HOME+PLUS
Mortgage Credit
Certificates - MCC's
Certificates - MCC's
HOME+PLUS
Mortgage Credit Certificates - MCC's
Arizona Mortgage
Credit Certificates – MCC’s
What is an MCC?
- Mortgage Credit Certificates "MCC’s" are available to first-time home buyers(1) and Veterans to help keep your housing costs down through federal income tax credits(2).
- An MCC can reduce federal income taxes owed. Because of the potential tax savings, an MCC holder may choose to adjust their W-4 withholdings with their employer(3)
- With less money withheld for taxes, the MCC holder receives more take-home pay.
- The MCC can be used by the lender to gross up qualifying income and improving debt-to-income / qualifying ratios (if allowed by the respective mortgage agency guidelines).
- Any MCC issued in Arizona can be combined with any down payment assistance program, including the HOME Plus DPA program.
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1) First-Time Homebuyers is any buyer that has not owned a home in the past 3 years.
2) Both a tax deduction and tax credit reduce your tax burden. A tax credit has the potential to save you more than a tax deduction does. Your tax professional can provide greater insight to your specific circumstance.
3) Speak with a tax professional or lender to find the best option for you.
Product Eligibility
- Available to first-time homebuyers, homebuyers who have not owned a home in 3-years, and Veterans.
- Income limits apply. Limits vary by county and could be lower than your selected DPA program income limits.
- Purchase price limits apply.
- MCC funds are limited.
- Additional requirements may apply.
How do I or my borrower apply?
- ALL MCC’s are issued state-wide by The Community Investment Corporation “CIC Tucson”, based in Tucson, Arizona.
- Neither the Arizona Industrial Development Authority or the HOME Plus DPA program directly issue MCC’s.
- For more information or questions about MCC, please visit Tucson Community Investment Corporation • CIC Tucson
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