Mortgage Credit Certificates (MCC)
MCCs are for first-time home buyers eligible for the following programs:
- Homes for Texas Heroes Home Loan Program: for teachers, fire fighters and EMS personnel, police and correctional officers, and veterans.
- Home Sweet Texas Home Loan Program: for Texas
home buyers with low and moderate incomes.
Mortgage Credit Certificate (MCC) Benefits
- Save up to $2,000 every year as a special tax credit based on the mortgage interest paid
- Save thousands of dollars over the life of your mortgage loan
- Must be a first-time homebuyer (defined as anyone who has not owned a home in the last three years)
- No minimum credit score required if used with a non-TSAHC fixed-rate mortgage loan
- Can be used with TSAHC’s Down Payment Assistance
- FREE for Texas Heroes also using TSAHC's Down Payment Assistance
- Available statewide through a network of approved lenders
Visit our MCC Frequently Asked Questions for more information.
Example of MCC Tax Savings
The example below assumes a family purchases a home for $125,000 at a 4.50% interest rate. Interest paid the first year is approximately $5,625.
|MCC Tax Credit Rate (40% of Mortgage Interest Paid)||40%|
|Tax Credit Amount|
|Maximum Credit Amount*||$2,000|
*In this example, the homebuyer would be entitled to a tax credit of the maximum $2,000. The home buyer can also take a mortgage interest deduction of $3,625.