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Homeownership >  Mortgage Credit Certificate (MCC) > MCC Stand Alone

 

 

 

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bulletHow much of a tax credit can be issued under the MCC program?

 

The size of the annual tax credit will be 25 percent of the annual interest paid on the mortgage loan. However, the maximum amount of the tax credit shall not exceed $2,000 per year. The credit cannot be larger than the annual federal income tax liability, after all other credits and deductions have been taken into account. MCC credits in excess of the current year tax liability may, however, be carried forward for use in the subsequent three years.

 


 

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