WHEDA Tax Advantage (Mortgage Credit Certificate / MCC)

WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) is a mortgage credit certificate for homebuyers in Wisconsin, administered by Wisconsin Housing and Economic Development Authority (WHEDA). A Mortgage Credit Certificate giving first-time buyers a federal income-tax credit of 25% of annual mortgage interest (40% for veterans / target areas), up to $2,000/yr for the life of the loan. Annual federal tax credit 25% of mortgage interest (40% veterans & target areas). Up to $2,000/yr. Life of loan. Funding comes from Federal.

WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) offers up to $2,000 in assistance. The program can be combined with WHEDA Advantage or non-WHEDA first mortgages and WHEDA DPA. Amounts are the program's published maximums, not an offer — Wisconsin Housing and Economic Development Authority (WHEDA) determines any individual award.

WHEDA Tax Advantage (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.

WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Waived in target areas, for qualifying veterans, or Acquisition/Rehab loans. A homebuyer education course is required, through HUD-approved agency, WHEDA-approved PMI provider, eHomeAmerica, or Framework. Residency requirement: Property must be in Wisconsin. FTHB required (exceptions: target areas, veterans, Acq/Rehab). MCC fee $150 (WHEDA loan) / $600 (standard). Recapture if sold within 9 years.

WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) sets its income limit as follows: WHEDA MCC income limits (non-target 1-2 person $104,800-$132,400 eff 5/18/2025); higher in target areas. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) caps the purchase price at $544,232. Eligible property types include Single Family, Condo, 2-4 Unit, and Manufactured. New construction is not eligible. Manufactured homes are eligible.

WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) 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.

WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) serves homebuyers purchasing anywhere in Wisconsin.

Applications for WHEDA Tax Advantage (Mortgage Credit Certificate / MCC) go through Wisconsin Housing and Economic Development Authority (WHEDA), 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.