What is a Mortgage Credit Certificate (MCC) Program?

The MCC program is a federal income tax credit program that entitles you to take a federal income tax credit equity to 30% of the annual interest you pay on your home mortgage, up to a maximum of $2,000 per year. This is a great help when qualifying for your first home mortgage and it continues to decrease your federal income taxes each year for as long as you owe amounts on your home mortgage.

How does the Down Payment Assistance Program work with MCC?

If you qualify for the MCC program, you may qualify for the Down Payment Assistance (DPA) program. The DPA provides first-time homebuyers with funds for down payment and closing costs in the form of a non-forgivable second lien in the amount of $7,500. Repayment is due when you sell, transfer, refinance or pay off your mortgage. The DPA is only available when participating in the MCC program. Click on the flyer below to read more.

Click here for Advancing the Dream of Homeownership flyer.

Click here to see a list a list of participating lenders.

Click here for the Invitation to Participate, the Program Summary and Lender Participant Agreement.