3 Bathrooms
  • 2,901 Sq Ft
  • 0.28 Acres

100 Wentbridge Road Cary, North Carolina

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3117 Woodgreen Drive
$1,100,000
  • 4 Bedrooms
  • 4 Bathrooms
  • 2,544 Sq Ft
  • 0.39 Acres

3117 Woodgreen Drive Raleigh, North Carolina

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About Daymark Realty

Daymark Realty, wholly owned by Coastal Credit Union, offers exceptional savings and service whether you are buying or selling real estate.  As a trusted, local partner for 50 years, Coastal Credit Union has consistently delivered affordable financial services to families and individuals across the Triangle.   Through Daymark Realty, we offer comprehensive real estate brokerage services with lower fees and more services for significant savings.

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Daymark Realty

1000 St Albans Drive Raleigh, NC 27609

(919) 882-6700
info@daymarkrealty.com
© 2025 · Privacy Policy · Equity Framework


© 2025 · Equity Framework