Homeownership

Mortgage Credit Certificate (MCC)

With DCHFA’s Mortgage Credit Certificate (MCC), qualified borrowers have the ability to claim a Federal Tax Credit of 20% of the mortgage interest paid during each calendar year.

To get started with an MCC, please contact one of our participating lenders.

MCC Qualifications

In order to qualify for the MCC, you must meet the minimum requirements below:

Borrower Qualifications

  • Borrower must be a first-time homebuyer – 3 year rule (except for residences purchased in Targeted Area or Veteran’s utilizing a one-time exception)
  • Must include household income in maximum income limits (see guide for inclusions/exclusions)
  • Income limits and maximum sales price varies based upon household size and location of property
  • Single Family residences only (no 2-4 unit or co-op – see guide for additional information)

Property Qualifications

  • MCCs can be used for single family residences only to include detached homes, townhomes, and condominiums.

MCC Loan Options

A Mortgage Credit Certificate (MCC) may be purchased in conjunction with any of our DC Open Doors’ loan programs or it may be purchased as a “stand-alone” product in conjunction with other first trust mortgage loans.  Some exclusions apply.  First trust lender must be a DCHFA participating lender.

Option 1

MCC combined with a conventional, VA, FHA 30 Year Fixed Rate Mortgage or an FHA Adjustable Rate 1st Trust Mortgage.
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Option 2

MCC combined with a DC Open Doors 1st Trust Mortgage Product. If this option is utilized, the lender must follow the stricter of the program requirements.

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