“When I'm not working my normal job, I'm showing and working with my horses. They are my world,” says Gidget Maxwell. That’s why privacy, space for her horses to run around and easy access to the horses were some of the things Maxwell was looking for in her home. She got her wish in June 2015 when she moved into her new home in New Market.
Maxwell purchased her home with the help of a Mortgage Credit Certificate (MCC) offered by the Alabama Housing Finance Authority. An MCC reduces the amount of federal income tax homebuyers must pay, which in turn frees up income to qualify for a mortgage. Borrowers can claim a tax credit up to 50 percent of the mortgage interest paid per year, capped at $2,000 annually. It is a dollar-for-dollar reduction against a borrower's federal tax liability. She says, “I needed to stay within a certain number for my monthly payment and an MCC made that possible.”
Maxwell found out about MCC’s through her lender, Chad Cantrell at Starkey Mortgage. A multi-award winner for production volume, Cantrell was knowledgeable about AHFA’s different homeownership programs since Starkey Mortgage is an approved lender for both MCCs and AHFA’s Step Up program. Cantrell has been in the mortgage business since June 2006 and says, “One of the biggest rewards of my job is seeing the joy on someone’s face as they sign the documents at closing to receive the keys to their new home.”
No doubt that same joy was evident on Maxwell’s face. She says, “Being a homeowner means a lot to me. I feel stronger as a woman, very independent. I’m very blessed and thankful to have this opportunity come into my life, have the horses close, and have a shorter commute to work – and an MCC really made that possible for me.”