TDHCA Mortgage Credit Certificate (MCC) Program

TDHCA Mortgage Credit Certificate (MCC) Program is a mortgage credit certificate for homebuyers in Texas. TDHCA's Texas Mortgage Credit Certificate provides eligible first-time homebuyers a federal income tax credit equal to 20% of annual mortgage interest paid, reducing federal tax liability dollar-for-dollar each year the home is their primary residence. The standalone MCC may be combined with eligible first mortgage products. A recapture provision applies if the home is sold within 9 years. 20% annual mortgage interest tax credit. Dollar-for-dollar federal tax reduction. Statewide. Standalone or combo. Funding comes from State.

TDHCA Mortgage Credit Certificate (MCC) Program is a tax credit rather than a loan, so there is nothing to repay. The assistance is recorded in Grant (no lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

TDHCA Mortgage Credit Certificate (MCC) Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. Citizenship or immigration status: yes.

TDHCA Mortgage Credit Certificate (MCC) Program sets its income limit as follows: Income limits follow TDHCA My First Texas Home limits (~115% AMI); vary by county and household size. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

TDHCA Mortgage Credit Certificate (MCC) Program can be used for Single-family. New construction is eligible.

TDHCA Mortgage Credit Certificate (MCC) Program serves homebuyers purchasing anywhere in Texas. The program gives priority to designated target areas, so the address matters as well as the county.

Applications for TDHCA Mortgage Credit Certificate (MCC) Program go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.