Mortgage Tax Credit Certificate - State-by-State Overview

The Mortgage Tax Credit Certificate is an amazing opportunity to get up to $2,000 back per year as a tax credit for the life of your mortgage. However, there are state-by-state requirements to consider as not everyone is or can be qualified, and it varies from state to state. 

MCC Tax Credit Basics
The MCC Tax Credit is a credit designed for new homeowners who are getting a mortgage on their primary residence. Though there are income limits and house price limits, almost everyone can take advantage of this program as it works with FHA, VA, USDA, and conventional loans. 

However, not only is it state to state, it’s also lender to lender. So while it might be available in your state, your lender might not know or tell you about it as they don’t participate. In addition, there are a few things to keep in mind as while you could qualify; you might not want to take part in it. 

Why Obtain the MCC Tax Credit
You can get as much as a $2,000 tax credit each year that you have a mortgage. This means money back on your taxes that could be as much as $60,000 on the life of the loan!

Why You Might Not Obtain the MCC Tax Credit
However, some variables could push you to avoid this tax credit. According to the IRS, if you meet all three of these requirements at the time of the sale of your home, then you might actually have to pay back some of the tax credit you’ve gotten (called a recapture.)

1. You sell the home before nine years
2. You earn significantly more than you did when you bought the home
3. You gain money at the time of the same

If you think you might qualify for all three of these when you sell your home, think hard about whether or not the MCC tax credit is for you as you could be paying back all of the tax credits that you earned. 

State-By-State Information
Now, we’re going to go through each state and link to the resource you’ll need to learn more about the MCC Tax Credit for your potential future home. 

Note: This blog post will be updated with a basic overview and link to a longer state-by-state individual blog post as we work our way through individual deep dives. 

States With a State-Wide MCC Program

• Alabama - Run by the Alabama Housing Finance Authority.
• Arizona - Run by the Pima Industrial Development Authority (not in Maricopa County)
• Arkansas - Run by the Arkansas Finance Development Authority
• California - Run by the California Housing Finance Agency
• Colorado - Run by the Colorado Finance and Housing Authority
• Connecticut - Run by the Connecticut Housing Finance Authority
• Delaware - Run by the Delaware Division of Revenue
• Hawaii - Run by the Hawaii Housing Finance & Development Corporation
• Idaho - Run by the Idaho Housing and Finance Administration
• Indiana - Run by the Indiana Housing and Community Development Authority
• Kentucky - Run by the Kentucky Housing Corporation
• Louisiana - Run by Louisiana Housing Corporation
• Maryland - Run by the Maryland Department of Housing and Community Development
• Michigan - Run by the Michigan State Housing Development Authority
• Mississippi - Run by the Mississippi Home Corporation
• Missouri - Run by the Missouri Housing Development Commission
• Montana - Run by Montana Housing
• Nevada - Run by the Nevada Rural Housing Authority
• New Hampshire - Run by New Hamster Housing
• North Carolina - Run by the North Carolina Housing Finance Agency
• Ohio - Run by Ohio Housing Finance Agency
• Oklahoma - Run by the MCC Administration and Office of Disability Concerns
• Pennsylvania - Run by the Pennsylvania Housing Finance Authority
• Rhode Island - Run by Road Island Housing
• South Dakota - Run by the South Dakota Housing Development Authority
• Texas - Run by the Texas State Affordable Housing Corporation
• Vermont- Run by the Vermont Housing Finance Agency
• Virginia - Run by the Virginia Housing
• Washington - Run by the Washington State Housing Finance Commission
• Wisconsin - Run by Wisconsin Housing and Economic Development Authority
• Wyoming - Run by the Wyoming Community Development Authority

States Without State-Wide Programs 
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• Alaska - Not offered state-wide, offered based on region
• Flordia - Not offered state-wide via Flordia Housing
• Georgia - Not Offered via Georgia Department of Community Affairs
• Kansas - Not Offered (According to FDIC)
• Illinois - No longer participates (June 2020)
• Iowa - No funding available via the Iowa Finance Authority
• Massachusetts - No longer listed
• Maine - Not Offered (According to FDIC)
• Minnesota - No longer participates (December 2017)
• Nebraska - Not Offered (According to FDIC)
• New Mexico - Not Offered (According to FDIC)
• North Dakota - Not Offered (According to FDIC)
• New Jersey - Not Offered (According to FDIC)
• New York - Not Offered (According to FDIC)
• Oregon - Not Offered (According to FDIC)
• South Carolina - temporarily closed, according to the South Carolina Housing website. 
• Tennessee - The Take Credit Mortgage Credit Certificate is no longer listed
• Utah - Not Offered (According to FDIC)
• West Virginia - Not Offered (According to FDIC)