What is a Mortgage Credit Certificate?

A Mortgage Credit Certificate allows the homebuyer to claim a tax credit for some portion of the mortgage interest paid per year. It is a dollar for dollar reduction against their federal tax liability. Mortgage Interest Credit (MCC) is a non-refundable tax credit, therefore, the Homebuyer MUST have tax liability in order to take advantage of the tax credit.

Who is eligible to receive an MCC? The program is open to those individuals and families who:
• meet income and home purchase requirements;
• have not owned a home as primary residence in the past three (3) years;
• meet the qualifying requirements of the mortgage loan;
• will use the home as their principal/primary residence.

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Mortgage Credit Certificate Program (MCC)

How can your borrower...

1. Qualify for an additional $166 a month maximum?
2. Receive an additional $2,000 tax credit at the end of the year?
3. Pay a rate of 6% and it feel more like 4%?
4. Earn more income per month with a 1st time buyer program?
5. Receive an extra tax benefit for every year they own a home?
6. Reduce their monthly mortgage payment by $166 a month?
7. Buy a house for $0 out of pocket and still receive a Tax Credit?
8. Save at least $25,000 in interest over the life of their mortgage?
....with the MCC Program.

A Mortgage Credit Certificate Program (MCC) allows the homebuyer to claim a tax credit for some portion of their mortgage interest paid per year. It is a dollar for dollar reduction against their federal tax liability. The program is open to those individuals and families who:

• Meet income and home purchase requirements.
• Have not owned a home as a primary residence in the past 3 years.
• Meet the qualifying requirements of the mortgage loan.
• Will use the home as heir principal/primary residence.