First Time Home Buyer Questions - Zillow Mortgage Advice

Me and my fianc? are planning on buying a home this year, possibly in the next couple months.

I am the only one working, and make around 60k. I plan on buying a home in the range of 200 - 225k. I have 20% to put down.

My questions are the following. Would anyone not recommend applying for the MCC tax credit? The cost for applying seems steep, but the tax benefit looks very beneficial.
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Also, I want to take advantage of everything benefit I can. Kyhousing has a down payment program called Neighborhood Down payment Assistance Program. It is a secondary mortgage, up to 10k, paying back at 1% for 30 years (10k taken away from the primary mortgage at 4% would save money by paying it back at 1%). Although I have a good down payment saved, I meet all the requirements listed on http://www.kyhousing.org/page.aspx?id=297.

I feel a little odd asking a mortgage professional about this program, as I do have a down payment saved up. Has anyone had any experience with one of these programs / had people apply for them who have a down payment saved up?

Thanks,

Source: http://www.zillow.com/advice-thread/First-Time-Home-Buyer-Questions/500333/

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