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Mortgage Credit Certificate Program
MCC’s are a federally authorized program created to reduce effective interest costs for qualifying homebuyers
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MCC’s allow the homebuyer to qualify for a federal income tax credit equal to a percentage of the interest paid on their home loan each year, up to a maximum of $2,000 per year
MCC holders still qualify for a regular deduction of the remaining interest paid on their home loan
Without MCC With MCC
Mortgage Amount
Mortgage Interest Rate
Monthly Mortgage Payment
MCC Rate
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Monthly Credit Amount
Effective Monthly Mortgage Payment
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$100,000
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4.50%
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$506.69
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N/A
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N/A
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$506.69
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$100,000
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4.50%
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$506.69
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35%
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$130.29
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$376.40
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