Mortgage Credit Certificates
MCC Consumer Flyer
Income and Purchse Price Limits
Targeted Area Maps
Census Tract Search
CHFA Mortgage Credit Certificate (CHFA MCC)
Give your customers what they want:
a CHFA MCC, CHFA’s tax credit program!
homebuyers can save thousands
over the life of their loan with a CHFA MCC. A CHFA MCC lets them claim 20 percent of the mortgage interest as a tax credit on their annual federal IRS tax returns. The remaining interest paid is still eligible for the home mortgage interest deduction.
easy to use
The CHFA MCC is flexible. You can now use it with mobile home purchases. It also works with a variety of loan options. You can pair it with:
CHFA Preferred/Preferred Plus, and CHFA SmartStep/SmartStep Plus
CHFA Advantage purchase program
Your loan product; or
Any FHA/VA/RD/Conventional loan, including longer term ARM (5/1 or longer)
CHFA will reissue the CHFA MCC (
) should your customer decide to refinance. You can help your borrower to do the reissue if you wish.
We have in-house experts that can help you with the MCC submission process. It’s only three extra documents!
First time homebuyers
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
$200 lender fee (optional)
$250 CHFA administrative fee (qualified closing cost) that can be paid at closing
if the MCC is attached to a CHFA First Mortgage Loan
$1,000 administrative fee
if the MCC is not attached to a CHFA First Mortgage Loan
; must be paid with certified funds at the time of compliance review
The borrower could be subject to the
Federal Recapture Tax
when they sell their home.
Please view the
CHFA Seller’s Guide
for program specifics.
In order to originate and reserve a loan under the CHFA Statewide MCC program, all participating lenders are required to participate in an
. Once you are trained on MCCs, you will be included on our
CHFA MCC Participating Lenders
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