Montana Board of Housing Mortgage Credit Certificate (MCC) Program

What is Montana Board of Housing Mortgage Credit Certificate (MCC) Program?

Montana Board of Housing Mortgage Credit Certificate (MCC) Program is a mortgage credit certificate for homebuyers in Statewide, Montana, administered by Montana Board of Housing (Montana Department of Commerce).

• A Mortgage Credit Certificate (MCC) is a dollar-for-dollar federal income tax credit equal to 20% of annual mortgage interest paid, capped at $2,000 per year, available to first-time homebuyers every year they occupy the home as a primary residence. Borrowers apply through a participating lender after signing the purchase contract but before closing. Unused credit can carry forward up to three tax years.
• Up to $2,000/year dollar-for-dollar federal tax credit.
• Can be claimed every year of primary occupancy.
• Can adjust W-4 to increase monthly take-home pay.
• Stackable on most non-MBOH loans statewide.
• Unused credit carries forward up to 3 years.
• Funding comes from Federal mortgage credit certificate allocation administered by Montana Board of Housing.

How much assistance does it provide?

Montana Board of Housing Mortgage Credit Certificate (MCC) Program offers up to $2,000 in assistance.

• Award tiers: 20% of annual mortgage interest credited dollar-for-dollar against federal income tax (max $2,000/yr); remaining 80% of interest still deductible for itemizers.
• Amounts are the program's published maximums, not an offer — Montana Board of Housing (Montana Department of Commerce) determines any individual award.

Do you have to pay it back?

Montana Board of Housing Mortgage Credit Certificate (MCC) Program is a tax credit rather than a loan, so there is nothing to repay.

• Repayment is triggered by N/A - tax credit, not a loan; available every year the home is the primary residence.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

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

Where does it apply?

Montana Board of Housing Mortgage Credit Certificate (MCC) Program serves buyers purchasing in Statewide, Montana.

How do you apply?

Applications for Montana Board of Housing Mortgage Credit Certificate (MCC) Program go through Montana Board of Housing (Montana Department of Commerce), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Montana Board of Housing (Montana Department of Commerce) to reserve funds

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

2. 2

   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.