Get significant tax savings for the life of your mortgage!
Visit www.IHDA.org for specific qualification details.
If you qualify for the HSCC tax benefit, you could receive immediate benefit and increase your take-home pay! Talk to your tax advisor about revising your employee withholding to reduce the federal taxes withheld in an amount comparable to your annual HSCC tax credit.
(For illustrative purposes only)
|If your annual mortgage interest is:||$5,000||$10,000||$15,000|
|Illinois HSCC Tax Credit will be:|
(20% of annual mortgage interest paid)
The HSCC tax benefit continues over the life of the loan.^ The amount of the tax benefit reduces as your mortgage interest decreases over time.
Call our Mortgage Specialists today at 888-897-2276!
*For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return. Please consult your tax advisor regarding interest deductibility. The Illinois Home Start Credit Certificate does not currently have an expiration date. ^Use this mortgage credit for up to 30 years or as long as the home is your primary residence. When refinancing, the HSCC can be re-issued by contacting IHDA.