Mortgage Credit Certificate (MCC) Lender Requirements and Application

Why should I become a Mortgage Credit Certificate Lender?

  • Allows your borrower to credit 20% of their mortgage interest annually on federal taxes and is good for the life of the original mortgage.
  • Lenders can use the credit to gross-up income to help qualify borrowers.
  • Additional benefit you can offer on your own purchase mortgage products.
  • Valuable tool to increase mortgage sales volume.

Lender Application and Approval

FAQ’s

What are the Mortgage Credit Certificate (MCC) lender requirements?

  • Lenders will need to meet IRS reporting and retention requirements.

How are lending institutions compensated for using the MCC?

  • The lender must charge the MCC applicant a fee of $400, which is paid to MSHDA at closing.  The lender may also charge $100 that may be applied towards their closing costs at closing.

Where are the MCC lenders listed?