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MCC Tax Credits

MCCs (Mortgage Credit Certificates) are offered by most major cities and counties. These are, for the most part, free tax credits for qualified home buyers. “Qualified” means they are under certain income limits, they are first time homebuyers, and they promise to remain in the home for a fixed amount of time, among other things.

The MCC credit allows buyers to get up to 15% of the mortgage interest they pay in a given year back as a direct tax credit. It is for the most part “free money” for qualified buyers, but the qualifying process does slow up escrows somewhat. Remember, these are “tax credits” (actual refunds), as opposed to deductions.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167