FAQ and Information for current MCC Holders

You can contact the MCC Program Manager by email at mn.housing@state.mn.us or by phone 651.296.8215 about all Minnesota Housing MCC Program questions, including further questions in this FAQ.

You can request a new MCC by contacting the MCC Program Manager by email at mn.housing@state.mn.us or by phone 651.296.8215

If you refinance your mortgage, you must apply for a reissued MCC. You must apply by December 31 in the year you refinance by submitting a Reissuance Application and Affidavit and required documents. To be eligible for a reissued MCC, you must meet all requirements in section C of the Reissuance Application and Affidavit. 

Example scenarios:

• I assumed the original mortgage loan from the previous owner(s) of the property and you issued an MCC to the original mortgagor(s).
• I was one of two or more original MCC holders, and I now have assumed the original loan, and the other original Borrowers were removed through the assumption.

The transferee(s) can request a transfer of the MCC. Certain eligibility criteria apply. Contact the MCC Program Manager by email at mn.housing@state.mn.us or by phone 651.296.8215 for eligibility details. 

No. If you are using a different lender than was used the first time you got your MCC, you will need to reach out to the MCC Program Manager by email at mn.housing@state.mn.us or by phone 651.296.8215 to inquire about the lender waiver process. 

Step Up Borrowers are eligible to have their MCC’s reissued, but you are not required to refinance with Step Up.

Your maximum credit is based on the original loan amortization schedule and interest rate.

If you refinance into a 30-year loan, you can claim the MCC for only the remaining years you had with your original loan. If you refinance into a 15-year loan, you can claim the MCC for only another 15 years, assuming that you had more than 15 years left on your original loan.

You will need to submit your original MCC with your reissuance application. Upon approval of your application, we will issue you a new MCC that will fully replace your original MCC.