Mortgage Credit Certificate Program




A new exciting tax credit program is being offered to first time homebuyers in New York starting September 1, 2009. Issued by SONYMA,  the Mortgage Credit Certificates enable first-time homebuyers to convert 20% of their annual mortgage interest into a direct income tax credit on their Federal Tax Return for each year of the life of their loan.


Eligible Borrowers must:

Be a first time homebuyer as defined by SONYMA

Meet SONYMA Household Income Limit requirements

Occupy the home as their permanent residence

Not have used more than 15% of their current residence (or prior residence) for a business or commercial use in the past year.




If you plan your home closing between September 1, 2009 and November 30, 2009 you will be eligible to participate in the Federal First Time Homebuyer's Tax Credit too.

Call us at (518) 686-4952 or email us at info@martinezfamilyrealty.com to find out more and answer your questions!



Here is a link to some details of the program http://nyhomes.org/index.aspx?page=898