Mortgage Credit Certificate (MCC)-Helping Florida Home Buyers Save Money
The Florida Housing Mortgage Credit Certificate (MCC) Program can help make purchasing a home in Florida a little more affordable. With the MCC program, a homeowner may claim a dollar for dollar reduction of income tax liability on 50% of the mortgage interest on their first mortgage, reducing the amount of federal taxes owed by as much as $2000.
- Claim up to 50% of their paid mortgage interest each year as a TAX CREDIT on their federal IRS tax return
- Credit is capped at $2000 annually
- Remaining mortgage interest not included in the TAX CREDIT is eligible for the home
Who is Eligible?
- First-time home buyers purchasing in Florida
- Non-first time home buyers purchasing in targeted areas of Florida
- Eligible veterans purchasing in Florida mortgage interest deduction