Home At Last™ Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate (MCC) program provides qualified homebuyers with an annual federal income tax credit equal to roughly 20% of the mortgage interest paid – every year for the life of the loan. For example, a loan amount of $345,000 with a 7.50% loan interest rate could produce tax savings the first year of $5,153*! If a homebuyer qualifies for the MCC, lenders can use the estimated tax savings as additional qualifying income to boost purchasing power and lower debt-to-income ratios! That means the estimated $5,153* first year savings equals $429 more per month of additional qualifying income – that’s a real inflation buster!

For qualified borrowers, the MCC can be added to the first mortgage loan – whether or not the Home At Last Down Payment Assistance program is being used. The MCC is for first-time homebuyers, which means not having owned a home in the past three years.  Qualified veterans* are exempt from the first-time homebuyer requirement. Income and purchase price limits apply, and borrowers must meet all loan underwriting requirements for the mortgage being obtained to purchase a primary residence.

Use the MCC Calculator at the bottom of this page to estimate tax savings over the life of the loan. Divide the first year tax savings by 12 months to determine the additional qualifying income generated by the MCC. The 20% tax credit is not capped by the IRS – refer to the IRS website for full MCC tax credit details.

Estimate the potential savings and income boost using the MCC Calculator below!

For Lender Partners (See Full Toolkit Here)
How to Reserve a Standalone MCC in eHousing
How to Reserve an MCC with DPA in eHousing
MCC Program Fees
MCC Income and Purchase Price Limits
MCC Program Guidelines

For Homebuyers
IRS Information About How to File to Receive the Tax Credit
Learn about potential IRS Recapture Tax if you sell the home before 9 years
Contact a Home At Last™ Lender at FindANevadaLender.org and ask if you qualify for the MCC. The MCC can only be issued at the time you’re buying your first home. 

Need Down Payment Assistance? Recipients of an MCC can pair their tax benefit with down payment and closing cost assistance. Click here to view today’s rates and assistance options.

Or, give us a shout at HAL@NVRural.org or by calling 833-GO-HAL-NV.

To calculate the MCCs additional qualifying income, use this formula (or the handy dandy tool below):
(Mortgage Amount) x (Note Rate) x (MCC %)] ÷ 12 = Amount added to borrower’s monthly income.

Calculate Your Estimated Costs and Tax Savings

Enter Your Loan Amount Here:
Enter Your Loan Interest Rate:

Assumes a 30 year mortgage.

NRHA does not offer this information as tax advice, the figures shown are estimates only. All MCC holders should consult their own tax advisor or the Internal Revenue Service for guidance regarding exact amount of tax savings.

*A Home At Last approved lender will determine eligibility for the MCC program. Not all applicants will qualify. Example savings are for illustrative purposes only. Reference to rates is for illustrative purposes only. NRHA does not offer this information to solicit a mortgage application. Participating lenders are responsible to follow all program guidelines. Title 38 of the Code of Federal Regulations defines a veteran as “a person who served in the active military, naval, or air service and who was discharged or released under conditions other than dishonorable”.