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Mortgage Credit Certificate Program
MCC’s are a federally authorized program created to reduce effective interest costs for qualifying homebuyers
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
Monthly Credit Amount
Effective Monthly Mortgage Payment
$100,000
4.50%
$506.69
N/A
N/A
$506.69
$100,000
4.50%
$506.69
35%
$130.29
$376.40
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