About MCC Programs

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Administration services provided by NHF

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.

Key features of an MCC

  1. An MCC allows a homebuyer to claim a federal income tax credit on some portion of the mortgage interest paid annually;
  2. An MCC has the potential to saving the homebuyer thousands of dollars over the life of the loan; and
  3. The anticipated tax credit can be considered when evaluating the homebuyer's qualifying income for the mortgage loan.

†The information provided on this page contains general highlights only. All NHF administered loan programs have eligibility requirements and other guidelines. See the Program Index for details.


 

additional 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…

 






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