Mortgage Credit Certificate (MCC)

A Mortgage Credit Certificate (MCC) enables a first-time homebuyer to claim a tax credit on their federal tax return for a portion of the mortgage interest paid during a tax year, effectively reducing the first-time homebuyer’s cost of borrowing. Coupling an MCC program with other lender loans or MHDC’s Next Step Loan Program can provide an important cost saving tool for first-time homebuyers. The credit will have a rate of up to 45% of the mortgage interest paid, for a maximum of $2,000.

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