CHFA Statewide MCC Program

Supercharge your borrower's mortgage with a Tax Credit that lasts the life of the loan! Help your borrowers get not just a one time $8,000 tax credit, but also a tax credit that could last for 30 years. The Colorado Housing and Finance Authority (CHFA) is excited to announce the launch of our Statewide MCC program.

Mortgage Credit Certificates (MCCs) allow qualifying first time homebuyers to claim 20 percent (20%) of the mortgage interest paid in a tax year as a dollar-for-dollar tax credit against their federal income taxes due, up to $2,000 per year. The remaining 80 percent (80%) of the mortgage interest paid may continue to be used as an itemized deduction. Homeowners who are refinancing out of an adjustable rate mortgage originated after Dec. 31, 2001 and before Jan. 1, 2008, can obtain a new long term fixed rate mortgage and are also eligible to apply for a CHFA MCC.

CHFA's MCC may be combined with either a CHFA Mortgage Loan Program, or a non CHFA loan.

Check out our website for Income and Purchase Price Limits (Targeted Areas have higher than typical limits), program guidelines, and examples of exactly how the MCC tax credit works. Borrowers who itemize deductions as well as those that don't itemize can receive the benefit of an MCC.

CHFA will be conducting MCC specific trainings beginning the week of July 6th. If you are interested in offering an MCC to your borrowers, you must attend an MCC training prior to reserving a loan. See the training schedule.

Please contact the Home Finance division with any questions.

303.297.7376 or 1.888.320.3688 Denver
970.241.2341 or 1.800.877.8450 Western Slope

Thank you,
CHFA Home Finance