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.

Monterey Park is a hillside suburban city in Los Angeles County, California, 7 miles (11 km) east of Downtown Los Angeles. The city's motto is "Pride in the past, Faith in the future". Monterey Park is part of a cluster of cities (Alhambra, Arcadia, Temple City, Rosemead, San Marino, and San Gabriel in the west San Gabriel Valley) with a growing Asian American population, making up 66.9% of its resident population at 2010; 47.7% of its residents are of Chinese descent, the largest concentration of Chinese Americans of any municipality in the United States.[not in citation given][citation needed] According to the 2010 Census, the city had a total population of 60,269. Monterey Park has recognized as "America's Best Places to Live 2017" ranked at #3 by Money magazine and three local news TV stations.

Sales Quarter Number Of Sales Current Median Price Previous Median Price Percent Change yearoveryear
4Q2017 445 $600,000.00 $576,000.00 4.2%
3Q2017 114 $612,000.00 $596,500.00 2.6%


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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

Alhambra is a city located in the western San Gabriel Valley region of Los Angeles County, California, United States, approximately eight miles from the Downtown Los Angeles civic center. It was incorporated on July 11, 1903. As of the 2010 census, the population was 83,089. The city's ZIP codes are 91801 and 91803 (plus 91802 for P.O. boxes).


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 Monterey Park, Los Angeles County CDC Mortgage Credit Certificate MC



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