Florida Mortgage Credit Certificate (MCC)

What is Florida Mortgage Credit Certificate (MCC)?

Florida Mortgage Credit Certificate (MCC) is a mortgage credit certificate for homebuyers in Florida.

• Federal tax credit program allowing eligible homebuyers to claim 10%-50% of annual mortgage interest paid (up to $2,000/year) as a direct tax credit, increasing effective buying power. Available statewide through Florida Housing-approved lenders.
• Federal tax credit up to $2,000/year reducing tax liability.
• Increases effective purchasing power.
• Can be combined with Florida Housing DPA programs.
• Funding comes from Federal.

Do you have to pay it back?

Florida Mortgage Credit Certificate (MCC) is a tax credit rather than a loan, so there is nothing to repay.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Florida Mortgage Credit Certificate (MCC) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Florida Mortgage Credit Certificate (MCC) limits household income to 115% of the area median income, which varies by county and household size.

• Income limits vary by county and household size. Check floridahousing.org.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Florida Mortgage Credit Certificate (MCC) can be used for Single Family, Condo, Townhouse, and 2-4 Unit.

Where does it apply?

Florida Mortgage Credit Certificate (MCC) serves buyers purchasing anywhere in Florida.

How do you apply?

Applications for Florida Mortgage Credit Certificate (MCC) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.