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Mortgage Credit Certificates

What is a Mortgage Credit Certificate?

Mortgage Credit Certificates (MCCs) create an income tax credit equal to 20% of the annual interest paid on a mortgage. VHFA offers Mortgage Credit Certificates combined with a VHFA first mortgage through our MOVE MCC Program. VHFA Participating Lenders that offer the MOVE MCC program can also assist you in applying for an MCC for a non-VHFA loan.

MCCs help homeowners in a number of ways

MCCs are not just a one-time benefit. They can help ensure the long-term affordability of your home because they:

  • Reduce your federal income tax liability by as much as 20% of the interest you pay on your mortgage in a year.
  • May increase the amount of disposable income that can be factored into qualifying for your mortgage.
  • Remain in effect as long as the original mortgage tied to your MCC remains in place and you occupy the property as a primary residence.
  • Could save you thousands of dollars over the life of your original mortgage loan.
  • Can apply to any type of mortgage (fixed, adjustable) over any term, and is not limited to VHFA loans.

 MCCs may not be available long, so be sure to take advantage while VHFA is offering them.