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 20% of the mortgage interest paid – every year for the life of the loan. For example, a loan amount of $375,000 with a 5.50% loan interest rate could produce tax savings the first year of $4,100*! If a homebuyer qualifies for the MCC, that tax savings can also be considered additional qualifying income, which helps lower DTI (debt-to-income ratios) and provides additional buying power.

The MCC can be used as a standalone tool or paired with Home At Last Down Payment Assistance. The MCC is for first-time homebuyers, which means you haven’t owned a home in the past three years. However, we do waive the first-time homebuyer requirement for qualified Veterans* who will live in the home as their primary residence. Income and purchase price limits also apply, and borrowers must also meet the other underwriting requirements of obtaining a mortgage.

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

For Lending 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
IRS Information About How to File to Receive the Tax Credit

For Homebuyers
Contact a Home At Last™ Lender at FindANevadaLender.org and ask about the MCC. There are different requirements for the MCC such as purchase price and income limits depending on which county you are looking to buy a home in, and a lender is best equipped to handle the next steps. Keep in mind the MCC can only be reserved BEFORE a home is purchased.

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.

Note: Effective April 15, 2022, the MCC tax credit rate is 20% – with no annual cap on the amount of the tax credit! Use the MCC Calculator 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. Boost purchasing power and lower debt-to-income ratios with the MCC! The MCC calculator is programmed to generate the estimated tax credit based on 20% of mortgage interest paid – there is no IRS cap on the amount of the annual tax credit.

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 figures 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 reserve Home At Last™ loans at the rates published with eHousingPlus and must follow all program and loan agency guidelines. Loan rates vary based on loan type and amount of assistance provided. 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.