Fifteen million dollars available for first-time homebuyers

SAN DIEGO - Local first-time homebuyers may be able to take advantage of state funds awarded to the County of San Diego Department of Housing and Community Development.

The department received $15 million for the Mortgage Credit Certificate, or MCC, program, in addition to almost $11 million awarded to Housing and Community Development earlier this year.

An MCC allows eligible homebuyers to reduce their federal income tax by up to 20 percent of the annual interest paid on a mortgage loan. With less being paid in taxes, the buyer’s net earnings increase, enabling that person to more easily qual...