Mortgage Credit Certificate Reissuance
Do you have a Mortgage Credit Certificate?
Some homeowners have a Mortgage Credit Certificate which allows them to claim a special tax credit on their federal income taxes every year. If you received an MCC when you bought your home and you want to refinance or sell your home, you may need to take certain steps.Â
Reissuing Your MCC When You Refinance Your Home
If you are refinancing your home and want to continue claiming your MCC tax credit, your MCC must be reissued.
- The refinancing lender must be an approved MCC participating lender with the Commission. See the list here: MCC Participating Lenders (PDF)
- Within one year of your refinance, you and your refinancing lender must complete the items on this MCC Reissuance Checklist (PDF), including the Refinancing Certification (PDF), and submit the package to the Commission.
- A $375.00 non-refundable application fee must be included with the reissuance request.
- The amount on the reissued MCC cannot exceed the outstanding balance of the mortgage prior to refinancing. The certificate credit rate cannot exceed the certificate credit rate specified in the existing certificate. Further restrictions apply.
Selling Your Home?
Recapture Tax May Apply
In rare cases, a homeowner may have to repay some of the tax benefits they received.
This only applies IF:
- You are selling the home within nine years of purchase
- You are receiving a substantial gain on the sale.
- Your income is above certain limits.
Learn more about recapture tax here.
Questions?
If you have questions about the Mortgage Credit Certificate Reissuance, please call us at 800.767.4663 or email info@heretohome.org.
Questions?
If you have questions about the Mortgage Credit Certificate Reissuance, please call us at 800.767.4663 or email info@heretohome.org.
If Your MCC is Lost
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- If you need a digital copy of your original MCC, please complete and submit this online form: Request Copy of MCC.
There is no charge for this service. - If you need a duplicate certified hard copy of your original MCC, please email info@heretohome.org.
There is a $35.00 fee for this service.
- If you need a digital copy of your original MCC, please complete and submit this online form: Request Copy of MCC.
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