what is a mortgage credit certificate

Where do I find my MCC or Mortgage Credit Certificate.


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The mortgage interest credit helps lower-income individuals purchase and own their own home. If you qualify, you can claim this credit each year based on a portion of your home mortgage interest.

Eligibility requirements

  - You must have a mortgage credit certificate (MCC) from your state or local government. These certificates are issued as part of state and local government programs to help people buy a home. Contact your state or local housing finance agency for information on obtaining an MCC. Your lender might be able to tell you where to call to inquire about an MCC. You must do this before you get a mortgage and buy your home.

 - You must obtain a new mortgage for the purchase of your main home. Your main home is the home where you live (not a vacation home or other second home, such as a home you purchased for your parents).

 - The home must be located within the governing area of the state or local government agency that issued the certificate.

Limitations of this credit

 - The credit rate is the percentage used to calculate the mortgage interest credit, and is between 10% and 50% of the qualified mortgage interest you pay. The mortgage credit certificate (MCC) shows the credit rate that applies to you. The government agency who issues your MCC determines this credit rate.

 - If the credit rate is greater than 20%, the mortgage interest credit is limited to $2,000 per year. The credit is limited by the allowable amount of mortgage debt (also known as the certified indebtedness) that is shown on your MCC.

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TurboTaxMargaretL , Enrolled Agent
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