Mortgage Credit Certificates (MCC)
If you are a first-time home buyer (see definition here), you can apply for a mortgage interest tax credit known as a Mortgage Credit Certificate (MCC). An MCC reduces your federal income taxes every year by allowing you to get 20% of what you spent on mortgage interest back as a tax credit. Because the tax credit refunds a portion of your mortgage interest, it also effectively reduces your mortgage interest rate.
To qualify, you must meet certain income requirements and the home must meet certain sales price restrictions.
Take the Eligibility Quiz
You can also combine an MCC with TSAHC’s down payment assistance (DPA). Home buyers that qualify for TSAHC’s Homes for Texas Heroes program will also receive their MCC for FREE when combining it with TSAHC’s DPA.
Questions? Contact us directly at [email protected]
Calculate your MCC Tax Savings
Use the calculator below to estimate the cumulative tax savings you will receive with an MCC.
Watch an MCC Program Overview
See how the MCC program lowers your federal income tax bill every year that you live in your home.