The Los Angeles County CDC Mortgage Credit Certificate Program offers qualified first time homebuyers in the County of Los Angeles a federal income tax credit. The federal credit can reduce potential federal income tax liability, creating additional net spendable income for qualified first time homebuyers to possibly use toward their monthly mortgage payment on a purchase of a home. The Los Angeles County CDC Mortgage Credit Certificate MCC Program enables qualified first-time homebuyers to convert a portion of their annual mortgage interest into a direct dollar-for-dollar tax credit on their U.S. individual income tax returns. The qualified first time homebuyer is awarded a tax credit of up to 20% of the annual interest paid on the mortgage loan. The remaining 80% of the mortgage interest will continue to qualify as an itemized tax deduction.

Compton is a city in southern Los Angeles County, California, United States,[11] situated south of downtown Los Angeles. Compton is one of the oldest cities in the county and on May 11, 1888, was the eighth city to incorporate. As of the 2010 United States Census, the city had a total population of 96,455.[12] It is known as the "Hub City" due to its geographic centrality in Los Angeles County.[11] Neighborhoods in Compton include Sunny Cove, Leland, Downtown Compton, and Richland Farms. The city is generally a working class city with some middle-class neighborhoods, and is home to a relatively young population, at an average 25 years of age, compared to the American median age of 35 (2010 data).

Sales Quarter Number Of Sales Current Median Price Previous Median Price Percent Change yearoveryear
4Q2017 806 $351,000.00 $318,500.00 10.2%
3Q2017 214 $355,000.00 $325,000.00 9.2%


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Loan Officer Thomas Johnston

Loan Officer Thomas Johnston | NMLS# 1583463; Arizona, California, Oregon, Texas and Washington

Thomas is your mortgage loan originator, who works side by side with a strong team that shares the same devotion to excellence.
Experienced, knowledgeable, and always up to date on the industry's latest products, Thomas strives to exceed the customers' expectations in each and every transaction.

Do you have any questions? Please call 866-610-6025


Agency Target vs Non-Target Tax Credit Household size: 1-2 Household size: 3+ Purchase Price Limits First Time Application Fee Property Type

Los Angeles County CDC Mortgage Credit Certificate MCC

Target
20%
$108,120
$126,140
$585,713
Yes
$300 each Application
SFR,Townhome & Condo
Non-Target 20%
$108,120
$126,140
$715,872
Yes
$300 each Application
SFR,Townhome & Condo

Compton is a city in southern Los Angeles County, California, United States,[11] situated south of downtown Los Angeles. Compton is one of the oldest cities in the county and on May 11, 1888, was the eighth city to incorporate. As of the 2010 United States Census, the city had a total population of 96,455.[12] It is known as the "Hub City" due to its geographic centrality in Los Angeles County.[11] Neighborhoods in Compton include Sunny Cove, Leland, Downtown Compton, and Richland Farms. The city is generally a working class city with some middle-class neighborhoods, and is home to a relatively young population, at an average 25 years of age, compared to the American median age of 35 (2010 data).


Connect with a Loan Officer

Loan Officer Thomas Johnston

Loan Officer Thomas Johnston | NMLS# 1583463; Arizona, California, Oregon, Texas and Washington

Thomas is your mortgage loan originator, who works side by side with a strong team that shares the same devotion to excellence.
Experienced, knowledgeable, and always up to date on the industry's latest products, Thomas strives to exceed the customers' expectations in each and every transaction.

Do you have any questions? Please call 866-610-6025

Other products available in the City of Compton



Los Angeles County CDC Mortgage Credit Certificate MCC is available in the following areas/cities