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Florida Housing Mortgage Credit Certificate Program

The Florida Housing Mortgage Credit Certificate (MCC) Program can help first time homebuyers save money each year that they live in their newly purchased home. With the MCC Program, the homeowner may claim between 10 to 50 percent of their mortgage interest each year as a FEDERAL TAX CREDIT on their IRS tax return. The credit is capped at $2000 annually for any credit amount that exceeds 20% and any remaining mortgage interest not included as part of the TAX CREDIT is still eligible for the home mortgage interest deduction on their federal tax return.

Each year, a homeowner may claim a dollar-for-dollar reduction of income taxes owed thereby reducing the amount of federal taxes paid.

Florida Housing’s MCC Program is for first time homebuyers purchasing a primary residence, a non-first time homebuyer purchasing a home in Federally Designated Target Areas in Florida or for eligible veterans purchasing a home anywhere in Florida.

The Florida Housing MCC can be issued with any participating lender’s fixed rate first mortgage loan or combined with Florida Housing’s Conventional Loan Program where the borrower receives downpayment assistance in addition to the MCC. It cannot be used with loan programs that use Mortgage Revenue Bonds as their source of funding.

The MCC Program has income and purchase price limits. These limits differ from county to county as well as by household size. Please contact a participating lender if you have questions or would like to apply for a MCC.

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