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A Mortgage Credit Certificate (MCC) provides homebuyers with a federal income tax credit based on a percentage of the mortgage interest paid per year. The tax credit is a dollar-for-dollar reduction against the homebuyer's federal income tax liability†.
In addition to providing a tax credit, an MCC may also help a homebuyer to qualify for the mortgage loan because it may be considered more "qualifying income" during the loan qualifying process. An MCC can be combined with a variety of fixed-rate or adjustable-rate mortgage loans, including CHF's ACCESS Loan Program which provides down payment assistance in the form of a low fixed interest rate Second Mortgage.
The CHF MCC Program currently has MCC funds available for home purchases in San Bernardino County, California. The Program is open to those individuals and families who meet income and home purchase requirements, have not owned a home as primary residence in the past three (3) years (with some exceptions), meet the qualifying requirements of the mortgage loan, and will use the home as their primary residence.
our approved lenders
Our network of CHF MCC Approved Lenders are here to help you every step of the way, from answering questions to processing your loan.- These qualified lenders and brokers can provide you with complete program guidelines and eligibility information, quote current interest rates and applicable APRs, supply loan applications and guide you through the home buying process.
If you would like additional information or a direct referral to an Approved Lender in your area, you may also Contact Us.
additional info
†Certain restrictions apply on all CHF Programs. See your CHF MCC Approved Lender for complete program guidelines. Homebuyers are encouraged to consult with their tax advisor regarding the impact of an MCC on their individual tax liability. The CHF MCC Program is administered by National Homebuyers Fund, Inc.
