Community Housing Improvement Program (CHIP) - Not currently accepting applications as of 06/18/2013.
About the Program
A Mortgage Credit Certificate (MCC) provides a double bonus. It increases the loan amount you qualify for and it increases your take-home pay. The MCC entitles you to take a federal income tax credit of fifteen percent (15%) of the annual interest you pay on your home mortgage. Because the MCC reduces your federal income taxes and increases your net earnings, it is a great help in qualifying for your first home mortgage. But it doesn't stop there. 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.
MCC funds are usually awarded to the Agency early in the year and may be depleted within a few months and/or may only be available for targeted "low income" census tracts. Click JPEG or PDF to view and/or download a map of eligible census tracts, shown in purple. Non-eligible census tracts are shown in brown.
Who to Contact
For information about the MCC program, please contact Affordable Housing Applications (AHA):
4579 Maple Avenue, Suite #1
La Mesa, CA 91941
TOLL FREE (800) 591-3111 / LOCAL (619) 469-0270