About MCC Programs |
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What is a Mortgage credit certificate (MCC)?
An MCC is an IRS tax credit that reduces the federal tax liability of qualified borrowers, thus having the effect of subsidizing the monthly mortgage payment.
The advantages of an MCC are two-fold. It increases the loan amount a borrower can qualify for and it can increase the borrower's after-tax income. The MCC entitles the qualified borrower to take a federal income tax credit. The tax credit is based on the mortgage interest paid annually. Because the MCC reduces the borrower's federal income taxes and increases his/her net earnings, it is a great help in qualifying for a home loan. The MCC is registered with the IRS, and it continues to decrease the borrower's federal income tax liability each year.
The information provided on this page contains general highlights only. All NHF administered loan programs have eligibility requirements and other guidelines. Please visit the Program Index for specific program guidelines. Homebuyers are encouraged to consult with a tax advisor regarding the impact of an MCC on their individual tax liability. |
Lender Resources |
Who administers the MCC?
MCC Programs listed on the NHF web site are administered by NHF.- NHF provides a variety of homeownership services to other housing finance agencies and housing related organizations. Services include everything from assisting with the initial structuring of a program and guidelines, to administration, compliance and recruiting and training lenders. Learn more…
