CHFA Mortgage Credit Certificate Program (MCC)
I want my MCC!
Save money every year with the CHFA Mortgage Credit Certificate (CHFA MCC)! Getting a CHFA MCC is like getting up to a 50 percent discount off your mortgage interest rate.
how it works
- Pair the CHFA MCC with your CHFA First Mortgage Loan or a loan from your favorite lender.
- Reduce the amount of federal taxes you owe by claiming 20, 30, or 50 percent* of your annual mortgage interest as a tax credit on your tax return.
- Claim the remaining interest as a home mortgage interest deduction.
- The result: You pay lower taxes and have more money to put back into your home or into savings!
*The Mortgage Credit Rate is based on your loan amount.
- 20% MCC for loans of $150,001 or greater – no cap
- 30% MCC for loans of $100,001 to 150,000 – $2,000/year cap
- 50% MCC for loans of $100,000 or less - $2,000/year cap
savings example (Effective Rate)Click table for a larger image.
For example, if you are getting a loan for $250,000, the amount of interest you will pay in one full year is $8,750. (Loan amount X interest rate = annual interest). With an MCC credit rate of 20%, you would be eligible for a tax credit on your taxes of $1,750. (Annual interest X MCC credit rate = tax credit). The MCC savings will reduce your effective interest rate to 2.42%, saving you $145.83 a month!
how do you qualify?
Tell your lender "I want my MCC" to get the savings started!
- First time homebuyers
- Eligible veterans
- Non-first time homebuyers purchasing in
- CHFA–approved homebuyer education required
- Mid credit score of 620
- Must live in the home as a primary residence
- Income and purchase price limits
(Targeted areas have different income and purchase price limits and no first time homebuyer requirements. These areas are determined by
chfa mcc explained
Christine Rucks is a proud new homeowner in Parker. Hear about her experience with CHFA and learn how our Statewide Mortgage Credit Certificate program helped her afford her new home.
federal recapture tax
You could be subject to the
Federal Recapture Tax when you sell your home.
I want my MCC! Where do I start?
Contact us to get started! You can reach us via
call us at 888.320.3688, or view the list of
CHFA Participating Lenders.
I want my MCC!
Where do I start?
Contact us to get started!
You can reach us via
call us at 888.320.3688, or contact a lender in your area.