Mortgage Credit Certificate

MCC – The Florida Mortgage Credit Certificate

Purchasing and living in your own home is a feat for all. For first-time homeowners, this journey can be overwhelming and may require a bit of a learning curve. As a response to this fact, lenders, financial institutions, and government agencies have created programs and solutions that can help first-time home buyers.

The Mortgage Credit Certificate or MCC Program is one of the efforts designed to help first-time homeowners save money. It provides cash back every year that the new owners live in their home.

With a professional team that cares about the citizens of Fort Lauderdale, Florida State Mortgage Group is committed to making home ownership easy for first-timers. We offer a variety of loan solutions that can help buyers save money and get the most value for their loan.

We can expedite the process and find the right MCC Programs that meet your requirements.

Florida Mortgage Credit Certificate

An MCC program is specially designed for new home buyers and US Veterans who are looking to purchase their first home. It allows the borrower to claim up to 50% of the annual mortgage interest paid each year.

This is beneficial for new home buyers as they can use the extra cash as added monthly income. They can also use it to get qualified for a house they might be denied for otherwise.

The Florida Mortgage Credit Certificate caps the credit at $2,000 per year. Any leftover mortgage interest that is not included in the tax credit is eligible for a home mortgage interest deduction on federal tax returns.

Homeowners can claim a dollar-for-dollar reduction in income tax liability. They may make a claim for up to 50% of the mortgage interest. The value depends on the total loan amount but eventually helps reduce the amount of federal tax the borrower owes.

It’s important to clarify that the Florida MCC is not a mortgage itself. However, it is used in conjunction with a first mortgage that a borrower received from a credible lender. It cannot be issued with mortgage revenue bond loans.

Eligibility

The Florida MCC program is open to the following individuals and US veterans:

First-time home buyers that have not owned a primary residence within the last 3 years

Candidates that meet all qualifying requirements to receive a mortgage loan

Candidates with proven creditworthiness

Candidates that meet the MCC program’s income and purchase price limits

Buyers that apply for a Florida MCC program through a participating mortgage lender in Fort Lauderdale

Buyers who intend on occupying the house as their primary residence

Learn more about the MCC Borrower Limits County by Country in Florida »
Learn more about the MCC Purchase Price Limits »

What Our Clients Are Saying

Michelle Vantine
Michelle Vantine
17:20 08 Jul 19
I worked with Betty to buy my first house here in South Florida and I could not be happier! She was amazing. She was always available to answer my questions and she was very patient. She was extremely knowledgeable, even getting me approved for a HUGE tax exemption I will receive annually . She always had all the paper work ready on time and explained everything in detail. I could not image a better agent. I'm SO glad we made the decision to work with her. Thanks Betty!
Jarrett Van Tine
Jarrett Van Tine
16:01 08 Jul 19
Betty did an amazing job originating our loan. She is knowledgeable, accessible, and eager to provide the best for her clients. I HIGHLY recommend her!
Jarrett Van Tine
Jarrett Van Tine
16:01 08 Jul 19
Betty did an amazing job originating our loan. She is knowledgeable, accessible, and eager to provide the best for her clients. I HIGHLY recommend her!
Sean Zamora
Sean Zamora
18:28 05 Feb 19
Steve McWilliam was a tremendous help in securing my mortgage a few years ago. He’s also been a great source of knowledge in the time since. I highly recommend him as someone you can trust.
Scott Yankton
Scott Yankton
17:42 04 Feb 19
The smartest, most helpful and insightful mortgage loan person I’ve ever used. On our first attempt to buy he saved us from disaster. On our second attempt he was finished and ready to close before everyone else! Our loan was a VA so we expected it to take extra time...nope. For our next loan we won’t use anyone else.
Jennifer Cane
Jennifer Cane
02:05 23 Aug 18
They actually made obtaining my home loan fun and enjoyable on my part. The process was painless at all I expected it to be. They explained the process well to new buyers (like us) and at the same time keep me in the loop the entire time during the process. They really helped the process go smoothly. Got immediately a perfect home in an easiest and hassle-free way, Thank you so much!
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Talk to FSMG to learn more about the Florida Mortgage Credit Certificate Program and whether you are eligible for one.

Call us today at (954) 359-3000 or click the button below to get started.

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