MCC (Mortgage Credit Certificate)

• Is a federal tax credit for 15% or 20% of all mortgage interest
   

• Typically provides $200 to $500 in additional take-home pay per month
   

• Available in most areas of San Diego County, but not in La Mesa, Del Mar, Solana Beach, and National City.
   

• The separate MCC programs are administered by AHA Housing (The Unincorporated Areas of the County and Incorporated Cities of San Diego County - that is - everything except the City of San Diego and Oceanside), the San Diego Housing Commission (for everything within the City of San Diego - everything with zip code starting with 921** - expect Coronado)
   

• Income limits: ($82,000 for up to 2-person households) ($95,220 for 3 or more person households)
   

• Purchase limits in most areas in San Diego County ($503,700 Resale)  ($490,000 New Construction) ($567,166 Duplex 5 or more years old)
   

• Can be used with VA, FHA, and conventional loans from MCC-partner lenders
   

• Cannot be used with CalHFA, Stated Income, Adjustable Rate Mortgages with less then 5-year fixed period with interest-only payments or 3-year fixed period with principal and interest payments.
   

• Applied for while in escrow by the loan officer
   

• TARGETED AREAS - If the property being purchased with MCC assistance is within a federally-designated target area, the buyer does not have to be a first-time homebuyer and the purchase price limits are higher. In San Diego County, the maximum purchase price in targeted areas for resale homes is $670,580 and for new construction is $617,289. A Map Of Targeted Census Tracts is shown here (it is a large file and may take a few seconds to download). On the map, the targeted census tracts are outlined in red. A List Of The Targeted Census Tract Numbers is shown here. To obtain the census tract number of any address, Click Here And Type In The Address.
   

I am approved as a qualified loan officer to provide the MCC.

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