Mortgage Credit Certificate (MCC) Program for First-Time Homebuyers
The Mortgage Credit Certificate (MCC) Program is our statewide tax credit program for eligible first-time homebuyers, available through participating lenders. The MCC Program offers:
- Ability for borrower to claim 35% of the mortgage interest they pay each year as a federal income tax credit, providing up to $2,000 per year in tax savings
- Offered with an affordable Minnesota Housing mortgage
- Monthly Payment Loan for downpayment and closing costs
- Income limits up to $99,500
For commitments made May 26, 2015 or earlier, purchase price must fall under the following limits:
- 11-County Metro: $310,000
- Balance of State: $265,000
For commitments made May 27, 2015 or later, purchase price must fall under the following limits:
- 11-County Metro: $307,300
- Balance of State: $258,600
- Reduction or elimination of mortgage insurance (MI) costs with exclusive conventional loan options, available up to 97% LTV
Want to become a MCC Lender?
If you are not a Minnesota Housing lender and would like to become one, please contact Christina Akinola.
If you are currently a Minnesota Housing lender, there is no additional fee to participate in the MCC Program. You must: