Mortgage Credit Certificate (Standalone)

Mortgage Credit Certificate (Standalone) is a mortgage credit certificate for homebuyers in Statewide County, Vermont, administered by Vermont Housing Finance Agency (VHFA). A standalone Mortgage Credit Certificate creating a federal income tax credit equal to 20% of annual mortgage interest paid, capped at $2,000/year. Can be attached to any non-VHFA loan offered by a participating lender, or obtained via VHFA MOVE MCC. Remains in effect for the life of the original loan while owner-occupied. Federal income tax credit equal to 20% of annual mortgage interest, capped at $2,000/year; attachable to a non-VHFA first mortgage. Funding comes from Vermont Housing Finance Agency (federal MCC authority).

Mortgage Credit Certificate (Standalone) offers up to $2,000 in assistance. Amounts are the program's published maximums, not an offer — Vermont Housing Finance Agency (VHFA) determines any individual award.

Mortgage Credit Certificate (Standalone) 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.

Mortgage Credit Certificate (Standalone) 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. Standalone MCC (no VHFA first mortgage required). Qualifying veterans/targeted-area buyers may be exempt from first-time-buyer rule (secondary-sourced).

Mortgage Credit Certificate (Standalone) sets its income limit as follows: Standalone MCC limits (as of 7/14/2025): Addison/Bennington/Windsor $110,000 (1-2), $130,000 (3+); most counties $120,000 (1-2), $140,000 (3+); Washington $125,000 (1-2), $145,000 (3+). Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Mortgage Credit Certificate (Standalone) caps the purchase price at $500,000.

Mortgage Credit Certificate (Standalone) names veterans among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Mortgage Credit Certificate (Standalone) serves homebuyers purchasing in Statewide County, Vermont.

Applications for Mortgage Credit Certificate (Standalone) go through Vermont Housing Finance Agency (VHFA), 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.