Mortgage Credit Certificate Program for First-Time Homebuyers
Layer the savings with the Mortgage Credit Certificate Program!
With the Mortgage Credit Certificate (MCC) Program, you can get an affordable Minnesota Housing mortgage, optional downpayment assistance, and a federal income tax credit of up to $2,000 per year.
Claim a percentage of the mortgage interest you pay each year as a federal income tax credit and deduct the remaining mortgage interest. Plus, get the money-saving benefits of a Minnesota Housing mortgage and downpayment loan.
- Affordable, fixed interest rates for the life of the loan
- As little as 3% down with our exclusive conventional loans
- Downpayment and closing cost loans up to $12,000
- Low or no mortgage insurance options for lower monthly payments
See how much you could save with the Potential Savings Calculator and learn more in our Frequently Asked Questions.
You may be eligible if you:
- Are a first-time homebuyer (you have not owned a home in the past three years)
- Meet income limits
Meet purchase price limits:
11-County Metro: $306,000
Balance of State: $253,800
- Meet minimum credit score requirements
- Have a federal income tax liability
Talk to a tax professional to see if this program would benefit you. Then contact an approved lender partner to get started. You must apply for the tax credit prior to closing on your home.
Already have a Mortgage Credit Certificate?
- Want to refinance? Re-issue your MCC.
- Lost your MCC? Contact Sandy Ajasa or Kirsten Partenheimer.
- Have other questions? Check out our Frequently Asked Questions for Current MCC holders.