The attached income limits apply to all MCC Tax Credit Program applications. The attachment shows the maximum income limits by household size for non-targeted and targeted areas.
Depending on the family size, there may be differences in the income limits. These updated income limits are effective for new reservations received on or after July 1, 2015.
The updated income limits are attached and will also be posted, July 1, on CalHFA’s website at: www.calhfa.ca.gov/homeownership/limits/ .
When qualifying a borrower for a CalHFA mortgage loan with one or more loans, the more restrictive limits must be applied.
MCC used for Credit Qualifying
The MCC Credit may be used for credit qualifying purposes per investor guidelines, both with and without CalHFA lending programs.
CalHFA thanks you for your business and we look forward to continuing to support affordable housing needs.
For questions about this bulletin, contact CalHFA Single Family Lending by phone 916.326.8033; by fax 916.324.6424; by email at sflending (at) calhfa.ca (dot) gov. In addition, you can always visit CalHFA’s website at: www.calhfa.ca.gov or Single Family Lending Section directly at www.calhfa.ca.gov/homeownership.