Mortgage Credit Certificates

A Mortgage Credit Certificate (MCC) is a special program that helps first-time homebuyers reduce their federal income taxes. It allows eligible borrowers to claim a tax credit equal to a percentage of their mortgage interest paid annually, directly decreasing their tax liability. This effectively lowers the overall cost of homeownership and can make mortgage payments more affordable. MCCs are typically offered through state or local housing agencies and are designed to promote homeownership for qualifying individuals or families.