Mortgage Credit Certificate

Helps you qualify for your mortgage loan.

Helps your monthly income by reducing your federal income tax.

Not sure if you qualify for a mortgage loan? No worries. The Mortgage Credit Certificate (MCC) reduces the amount of federal income tax that you have to pay, which frees up your monthly income. The MCC helps you come closer to qualifying for that mortgage loan you need to get your dream home.Subject to credit approval. Subject to credit approval.

Homebuyers cannot exceed the household income and the home purchase price limits set according to federal tax law and Mississippi Home Corporation guidelines. The MCC will allow you to take a tax credit equal to 25% of the annual interest paid on the mortgage loan for a single-family conventional residence and 40% of the annual interest paid on the mortgage loan for a manufactured single-family home. This is a dollar-for-dollar reduction of your federal tax liability! The property must be owner-occupied. The Mortgage Credit Certificate can be used with 30-year Fannie Mae conventional, fixed-rate, adjustable-rate, FHA, VA, and Rural Development financing. MCCs are not available with MHC Bond financing.

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