DC’s MCCs (Mortgage Credit Certificate)
Here’s another great reason to purchase a home in the District of Columbia, DC’s MCCs! A Mortgage Credit Certificate provides qualified borrowers the ability to claim a Federal Tax Credit of 20% of the mortgage interest paid during each calendar year.
MCC Loan Options
- Option #1- DC’s MCC may be used with a Conventional, VA, FHA 30 Year Fixed Rate Mortgage or an FHA Adjustable Rate 1st Trust Mortgage***
- Option #2- DC’s MCC may be combined with a DC Open Doors 1st Trust Mortgage Product. If this option is utilized, the lender must follow the stricter of the program requirements
*** Must apply for your 1st Trust loan through a DCHFA Lender Partner participating in the MCC Program
MCC Borrower Qualifications
- Borrower must be a first-time homebuyer – 3 year rule (except for residences purchased in Targeted Area or Veteran’s utilizing a one-time exception)
- Must include household income in maximum income limits (see guide for inclusions/exclusions)
- Income limits and maximum sales price varies based upon household size and location of property
- Single Family residences only (no 2-4 unit or co-op – see guide for additional information)
MCC Income and Sales Price Limits
MCC Targeted Areas in D.C.
MCC Property Qualifications