The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer.
MCC Lender Requirements
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
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?
- Access our MCC Lender list