Mortgage credit certificate

Heresheis111
Heresheis111 Member Posts: 7 Newcomer
edited January 15 in Situation & Life Changes

What is a mortgage credit certificate? In what circumstances should I have/get one?

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  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 258

    A Mortgage Credit Certificate (MCC) is issued to a person by a state or local governmental unit or agency under a qualified mortgage credit certificate program. The person's mortgage payment is subsidized by the state or local government. If you Itemize your deductions you are only allowed to deduct the interest you actually paid, since some interest was paid by the state or local government.

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